Invitae Corporation - NVTA STOCK NEWS

Invitae Corporation (NYSE: NVTA) will release its fourth quarter and full year 2020 financial results on February 17, 2021. A conference call is scheduled for 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss these results and recent highlights. Investors can register for the call online or via phone. The webcast will be accessible through Invitae's investor relations website, and a replay will be available afterward. Invitae aims to integrate genetic information into mainstream medicine, striving for quality service with lower costs.

Invitae Corporation (NYSE: NVTA) completed an underwritten public offering of 8,932,038 shares of common stock, raising approximately $460 million at a price of $51.50 per share. This includes shares sold following the full exercise of underwriters' options. The offering was managed by J.P. Morgan, Morgan Stanley, Cowen, and SVB Leerink. The registration statement for this offering has been effective since March 4, 2019. Invitae aims to integrate comprehensive genetic information into standard medical practice, enhancing healthcare accessibility.

Invitae Corporation (NYSE: NVTA) announced a public offering of 7,766,990 shares at $51.50 each, aiming to raise approximately $400 million. This offering, set to close around January 26, 2021, allows underwriters a 30-day option to buy an additional 1,165,048 shares. The net proceeds will support working capital, oncology and reproductive product development, and potential acquisitions. J.P. Morgan, Morgan Stanley, Cowen, and SVB Leerink are managing the offering. The automatic shelf registration became effective on March 4, 2019.

Invitae Corporation (NYSE: NVTA) announced a public offering of $400 million in common stock, with an additional $60 million option for underwriters. The funds will support working capital, oncology and reproductive product development, and international expansion. No current commitments exist for acquisitions. The offering is contingent on market conditions and may undergo changes.

Invitae Corporation (NYSE: NVTA) announced a collaboration with Bristol Myers Squibb, Janssen, Novartis, and Genentech to develop a standardized panel for detecting Molecular Residual Disease (MRD) in Acute Myeloid Leukemia (AML) patients. The initiative aims to enhance clinical trial testing and establish MRD as a reliable biomarker. The new multi-gene panel will utilize next-generation sequencing technology to detect over 90% of genetic alterations in AML. This partnership is focused on improving treatment outcomes through standardized MRD data collection.

Invitae Corporation (NYSE: NVTA) reported preliminary unaudited financial results for 2020, achieving revenues over $278 million, a 28% increase from $217 million in 2019. Billable volume exceeded 655,000, marking a 40% rise from 469,000. As of December 31, 2020, year-end cash and equivalents stood at over $360 million. Looking ahead to 2021, Invitae anticipates a revenue growth target between 50% and 60%, aiming for over $450 million in revenue, despite ongoing challenges from the COVID-19 pandemic.

Invitae Corporation (NYSE: NVTA) will present at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 10:50 a.m. Eastern. The company's CEO, Sean George, will lead the presentation followed by a virtual breakout session at 11:10 a.m. Eastern. A live webcast of both events will be available via a direct link. A recording will also be accessible on the investors section of Invitae's website following the events.

Invitae (NYSE: NVTA) announced a new service providing routine case-level reanalysis of exome testing results every six months for three years. This initiative aims to keep patients updated on the latest genetic research, improving diagnostic accuracy and care. Utilizing AI and a database of gene-phenotype relationships, the service enhances patient management by potentially increasing relevant diagnoses by 20%. The American College of Medical Genetics endorses ongoing reanalysis, highlighting its importance in addressing difficult medical cases.

Invitae (NYSE: NVTA) announced three studies at the 2020 San Antonio Breast Cancer Symposium demonstrating the need for universal genetic testing for breast cancer patients. The studies indicate that one in eight patients carries inherited variants affecting treatment choices. Despite this, testing rates in families remain low. Furthermore, over 70% of patients with pathogenic variants would be excluded from testing under current guidelines. These findings underscore the importance of expanding genetic testing access to improve patient outcomes and treatment options.