Invitae (NVTA) has released an update to notify the public and investors about an entry into a material definitive agreement.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Invitae Corporation completed an asset sale to Natera, Inc., involving customer lists and specific contracts associated with reproductive health services, including carrier screening and prenatal testing. Invitae received $10 million upfront with potential additional payments totaling $42.5 million, contingent on case resolutions and performance milestones. The agreement also includes a non-compete clause through March 2027, with certain exceptions, and requires Invitae to assist Natera in transitioning services and obtaining necessary consents. Transition services will be provided by Invitae to Natera until mid-July 2024.
For further insights into NVTA stock, check out TipRanks’ Stock Analysis page.