Invitae Corporation Stock Price, News & Analysis

Invitae (NYSE: NVTA) announced the appointment of Deven McGraw to the National Health Information Technology Advisory Committee (HITAC), effective January 1, 2023. McGraw, who leads data stewardship at Invitae, aims to enhance patient health data access and interoperability. HITAC, established by the 21st Century Cures Act, advises on health IT standards and policies. McGraw's extensive background includes leadership roles in health information privacy and regulatory affairs, providing her with valuable insights that align with Invitae's mission to improve healthcare through genetic information.

Invitae (NYSE: NVTA) has announced its Data Use Transparency and Impact Report, showcasing how de-identified patient data is enhancing precision medicine. The report reveals Invitae's pioneering efforts in transparency within the industry, detailing contributions to over 38 peer-reviewed publications across various health areas. The company has also achieved over 1 million ClinVar submissions, becoming the leading contributor to this genetic variant database, thus underscoring its commitment to advancing genetic science.

Invitae has launched the Rare Patient Network to expand its Ciitizen platform for patients with pediatric epilepsy and/or developmental delay. This initiative aims to recruit thousands of patients, creating a vast database of patient-consented genetic and clinical data. The platform enhances patient engagement in clinical studies, facilitating research on rare neurodevelopmental conditions. The project is part of Invitae's broader mission to improve healthcare and potentially enhance patient outcomes.

Invitae (NYSE: NVTA) will present research at the NSGC Annual Conference in Nashville from November 16-18, 2022. The company aims to advance genetics in patient care, highlighting a study on cancer risk related to the MUTYH variant and RNA sequencing for variant classification. Invitae will also honor excellence in genetic counseling with the Heart of Genetic Counseling Award on November 17. Notable nominees include Monisha Sebastin, Victoria Vincent, and Julianne Wojciak, recognized for their impactful patient care efforts.

Invitae (NVTA) reported Q3 2022 revenue of $133.5 million, marking a 16.7% year-over-year increase. As of September 30, 2022, the company had $596 million in cash and marketable securities. The cash burn for the quarter was $151.5 million, with a plan to reduce cash burn to approximately $326 million by year-end. The GAAP gross margin improved to 12.4%, while non-GAAP gross margin rose to 45.9%. Invitae reiterated its revenue guidance for low double-digit growth and lowered cash burn guidance to $585-$625 million.

Invitae (NYSE: NVTA) announced a study revealing that positive genetic test results significantly impact clinical management for epilepsy patients. The study, published in JAMA Neurology, indicates that nearly 50% of patients experience clinical management changes, leading to improved health outcomes in up to 75% of cases. Results showed that genetic-informed therapy can reduce seizure frequency and sometimes eliminate seizures altogether. This research supports the integration of genetic testing in standard clinical practice for epilepsy.

Invitae (NYSE: NVTA) will showcase its findings at the American Society of Human Genetics Annual Meeting from October 25-29, 2022. The presentations will focus on the critical issue of genetic testing access, especially for underrepresented populations. One key study analyzed over 2 million individuals, identifying disparities in reporting variants of uncertain significance (VUS). Invitae aims to address these inequities through better data interpretation and collaboration with industry partners.

Invitae (NYSE: NVTA) has partnered with AstraZeneca to utilize its Ciitizen data platform for enhancing research on cholangiocarcinoma, a rare bile duct cancer. Through this collaboration, patient-consented data from the Cholangiocarcinoma Foundation will be leveraged to improve treatment outcomes. The study will track patients on AstraZeneca’s TOPAZ-1 regimen over three years to assess long-term efficacy and tolerability. This initiative aims to bridge gaps in clinical research for rare diseases by incorporating real-world insights into treatment strategies.