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This page aggregates news and press releases related to Invitae (OTC: NVTA), a medical genetics company that focuses on clinical genetic testing, variant classification, and genomic data research. The news coverage reflects Invitaes role in medical laboratories, health care, and social assistance, as well as its corporate and financial developments.
Company announcements describe Invitae as a provider of genetic information that aims to deliver accurate and actionable results to support medical decision-making. News items include updates on research presented at professional meetings, such as the American College of Medical Genetics and Genomics Annual Clinical Genetics Meeting and the American Society of Breast Surgeons Annual Meeting. These stories highlight work on variant reclassification, machine learning models for hereditary cancer and Lynch syndrome genes, and studies of variants of uncertain significance and their impact on clinical management.
Other articles focus on Invitaes technology platforms and data resources, including the Invitae Generation platform and Clinical Variant Modeling, which the company describes as using machine learning and large genomic datasets to improve variant classification. News also covers collaborations with biopharmaceutical partners, such as an agreement with BridgeBio Pharma to use Invitaes rare disease enriched dataset and analytical capabilities for genetics-based drug discovery.
In addition to scientific and product-related updates, the news feed includes major corporate events. These include Invitaes filing for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey, its court-supervised sale process, and the selection of Labcorp as the winning bidder to acquire substantially all of the companys assets, subject to approvals. Asset transactions involving specific business lines, such as the transfer of certain reproductive health assets to Natera, also appear in coverage.
Investors, clinicians, and others interested in NVTA can use this page to review historical and ongoing developments in Invitaes research activities, technology initiatives, partnerships, restructuring efforts, and asset sales as reported in public news sources.
Integrated DNA Technologies (IDT) has acquired Invitae's Archer® Next Generation Sequencing (NGS) research assays for approximately $48 million. This strategic purchase aims to enhance IDT’s oncology research capabilities, allowing labs to identify biomarkers and boost cancer research. The acquisition includes a license to Invitae’s AMP™ technology, and the NGS assays are expected to integrate smoothly with IDT's existing xGen™ offerings, which have experienced significant growth since 2019. The deal also adds over 100 new associates globally to IDT’s workforce.
Invitae (NYSE: NVTA) has completed a strategic transaction with Integrated DNA Technologies (IDT), selling its Next Generation Sequencing (NGS) research assays for approximately $48 million. This move is aimed to enhance Invitae's cash runway and focus on precision oncology lab developed tests (LDT). The agreement includes a supply partnership to bolster Invitae Personalized Cancer Monitoring (PCM) services. Invitae's AMP™ technology will remain with the company, supporting its core genetic testing business.
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.
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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.