Press releases

April 11, 2024 Invitae Unveils New Research for Breast Cancer Patients with Variants of Uncertain Significance
Invitae (OTC: NVTA), a leading medical genetics company, today announced new studies to be presented at the American Society of Breast Surgeons Annual Meeting (ASBrS) held in Orlando from April 10-14, 2024. The featured research will highlight how machine learning can reduce variants of uncertain significance (VUS) in patients who have received genetic testing for breast cancer, in addition to results from real world data showing that uncertain results do not lead to an overuse of mastectomies for breast cancer patients. New findings show machine learning models can help reduce the burden on clinicians and patients in the process of resolving uncertain genetic test results for hereditary breast cancer, particularly for underrepresented populations. Due to limited evidence, classifying uncertain variants can be challenging. Individuals from certain racial, ethnic and ancestral (REA) populations are often underrepresented in large genomic databases and medical literature, leading to
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March 12, 2024 Invitae Launches Update to Invitae Generation™: Clinical Variant Modeling Improves Variant Classification
Invitae (OTC: NVTA), a leading medical genetics company, today announced the launch of an update to Invitae Generation™ with Clinical Variant Modeling, a novel machine learning approach designed to aid clinical interpretation of genetic testing results and increase the rate of definitive answers for patients. The first of its kind, developed by a multidisciplinary team of computational biologists, machine learning engineers, clinical experts and geneticists, Clinical Variant Modeling methodically leverages clinical information received at the time of testing to improve variant classification and reduce variants of uncertain significance (VUS). This new method represents the latest update to Invitae Generation, the company's state-of-the-art platform that unifies evidence generation and systematic variant classification. This innovation greatly reduces uncertainty for patients and increases the actionability of genetic testing. Clinical Variant Modeling was developed by leveraging
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March 6, 2024 Invitae Reports Estimated Unaudited Fourth Quarter and Full Year 2023 Financial Results
Invitae (OTC: NVTA), a leading medical genetics company, today announced estimated unaudited fourth quarter and full year 2023 revenue, gross profit and cash burn. Estimated unaudited financial results for fourth quarter 2023 Fourth quarter 2023 revenue was $127.8 million, an increase of approximately 4% from a year ago. After adjusting for revenue of approximately $10.5 million in the prior year period related to the discontinued businesses, fourth quarter 2023 revenue increased approximately 14% on a pro forma basis. GAAP gross profit was $74.1 million in the fourth quarter of 2023, compared to $29.6 million a year ago, representing an approximate 150% year-over-year growth. Non-GAAP gross profit was $74.4 million in the fourth quarter of 2023, compared to $58.5 million a year ago, representing year-over-year growth of approximately 27%. Fourth quarter GAAP gross margin was 58.0% compared to 24.2% a year ago. Non-GAAP gross margin was 58.2% in the fourth quarter of 2023, compared
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March 5, 2024 Invitae to Present Data at the 2024 ACMG Annual Clinical Genetics Meeting
Invitae to Present Data at the 2024 ACMG Annual Clinical Genetics Meeting – Announcing Invitae Generation TM , a high-quality variant detection and classification platform   – SAN FRANCISCO – March 5, 2024 – Researchers from Invitae (OTC: NVTA), a leading medical genetics company, are showcasing their work next week at the 2024 American College of Medical Genetics and Genomics (ACMG) Annual Clinical Genetics Meeting in Toronto, Canada from March 12-16. The meeting’s clinical agenda will include presentations on both research and clinical topics that promote the science and practice of clinical genetics and genomics. The company will also announce Invitae Generation TM , a high-quality variant detection and classification platform. Invitae Generation involves a team of scientific experts who thoughtfully develop, evolve and work hand-in-hand with our state-of-the-art technology platforms, systematic framework and massive genetics database to classify unique genetic variants –
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February 13, 2024 Invitae Files for Voluntary Chapter 11 Protection; Pursues Sale Process
Invitae (OTC: NVTA), a leading medical genetics company, announced today that it is building on previous actions to manage costs and improve its business structure by filing for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of New Jersey. Through this filing, the Company intends to safeguard its business, customers, patients and employees while working to execute an efficient and value-maximizing sale process with the support of its senior noteholders. To ensure the business will operate in the ordinary course during chapter 11, Invitae has sought court approval to fund the case using its cash on hand. The Company intends to transition into chapter 11 without disrupting operations, and is committed to serving its customers and patients and meeting go-forward commitments to employees and vendors. The Company remains steadfast in its commitment to deliver innovative solutions that empower individuals to unlock the value of genomic insights to improve
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January 30, 2024 Invitae Partners with BridgeBio Pharma to Harness Genetic Insights for the Discovery of Rare Disease Therapeutics
Invitae (NYSE: NVTA), a leading medical genetics company, today announced a partnership with BridgeBio Pharma, Inc. (Nasdaq: BBIO), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, designed to advance genetics-based drug discovery for rare diseases. The goal of the collaboration is to generate new insights focused on genetic modifiers and the discovery of novel therapeutic targets for rare diseases and other unmet medical needs. The agreement expands upon the longstanding partnership between the two companies to combine the strengths of BridgeBio's deep expertise in rare disease research and development of therapeutics, and Invitae's rare disease enriched dataset and analytical capabilities. Invitae has provided clinical testing for more than 4 million patients, generating an extensive dataset that is uniquely positioned to deepen insights on patients with genetic-driven disease. "Invitae is on a mission to bring comprehensive genetic information
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January 22, 2024 Invitae Completes Sale of Reproductive Health Assets to Natera
Invitae (NYSE: NVTA), a leading medical genetics company, today announced it has completed the sale of certain reproductive health assets, which include carrier screening and non-invasive prenatal screening, to Natera (NASDAQ: NTRA). The value of the transaction is up to $52.5 million, including cash, milestone payments and litigation credits. Natera has hired Invitae reproductive health sales representatives. In addition, Invitae will transition its non-invasive prenatal screening and carrier screening customers to Natera. "Today's announcement further helps us streamline operations and focus our resources on our strengths of clinical germline genetic information and superior variant interpretation in support of millions of oncology and rare disease patients," said Ken Knight, president and chief executive officer of Invitae. This transaction will aid Invitae's efforts to significantly reduce operating expenses. The Company anticipates annualized operating expense cash savings of
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The information in the press releases, presentations, webcasts and publications is archival and should be considered accurate only as of its date. We disclaim any obligation to supplement or update the information in these documents, presentations or webcasts.


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