Invitae Priced, NYSE: NVTA

Offers a broad suite of genetic tests as a single service at a low price.

Industry: Health Care

Latest Trade: $10.33 -0.07 (-0.7%)

First Day Return: +6.6%

Return from IPO: -35.0%

Industry: Health Care

Invitae's mission is to bring comprehensive genetic information into mainstream medical practice to improve the quality of healthcare for billions of people. Our goal is to aggregate most of the world's genetic tests into a single service with higher quality, faster turnaround time and lower price than many single gene tests today. We are focused on making comprehensive genetic testing more affordable and more accessible than ever before, pursuing a large and rapidly growing market with a focus on price and quality. We aim to do so for the majority of genetic tests, consolidating most of them into a single offering at a price below the typical prices of many single gene or multi-gene panels. We launched our first commercial offering in late November 2013, an assay of 216 genes comprising 85 different genetic disorders and 17 targeted panels, and began selling and marketing our multi-gene panels with a focused effort on hereditary cancers, including breast, colon and pancreatic cancer. We charge $1,500 per sample in most cases, which allows our clients to receive test results on any or all genes in a specific indication or multi-gene panel. We also currently offer a free re-requisition of additional data within the same indication when ordered within 90 days of the date of service. In addition, clients may obtain test results on genes that are in other indications or panels, or genes within the same indication or panel more than 90 days after the date of the initial service, for an additional fee. Importantly, we are providing turnaround time of less than three weeks for the substantial majority of our tests. Since our initial launch, we have marketed additional panels addressing other genetic conditions based on the same assay of 216 genes. Since our commercial launch, we have delivered more than 2,000 billable tests as of September 30, 2014. From inception through September 30, 2014, approximately 26% of billable tests have been paid.
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IPO News for Invitae
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IPO Data
IPO File Date 01/09/2015
Offer Price $16.00
Price Range $13.00 - $15.00
Offer Shares (mm) 6.4
Deal Size ($mm) $102
IPO Data
IPO Date 02/11/2015
Offer Price $16.00
Price Range $13.00 - $15.00
Offer Shares (mm) 6.4
Deal Size ($mm) $102
Underwriters
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Company Data
Headquarters San Francisco, CA
Founded 2010
Employees 161
Website www.invitae.com