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Stock Alert: Genetic Technologies Jumps 50%

Shares of Genetic Technologies Ltd. (GENE) shares surged over 50% on Wednesday morning. The molecular diagnostics company said it has filed a provisional patent for its COVID-19 Severity Risk Test with the Patent Office in Australia.

GENE is currently trading at $3.51, up $1.25 or 55.31%, on the Nasdaq.

Genetic Technologies is developing a Polygenic Risk Score test for COVID-19, which may enable an assessment of risk of an individual developing a serious disease should they contract the COVID-19 virus. The test is intended to predict 'disease severity' using a combination of genetic and clinical information.

Genetic Technology expects to make its data pack for the COVID-19 Severity Risk Test available to global labs.

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