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Invitae

Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.

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Invitae reports strong Q4 earnings, eyes growth amid challenges

Invitae's Q4 2022 performance showcased revenue growth, improved margins, and reduced cash burn, positioning the company for sustainable growth.
Strategic investments in key growth areas and a focus on customer experience and profitability underpin Invitae's vision for the future.
Addressing supply chain challenges while seizing opportunities for expansion and innovation will be critical for Invitae's continued success.

Invitae (NVTA) reports robust Q1 earnings and advances in PCM technology

Invitae's Q1 2023 earnings call highlighted strong financial performance, operational strengths, and strategic advancements in PCM technology.
The company's focus on growth, margin expansion, and debt management underscores a path towards sustainable profitability.
While facing challenges in reimbursement dynamics and competitive landscape, Invitae remains poised to capitalize on growth opportunities.

Invitae reports Q2 revenue growth, adjusts guidance amid challenges

Invitae shows progress towards profitability with improved margins and reduced cash burn.
Challenges in hereditary cancer revenue and PGX exit impact revenue guidance.
Focus on expanding customer base, improving reimbursement, and reducing cash burn.
Continuous investment in products for future growth and competitiveness.

Invitae reports robust Q3 earnings, addresses financial concerns proactively

Invitae's Q3 2023 performance was strong, with revenue growth and margin expansion. The company faces challenges in capital structure and insurance payments but is actively addressing them. Opportunities lie in revenue growth, operational improvements, and expanding genetic testing services.

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Invitae is a genetic information company whose mission is to bring genetic information into routine medical practice to improve the quality of healthcare for billions of people.  Specializing in genetic diagnostics for hereditary disorders, Invitae is aggregating the world’s genetic tests into a single service with better quality, faster turnaround time, and a lower price than most single-gene diagnostic tests today.  What’s our plan? It takes three steps:  --Make genetic testing more affordable and accessible than ever before. --Build a secure and trusted genome management infrastructure. --Design a new global community for sharing genetic information to advance science and medicine.  Today, we are reinventing genetic testing by lowering the barriers for clinicians and patients to obtain diagnostic genetic information. Together we can improve healthcare for billions of people.

Labcorp Holdings Inc

Laboratory service provider Labcorp said on Wednesday it will acquire Softbank-backed Invitae Corp's assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic test maker filed for bankruptcy.

Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 mln

Advances Labcorp strategy to launch and scale specialty testing in areas such as oncology and rare diseases Transaction requires court approval, with confirmation expected on May 6, 2024 BURLINGTON, N.C. , April 24, 2024 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today that it has been selected as the winning bidder for select assets of Invitae, a leading medical genetics company.

Labcorp Announces Winning Bid for Select Assets of Invitae

– Labcorp Selected as Winning Bidder in Court-Supervised Sale Process, Subject to Court and Regulatory Approvals – – $239 Million Cash Bid Includes Acquisition of Substantially All of the Company's Assets, Ensuring Business Continuity for Customers, Partners and Employees – SAN FRANCISCO , April 24, 2024 /PRNewswire/ --  Invitae  (OTC:NVTA), a leading medical genetics company, announced that Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, has been selected as the winning bidder in the Company's auction in its sale process under Section 363 of the U.S. Bankruptcy Code. Labcorp will acquire substantially all of the Company's assets on a going concern basis for $239 million in cash consideration, plus other non-cash consideration.

Invitae Enters into Agreement with Labcorp for Sale of Business

– Report details the company's commitment to improving healthcare through the power of genetic information and discloses Environmental, Social and Governance initiatives for fiscal year 2023 – SAN FRANCISCO , April 22, 2024 /PRNewswire/ -- Invitae  (OTC: NVTA), a leading medical genetics company, today published its 2024 Environmental, Social and Governance (ESG) Report. This report provides a holistic view of the company's approach to ESG and its performance and progress through measurable data and metrics during the 2023 fiscal year.

Invitae Publishes its Environmental, Social and Governance (ESG) Report

– Study findings to be presented at the 2024 American Society of Breast Surgeons Annual Meeting – SAN FRANCISCO , April 11, 2024 /PRNewswire/ -- Invitae  (OTC: NVTA), a leading medical genetics company, today announced new studies to be presented at the American Society of Breast Surgeons Annual Meeting (ASBrS) held in Orlando from April 10-14, 2024. The featured research will highlight how machine learning can reduce variants of uncertain significance (VUS) in patients who have received genetic testing for breast cancer, in addition to results from real world data showing that uncertain results do not lead to an overuse of mastectomies for breast cancer patients.

Invitae Unveils New Research for Breast Cancer Patients with Variants of Uncertain Significance

– An Invitae-developed innovative approach to help reduce variants of uncertain significance – SAN FRANCISCO , March 12, 2024 /PRNewswire/ --  Invitae  (OTC: NVTA), a leading medical genetics company, today announced the launch of an update to Invitae Generation™ with Clinical Variant Modeling, a novel machine learning approach designed to aid clinical interpretation of genetic testing results and increase the rate of definitive answers for patients. The first of its kind, developed by a multidisciplinary team of computational biologists, machine learning engineers, clinical experts and geneticists, Clinical Variant Modeling methodically leverages clinical information received at the time of testing to improve variant classification and reduce variants of uncertain significance (VUS).

Invitae Launches Update to Invitae Generation™: Clinical Variant Modeling Improves Variant Classification

SAN FRANCISCO , March 6, 2024 /PRNewswire/ -- Invitae  (OTC: NVTA), a leading medical genetics company, today announced estimated unaudited fourth quarter and full year 2023 revenue, gross profit and cash burn. Estimated unaudited financial results for fourth quarter 2023 Fourth quarter 2023 revenue was $127.8 million, an increase of approximately 4% from a year ago.

