Invitae Corporation - NVTA STOCK NEWS

Invitae (NYSE: NVTA) has been appointed to a National Quality Forum (NQF) committee for a three-year term, marking it as the first genetics testing company to join this panel. The committee will focus on quality standards that influence healthcare delivery, with the goal of integrating genetics into mainstream medical practices. This move is anticipated to enhance healthcare quality and potentially improve outcomes for millions, particularly in areas like cancer and cardiovascular disease.

Invitae's recent study published in JAMA Network Open confirms that universal genetic testing significantly improves outcomes for patients with breast cancer. The study involved 952 patients and revealed that genetic testing altered clinical management recommendations for 68% of patients who didn't meet previous testing criteria. With breast cancer affecting over 7 million women globally, the American Society of Breast Surgeons advocates universal testing as the new standard of care, aiming to enhance patient treatment and identify hereditary risks for family members.

Invitae and Praxis Precision Medicines have successfully utilized Invitae's Ciitizen platform to support Praxis' IND application for PRAX-222, a treatment targeting pediatric patients with SCN2A developmental and epileptic encephalopathy. This marks the platform's first use as a source of real-world data in a regulatory filing. The FDA has cleared the IND application for the initial dose cohort of the PRAX-222 EMBRAVE clinical study, emphasizing the importance of innovative data collection in addressing rare diseases where traditional studies are challenging.

Invitae (NYSE: NVTA) has collaborated with clinical experts to advocate for universal germline testing for all cancer patients, as published in the Journal of Clinical Oncology Precision Oncology. The commentary cites a meta-analysis showing that 5-13% of patients with heritable mutations are overlooked due to current testing guidelines. It champions genetic testing to improve treatment options and patient outcomes, aligning with initiatives like Cancer Moonshot 2.0. The need for broader access to genetic testing is emphasized to reduce mortality and disparities in cancer care.

Invitae (NYSE: NVTA) has announced a collaboration with Simons Searchlight to enhance research on rare neurological diseases. This partnership merges Invitae's longitudinal clinical data from its Ciitizen platform with patient-reported outcomes from Simons Searchlight, creating a comprehensive dataset aimed at accelerating research efforts. The initiative seeks to improve understanding and treatment of conditions like STXBP1 and SYNGAP1 disorders. Both organizations emphasize the importance of this collaboration for providing researchers with in-depth knowledge of these disorders.

Invitae (NYSE: NVTA), a leader in medical genetics, will participate in the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 8:00 a.m. ET in New York City. The event features a fireside chat where management will discuss the company's initiatives. Investors can access a live audio webcast on the company's website, with a replay available afterward. Invitae aims to make genetic testing mainstream, offering improved quality and lower prices for healthcare worldwide. Visit invitae.com for more information.

Invitae (NYSE: NVTA) reported second-quarter 2022 revenue of $136.6 million, reflecting a 17.5% increase year-over-year. Non-GAAP gross margin improved to 40.1%, up from 36.6% in Q1 2022. However, the company faced a significant net loss of $2.5 billion, largely due to a goodwill writedown of $2.3 billion. Cash and equivalents were $737 million, with a cash burn of $147 million, marking a reduction from previous quarters. Invitae plans to realign operations, extending its cash runway to late 2024, while maintaining a low double-digit revenue growth outlook for 2022.

The National Comprehensive Cancer Network (NCCN) has updated its guidelines to recommend genetic testing for all colorectal cancer (CRC) patients, regardless of age or cancer type. This change addresses previous limitations that often excluded younger patients and those from diverse backgrounds. Recent studies indicate that nearly 1 in 6 CRC patients have inherited mutations affecting treatment, and over 10% had adjusted therapies due to genetic findings. The new guidelines aim to enhance access to testing for underserved populations, potentially impacting millions affected by CRC worldwide.

Invitae (NYSE: NVTA) will announce its second quarter 2022 financial results on August 9, 2022. A conference call will follow at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss these results and other recent highlights. Investors can register for the call and access a live webcast through the company’s website or the provided link. Invitae aims to improve healthcare by integrating genetic information into mainstream medical practice, focusing on faster, higher quality, and more affordable genetic testing.