SAN
FRANCISCO, Sept. 22, 2023 /PRNewswire/
-- Invitae (NYSE: NVTA), a leading medical genetics
company, today announced that it received a notice from the New
York Stock Exchange (the "NYSE") on September 20, 2023, indicating the company is not
currently in compliance with Section 802.01C of the NYSE Listed
Company Manual because the average closing price of the company's
common stock over a consecutive 30 trading-day period was less than
$1.00 per share. The NYSE notice has
no immediate effect on the listing of the common stock on the NYSE,
subject to the company's compliance with the NYSE's continued
listing requirements.
Invitae has notified the NYSE that it intends to bring the
company into compliance with the listing standards within the
required cure period.
The NYSE notification described above does not affect the
company's business operations and does not conflict with or cause
an event of default or acceleration under any of the company's
material debt or other agreements. During the cure
period, Invitae's common stock will continue to trade on the
NYSE, subject to compliance with the other continued listing
requirements.
About Invitae
Invitae (NYSE: NVTA) is a leading
medical genetics company trusted by millions of patients and their
providers to deliver timely genetic information using digital
technology. We aim to provide accurate and actionable answers to
strengthen medical decision-making for individuals and their
families. Invitae's genetics experts apply a rigorous approach to
data and research, serving as the foundation of their mission to
bring comprehensive genetic information into mainstream medicine to
improve healthcare for billions of people.
To learn more, visit invitae.com and follow for updates on
Twitter, Instagram, Facebook and
LinkedIn @Invitae.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
relating to the company's plans to cure the minimum share price
requirement, remain listed on the NYSE, and the effects on its
business including without limitation the company's material debt
or other agreements. Forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially, and reported results should not be considered as an
indication of future performance. These risks and uncertainties
include, but are not limited to: the company's ability to comply
with the NYSE listing standards and regain compliance with the
minimum share price requirement; the company's ability to grow its
business in a cost-efficient manner; the company's history of
losses; the company's ability to maintain important customer
relationships; the company's ability to compete; risks associated
with litigation; the company's ability to use rapidly changing
genetic data to interpret test results accurately and consistently;
security breaches, loss of data and other disruptions; laws and
regulations applicable to the company's business; and the other
risks set forth in the company's filings with the Securities and
Exchange Commission, including the risks set forth in the company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. These forward-looking statements
speak only as of the date hereof, and Invitae Corporation disclaims
any obligation to update these forward-looking statements.
Invitae Contacts:
Investor Relations
Hoki
Luk
ir@invitae.com
Public Relations
Amy
Hadsock
pr@invitae.com
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SOURCE Invitae Corporation