Invitae Reports Estimated Unaudited Fourth Quarter and Full Year 2023 Financial Results

– Announcing Invitae Generation™, a high-quality variant detection and classification platform – SAN FRANCISCO , March 5, 2024 /PRNewswire/ -- Researchers from Invitae (OTC: NVTA), a leading medical genetics company, are showcasing their work next week at the 2024 American College of Medical Genetics and Genomics (ACMG) Annual Clinical Genetics Meeting in Toronto, Canada from March 12-16. The meeting's clinical agenda will include presentations on both research and clinical topics that promote the science and practice of clinical genetics and genomics.

Invitae to Present Data at the 2024 ACMG Annual Clinical Genetics Meeting

Softbank-backed genetic test maker Invitae said on Tuesday it has filed for voluntary Chapter 11 protection in a U.S. bankruptcy court and intends to pursue a sale process.

Genetic test maker Invitae files for bankruptcy protection in US

– Company to Use its Cash on Hand to Operate its Business During the Proceedings and Continues to Serve Customers and Patients – SAN FRANCISCO , Feb. 13, 2024 /PRNewswire/ -- Invitae  (OTC: NVTA), a leading medical genetics company, announced today that it is building on previous actions to manage costs and improve its business structure by filing for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. Through this filing, the Company intends to safeguard its business, customers, patients and employees while working to execute an efficient and value-maximizing sale process with the support of its senior noteholders.

Invitae Files for Voluntary Chapter 11 Protection; Pursues Sale Process

Yesterday, shares of Invitae (NYSE: NVTA ) stock plummeted lower by over 75% after The Wall Street Journal reported that the genetic testing services company was preparing for bankruptcy. Invitae has hired advisors Kirkland & Ellis, Moelis & Company, and FTI Consulting to figure out what to do with its $1.5 billion of debt amid a possible bankruptcy filing.

The New York Stock Exchange Will Start Delisting Invitae (NVTA) Stock

Invitae (NYSE: NVTA ) stock fell as much as 78% yesterday before it was ultimately halted because undisclosed news about the firm was pending. Many investors now expect that the SoftBank (OTCMKTS: SFTBY ) backed genetic testing specialist will file for bankruptcy before the end of this week.

NVTA Stock: Invitae Plunges 78% on the Brink of Bankruptcy

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Invitae Corporation (the “Company”) — ticker symbol NVTA — from the NYSE. Trading in the Company's common stock will be suspended immediately. NYSE Regulation has determined that the Company's common stock is no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 80.

NYSE to Commence Delisting Proceedings Against Invitae Corporation (NVTA)

Medical genetics firm Invitae (NYSE: NVTA ) suffered a shocking fall from grace as insider reports point to an upcoming bankruptcy filing. Although the company forwarded a compelling concept — leveraging genetic testing and diagnostics to assess hereditary disease risks — the business model didn't resonate with customers or investors.

Why Is Invitae (NVTA) Stock Down 75% Today?

Medical test maker Invitae is preparing to file for bankruptcy within weeks, the Wall Street Journal reported on Monday, according to people familiar with the matter.

Medical test maker Invitae prepares for bankruptcy - WSJ

BridgeBio Pharma Inc

SAN FRANCISCO , Jan. 30, 2024 /PRNewswire/ -- Invitae  (NYSE: NVTA), a leading medical genetics company, today announced a partnership with BridgeBio Pharma, Inc. (Nasdaq: BBIO), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, designed to advance genetics-based drug discovery for rare diseases. The goal of the collaboration is to generate new insights focused on genetic modifiers and the discovery of novel therapeutic targets for rare diseases and other unmet medical needs.

Invitae Partners with BridgeBio Pharma to Harness Genetic Insights for the Discovery of Rare Disease Therapeutics

Invitae has made progress in its business realignment plan, cutting cash burn by one-half from 2022 to 2023. However, the company still faces significant challenges.

Is Invitae Stock a Buy Now?

Natera

AUSTIN, Texas--(BUSINESS WIRE)--Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA (cfDNA) testing, today announced that it has acquired from Invitae (NYSE: NVTA), a leading medical genetics company, certain assets relating to Invitae's non-invasive prenatal screening and carrier screening business. Natera has made an upfront payment in the amount of $10 million to Invitae. In addition, the transaction includes $42.5 million in potential milestone payments including cash and litigati.

Natera Acquires Reproductive Health Assets from Invitae

SAN FRANCISCO , Jan. 22, 2024 /PRNewswire/ --  Invitae  (NYSE: NVTA), a leading medical genetics company, today announced it has completed the sale of certain reproductive health assets, which include carrier screening and non-invasive prenatal screening, to Natera (NASDAQ: NTRA).  The value of the transaction is up to $52.5 million, including cash, milestone payments and litigation credits.

Invitae Completes Sale of Reproductive Health Assets to Natera

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Despite Fast-paced Momentum, Invitae (NVTA) Is Still a Bargain Stock

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Invitae (NYSE: NVTA ) layoffs are coming to the genetics company after announcing plans to divest assets of health tech platform Ciitizen. Alongside this announcement, the company said it will be taking measures to reduce costs and cash burn.

Invitae Layoffs 2023: What to Know About the Latest NVTA Job Cuts

– Maintains Minority Equity Stake in Ciitizen – – Anticipated Total Cash Savings of Approximately $90-100 Million on an Annualized Basis – SAN FRANCISCO , Dec. 13, 2023 /PRNewswire/ --  Invitae  (NYSE: NVTA), a leading medical genetics company, today announced strategic changes to streamline operations and reduce operating cash burn. The company has divested the assets of Ciitizen and announced strategic cost cuts, which will include a workforce reduction and other operating expense reductions.

News for Invitae Stock (NVTA)