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Cordlife shares drop further after update

Felicia Tan
Felicia Tan • 1 min read
Cordlife shares drop further after update
Cordlife, on Jan 17, announced that it has sent the donated cord blood samples for testing. So far, samples from five tanks have been sent.
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Cordlife, on Jan 17, announced that it has sent the donated cord blood samples for testing. So far, samples from five tanks have been sent and the company aims to complete the sending of samples from all the affected tanks by Jan 18.

According to Cordlife, each batch may take between three to six weeks to be completed. This also depends on whether repeat testing is required.

Samples from the remaining unaffected tanks will undergo testing in due course.

Cordlife, which is due to report its results for the full year in February, reported net profit of $1.4 million for the 3QFY2023 ended Sept 30, 2023, 47.4% higher y-o-y. Net profit for the 9MFY2023 rose by 27.6% y-o-y to $3.6 million.

As at 11.29am, shares in Cordlife are trading 0.5 cents lower or 1.6% down at 30 cents.

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