Genetic Technologies lists on the Nasdaq National Market

By Jennifer Chiou

New York, Sept. 6 - Genetic Technologies Ltd. announced the listing of its Level II American Depositary Receipts on the Nasdaq National Market under the symbol "GENE."

Each ADR is made up of 30 Genetic Technologies shares.

The company said its final Form 20-F registration statement was declared effective for Securities and Exchange Commission compliance on Sept. 1.

"We are very pleased to have our ADRs trading on the Nasdaq National Market, as it provides the company with access to the vast North American capital markets," Mervyn Jacobson, executive chairman, said in a news release.

"We believe that trading on the Nasdaq National Market will significantly increase our visibility to a wide range of investors worldwide, while at the same time providing investors with the best prices, the fastest execution and the lowest cost per trade."

Based in Melbourne, Australia, the life sciences company seeks new applications for non-coding DNA to provide testing for humans, animals and plants.

The first sale of the ADRs was at $11.00 and they closed up $1.00 at $12.00 on Tuesday.

Genetic Technologies stock continues to trade on the Australian Stock Exchange as "GTG."

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