Invitae Corporation Stock Price, News & Analysis

Invitae Corporation (NVTA) reported its third-quarter financial results for 2020, achieving revenues of $68.7 million, up from $56.5 million in Q3 2019. The company accessioned around 170,000 samples, compared to 129,000 the previous year. Despite increased revenues, Invitae faced a net loss of $102.9 million for the quarter. The average cost per sample rose to $274, while gross profit decreased to $22.1 million from $24.4 million year-over-year. The results reflect ongoing investments, including the acquisition of ArcherDX, aiming to enhance cancer genetics.

Invitae (NYSE: NVTA) presented findings at the ASHG Virtual Meeting indicating that 10% of men with prostate cancer have genetic changes linked to hereditary cancer syndromes. Notably, three-quarters of these patients are eligible for changes in management or treatment based on their genetic insights. The study analyzed over 4,000 men and found no significant difference in genetic alterations by cancer stage, signaling the need for broader testing criteria. Additionally, it highlighted lower positivity rates in African-American (6.2%) and Asian (6.7%) participants, emphasizing the need for enhanced genetic testing in diverse populations.

Invitae Corporation (NYSE: NVTA) will release its third quarter 2020 financial results on November 5, 2020, followed by a conference call at 4:30 p.m. Eastern. The call will discuss financial outcomes and significant company highlights. Investors can register online or by phone to participate. The event will feature a live webcast accessible through Invitae's investor relations website, and a replay will be available afterward. Invitae aims to integrate genetic testing into mainstream healthcare, enhancing accessibility and quality.

Invitae's recent study published in JAMA Network Open indicates that tumor-only genetic sequencing fails to identify actionable genetic variants in cancer patients that germline testing can detect. The research assessed 2,023 patients, revealing that 30.5% had pathogenic germline variants, with 8% of these missed by tumor sequencing. The study suggests a need to expand current clinical guidelines for testing to include patients who could benefit from germline insights, particularly those with recurrent cancers, highlighting the importance of comprehensive genetic profiling in cancer treatment.

Invitae Corporation (NYSE: NVTA) announced the completion of its acquisition of ArcherDX on October 2, 2020. This strategic move combines Invitae's genetic testing capabilities with ArcherDX's genomics analysis to enhance personalized cancer treatment through comprehensive testing services. The acquisition involved 30 million shares and $325 million in cash, with potential additional shares based on performance milestones. Dr. Jason Myers joins Invitae’s Board as president of oncology. This acquisition aims to improve cancer patient care and broaden Invitae’s market reach in molecular medicine.

Invitae Corporation (NYSE: NVTA) announced the appointment of Kimber Lockhart to its Board of Directors, effective September 10, 2020. Lockhart brings extensive experience in technology and product development, having previously served as CTO at One Medical and held various engineering roles at Box. CEO Sean George emphasizes that her expertise in scaling fast-growth businesses will be crucial for Invitae's mission to integrate genetic information into mainstream healthcare. Lockhart expressed enthusiasm about joining Invitae during a pivotal growth phase.

Invitae (NYSE: NVTA) has initiated enrollment for a nationwide study aimed at evaluating genetic testing guidelines for prostate cancer patients. This study seeks to identify clinically relevant genetic variants that could inform treatment options and improve patient care. Despite the growing importance of genetic information in prostate cancer management, existing guidelines remain restrictive. The study will analyze whether these guidelines effectively identify patients who could benefit from genetic testing, ultimately helping optimize cancer care for men diagnosed with the disease.

Invitae Corporation (NYSE: NVTA), a leader in medical genetics, will join the 18th Annual Morgan Stanley Global Healthcare Conference on September 14, 2020, at 4:30 p.m. Eastern. Members of its management team will participate in a virtual fireside chat, which aims to discuss the company’s advancements in genetics and healthcare. Investors can access a live webcast on the company’s website, with a replay available afterward. Invitae's mission is to integrate comprehensive genetic information into mainstream medical practice.

Invitae Corporation (NYSE: NVTA) announced the grant of restricted stock units (RSUs) to its new Chief Operating Officer, Kenneth D. Knight, and Chief Digital Officer, Karthik Suri. A total of 475,000 shares were allocated under the 2015 Stock Incentive Plan for inducement awards, in compliance with NYSE Rule 303A.08. Knight received 250,000 RSUs, and Suri received 150,000 RSUs, both subject to vesting conditions over several years. The grants aim to incentivize key personnel to enhance company performance.