Genetic Signatures responds to 10.2% BCAL Diagnostics stake

• Genetic Signatures announced it had no prior knowledge of a recent acquisition of its shares by another diagnostics company.
• The company's stock fell 5.7% to 6.6 cents following the market update.
• Management stated that the business remains fully focused on executing its current operational and financial strategy.

Genetic Signatures (ASX:GSS) received no advance notification regarding a 10.2% stake acquisition by BCAL Diagnostics (ASX:BDX).

This unannounced share purchase contrasts with typical corporate transactions where investments are preceded by confidential strategic discussions.

The company received no strategic proposals following BCAL Diagnostics purchasing 23,173,644 shares at 6 cents each.

Following the announcement, the Genetic Signatures share price was down at $0.066.

The board reassured stakeholders that the business continues to operate normally while executing its commercial initiatives.

CEO Maria Halasz previously outlined these long-term financial objectives during a market presentation on June 10.

The company stated it will continue monitoring developments to ensure compliance with its continuous disclosure obligations.