Predictive Technology Group Inc (OTCMKTS:PRED) shares rose 14.18% on Friday to $1.43 after the company announced it will be renaming its LifeCode Genetics subsidiary.
Predictive Technology Group Inc (OTCMKTS:PRED) will now call this subsidiary Predictive Diagnostics to realign its focus.
“The name change of LifeCode Genetics to Predictive Diagnostics is to align its mission and branding in preparation for commercialization of its initial diagnostic,” explained Predictive Technology Group President Bradley Robinson.
The group develops and commercializes green energy solutions for both commercial and residential dwellings. Through its subsidiaries such as LifeCode Genetics now Predictive Diagnostics, the company engages in the treatment of serious and debilitating diseases through the commercialization of therapeutics leveraged by gene-based companion diagnostics. In particular, it develops and/or acquires technologies that are involved in the origin of human disease, and the role that genes and their related proteins play in diseases’ onsets and progressions.
Its subsidiary Predictive Diagnostics develops and commercializes gene-based diagnostics. It holds strategic gene-based diagnostic assets, which can assist mothers in having healthier pregnancies and, ultimately, healthier babies.
Predictive Technology Group stocks have been trading in a 52-week range of $0.72 to $11.00, with the recent rally indicating a bounce off support and potential momentum until the middle of its range. The company has a market cap of $215.89 million at 123.52 million shares outstanding.
Earlier in the year, the company has acquired ReNovo Biotech, which provided it with access to the company’s cellular, tissue, biomaterial and regenerative medicine products and product candidates. It also tapped into ReNovo’s existing distribution channels, including access to customers from a recent signing of a private label agreement. Last month, the company was able to finalize the development process of a new allograft stem cell product derived from umbilical cord blood, adding to their regenerative product portfolio.
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