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News Breaks
November 16, 2012
08:06 EDTGENEGenetic Technologies downgraded to Sell from Buy at Ladenburg
Ladenburg downgraded Genetic Technologies two notches to Sell based on concerns it will not be able to secure patent license agreements due to the current patent landscape following the Mayo v Prometheus decision and the July 2012 USPTO decision to reexamination GENE’s ‘179 patent. As a result, the firm sees limited revenue contribution from its pipeline near-term. Price target cut to $1.60 from $7.50.
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