Genetic Signatures Limited
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Launch of the EasyScreen™ Gastrointestinal Parasite Detection Kit in the US.
- Progressing software and instrument development and enhancements.
- Expanding the European customer base and the range of tests adopted by customers.
- Continuing R&D activity and moving new products from the development phase towards commercialisation.
Environmental Challenges
- Inconsistent sensitivity for low titre influenza B virus when employing the EasyScreen™ Respiratory Pathogen Detection Kit, resulting in disappointing revenue for FY2024.
- Increased competition from other recently-cleared molecular respiratory panels and an overall decline in molecular testing for respiratory infections in the US market, leading to the decision to cease further clinical development of a new respiratory product.
Mitigation Strategies
- Rapid redesign of the EasyScreen™ Respiratory Pathogen Detection Kit to address the influenza B detection issue, allowing for re-establishment of regulatory registration status and solid sales in the fourth quarter.
- Strategic decision to pause further investment in the development of the Next Generation Instrument and reallocate resources to core diagnostic offerings to ensure long-term stability.
- Implementation of initiatives to closely manage the Company’s cost base, including temporarily pausing non-critical research and development programs.