Invitae files for Chapter 11 bankruptcy to address huge debt load [Seeking Alpha]
Invitae Corporation (NVTA)
Last invitae corporation earnings: 2/19 04:05 pm
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US:NYSE Investor Relations:
ir.invitae.com/investor-relations/default.aspx
Company Research
Source: Seeking Alpha
The company declared assets of $500M-$1B and liabilities of $1B-$10B. It plans to use its cash on hand to operate its business during the bankruptcy proceedings. "We have been working diligently over the past 18 months to improve our cash position by realigning our portfolio and focusing on our most impactful business lines," said Invitae ( OTC:NVTA ) CEO Ken Knight. "These strategic initiatives accelerated our path to positive cash flow. However, we still need to address the company's debt position through these Chapter 11 proceedings." Invitae ( OTC:NVTA ) is committed to serving customers and patients, and meeting go-forward commitments to employees and vendors during the bankruptcy process. In its Q3 earnings report , Invitae ( OTC:NVTA ) disclosed that "substantial" doubt existed about its ability to continue as a going concern amid continued losses and an accumulated deficit of $6.2B as of September 30, 2023. It also had ~$1.4B outstanding on two sets of senior secured bo
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NVTA
News
- Invitae gets court approval for five-month bankruptcy sale [Reuters]Reuters
- Invitae gets court approval for five-month bankruptcy sale [Yahoo! Finance]Yahoo! Finance
- Genetic Testing Firm Invitae, Backed by SoftBank and Cathie Wood, Files for Chapter 11 [Yahoo! Finance]Yahoo! Finance
- Genetic test maker Invitae files for bankruptcy protection in US [Reuters]Reuters
- Genetic Testing Firm Invitae, Backed by SoftBank and Cathie Wood, Files for Chapter 11 [BNN Bloomberg (Canada)]BNN Bloomberg
NVTA
Earnings
- 11/8/23 - Miss
NVTA
Sec Filings
- 2/14/24 - Form 8-K
- 2/13/24 - Form SC
- 2/13/24 - Form SC
- NVTA's page on the SEC website