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Invitae Corporation - NVTA STOCK NEWS

Welcome to our dedicated page for Invitae Corporation news (Ticker: NVTA), a resource for investors and traders seeking the latest updates and insights on Invitae Corporation stock.

Invitae Corporation (OTC: NVTA) is a prominent medical genetics company based in San Francisco. The firm is on a mission to integrate genetic information into everyday medical practice to enhance healthcare quality for billions worldwide. Invitae specializes in genetic diagnostics for hereditary disorders, enabling clinicians and patients to access comprehensive genetic testing services with higher quality, faster turnaround times, and lower costs compared to traditional single-gene tests. The company offers curated panels and customizable tests, making genetic information more accessible and actionable.

Invitae has pioneered significant advancements in the field, including the recent partnership with BridgeBio Pharma to bolster genetics-based drug discovery for rare diseases. This collaboration aims to uncover new therapeutic targets and deepen insights into genetic modifiers, using Invitae's extensive genetic dataset generated from over 4 million patients.

However, Invitae has faced financial challenges, leading to a voluntary Chapter 11 bankruptcy filing in early 2024. Despite these hurdles, the company remains committed to its vision, continuing operations and focusing on its strategic initiatives to improve healthcare delivery.

Among its innovative projects, Invitae recently launched Clinical Variant Modeling, an AI-driven approach to enhance the clinical interpretation of genetic tests, especially for hereditary cancers like Lynch syndrome. This initiative is expected to reduce the uncertainty in genetic test results, providing more definitive answers and improving patient outcomes.

The company's dedication to leveraging advanced technology and extensive datasets underscores its potential to transform genetic testing and healthcare delivery on a global scale. For more updates and detailed information, visit Invitae's website.

News

Labcorp Announces Winning Bid for Select Assets of Invitae

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Labcorp, a global leader in laboratory services, has won the bid for select assets of Invitae, a medical genetics company. The transaction, awaiting court approval on May 6, 2024, is valued at $239 million and is expected to generate $275-$300 million in annual revenue, primarily in oncology and rare diseases testing. The deal is set to close in the third quarter of 2024, pending regulatory approvals.
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Invitae Enters into Agreement with Labcorp for Sale of Business

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Invitae, a leading medical genetics company, has entered into an agreement with Labcorp for the sale of its business. Labcorp, a global leader in laboratory services, has been selected as the winning bidder in a court-supervised sale process under Section 363 of the U.S. Bankruptcy Code. The $239 million cash bid includes the acquisition of substantially all of Invitae's assets, ensuring business continuity for customers, partners, and employees. The sale is subject to court and regulatory approvals, with completion expected in the third quarter of 2024.
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Invitae Publishes its Environmental, Social and Governance (ESG) Report

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Invitae, a leading medical genetics company, published its 2024 Environmental, Social and Governance (ESG) Report detailing its commitment to improving healthcare through genetic information. The report highlights achievements in patient access, genetic insights, product quality, and environmental sustainability.
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Invitae Unveils New Research for Breast Cancer Patients with Variants of Uncertain Significance

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Invitae (NVTA) announces new studies to be presented at the American Society of Breast Surgeons Annual Meeting, highlighting the role of machine learning in reducing variants of uncertain significance (VUS) in genetic testing for breast cancer patients. The research shows machine learning models can benefit underrepresented populations, resulting in more definitive genetic testing outcomes.
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Invitae Launches Update to Invitae Generation™: Clinical Variant Modeling Improves Variant Classification

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Invitae launches Clinical Variant Modeling to reduce variants of uncertain significance, providing more definitive answers for patients. The innovative approach leverages clinical information to improve variant classification and reduce VUS, benefiting nearly 45,000 patients initially.
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Invitae Reports Estimated Unaudited Fourth Quarter and Full Year 2023 Financial Results

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Invitae (NVTA) announces estimated unaudited financial results for Q4 and FY 2023, showing revenue growth, gross profit increase, and cash burn details. Q4 revenue up 4% to $127.8 million, with GAAP gross profit at $74.1 million. FY 2023 revenue at $487.0 million, down 6% YoY, but non-GAAP gross profit increased to $254.2 million. Cash burn details and caution on unaudited data provided.
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Invitae to Present Data at the 2024 ACMG Annual Clinical Genetics Meeting

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Invitae introduces Invitae Generation™, a high-quality variant detection and classification platform, at the 2024 ACMG Annual Clinical Genetics Meeting. The platform showcases the company's commitment to innovation and excellence in genetic variant testing.
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Invitae Files for Voluntary Chapter 11 Protection; Pursues Sale Process

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Invitae (NVTA) files for voluntary chapter 11 protection to manage costs and improve business structure. The company plans to operate using its cash on hand and continue serving customers and patients. Senior noteholders support the sale process.
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Invitae Partners with BridgeBio Pharma to Harness Genetic Insights for the Discovery of Rare Disease Therapeutics

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Invitae (NVTA) announces a partnership with BridgeBio Pharma (BBIO) to advance genetics-based drug discovery for rare diseases. The collaboration aims to generate new insights focused on genetic modifiers and the discovery of novel therapeutic targets for rare diseases and other unmet medical needs. Invitae's extensive dataset and analytical capabilities will be combined with BridgeBio's expertise in rare disease research and therapeutic development to support the development of transformative medicines for patients with rare diseases.
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Natera Acquires Reproductive Health Assets from Invitae

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Natera, Inc. (NTRA) has acquired certain assets from Invitae (NVTA) related to non-invasive prenatal screening and carrier screening business. The upfront payment to Invitae was $10 million, with potential milestone payments totaling $42.5 million. Invitae will transition its customers to Natera. Natera CEO, Steve Chapman, expressed commitment to providing excellent service and supporting additional patients and providers.
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FAQ

What is the market cap of Invitae Corporation (NVTA)?

The market cap of Invitae Corporation (NVTA) is approximately 5.6M.

What does Invitae Corporation specialize in?

Invitae specializes in genetic diagnostics for hereditary disorders, providing comprehensive genetic testing services.

What is the mission of Invitae Corporation?

Invitae aims to integrate genetic information into routine medical practice to improve healthcare quality for billions of people.

What recent partnerships has Invitae announced?

Invitae recently partnered with BridgeBio Pharma to advance genetics-based drug discovery for rare diseases.

What financial challenges is Invitae facing?

Invitae has filed for voluntary Chapter 11 bankruptcy to restructure its debts and improve its financial condition.

What is Clinical Variant Modeling?

Clinical Variant Modeling is an AI-driven approach launched by Invitae to enhance the interpretation of genetic test results and reduce uncertainty.

How extensive is Invitae's genetic dataset?

Invitae's genetic dataset includes information from over 4 million patients, providing a rich resource for genetic research and diagnostics.

Who recently acquired Invitae's assets?

Labcorp has been selected as the winning bidder to acquire Invitae's assets as part of the company's financial restructuring.

How does Invitae's partnership with BridgeBio Pharma benefit rare disease research?

The partnership aims to combine genetic data and expertise to discover new therapeutic targets and advance research in rare diseases.

What role does AI play in Invitae's genetic testing services?

AI is used to improve the accuracy and efficiency of genetic test result interpretation, reducing variants of uncertain significance and providing clearer answers.

How does Invitae support healthcare professionals and patients?

Invitae provides accurate, timely genetic information to support medical decision-making, helping clinicians and patients manage hereditary conditions effectively.

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Invitae Corporation

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5.59M
284.38M
1.51%
47.96%
23.65%
Diagnostics & Research
Healthcare
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United States
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