SAN FRANCISCO, September 22, 2023 — Invitae (NYSE: NVTA), a trailblazing leader in the field of medical genetics, finds itself in the spotlight as it discloses a notice received from the New York Stock Exchange (NYSE) on September 20, 2023. The notice highlights a temporary non-compliance with Section 802.01C of the NYSE Listed Company Manual, triggered by the average closing price of Invitae’s common stock falling below $1.00 per share over a 30-day trading period.
However, this development doesn’t ring alarm bells for Invitae’s investors or disrupt its day-to-day operations. The NYSE notice carries no immediate consequences for the company’s stock listing on the exchange, provided Invitae takes swift action to meet the NYSE’s continued listing requirements.
In response, Invitae has wasted no time in notifying the NYSE of its commitment to restore compliance with the listing standards within the prescribed cure period.
Crucially, this notification from the NYSE does not ruffle Invitae’s feathers when it comes to business operations or trigger any defaults or accelerations under the company’s significant debt or contractual obligations. Investors can breathe easy as Invitae’s common stock continues to trade on the NYSE throughout the cure period, contingent upon satisfying the NYSE’s other continued listing criteria.
Invitae (NYSE: NVTA) isn’t just a company; it’s a pioneer in the world of medical genetics, a trusted ally for millions of patients and their healthcare providers. We’re not just about data; we’re about delivering profound insights through cutting-edge digital technology. Our mission? To empower individuals and families with precise, actionable genetic information that transforms medical decision-making.
Our team of genetics experts doesn’t take shortcuts. We’re driven by an unwavering commitment to rigorous data and relentless research. Why? Because we’re on a mission to revolutionize healthcare, making comprehensive genetic insights accessible to all, and ultimately, improving the lives of billions worldwide.
Safe Harbor Statement
Buckle up, because this press release ventures into the realm of the future. We’re not just talking about plans; we’re talking about aspirations to conquer challenges, including curing the minimum share price requirement and maintaining our prestigious listing on the NYSE. But, let’s be clear—what follows isn’t a crystal ball prediction; it’s a candid acknowledgment that real-life hurdles and surprises may lurk around the corner.
In this journey, we’re not merely observers; we’re in the driver’s seat, navigating our way through potential pitfalls. Our determination to grow efficiently, the risks of our past losses, our unyielding commitment to valued customer relationships, and the cutthroat competition we face are all part of the road ahead.
But it’s not just the road; it’s the data superhighway. We’re harnessing rapidly evolving genetic insights to deliver results that are not just accurate but consistently game-changing. However, with great power comes great responsibility, and we’re prepared to tackle security breaches, data losses, and other unforeseen disruptions head-on.
We’re also mindful of the ever-changing landscape of laws and regulations that govern our path, all while recognizing the importance of keeping the fine print in mind. We encourage you to take a deeper dive into the risks and possibilities that lie ahead in our Securities and Exchange Commission filings, including our latest quarterly report.
Remember, we’re not offering a crystal-clear glimpse into the future. Still, we’re committed to steering the course, adapting to the twists and turns, and always striving to deliver on our mission—bringing transformative genetic insights to the world.