NEW YORK (GenomeWeb) – Invitae has priced its offering of 11,111,111 shares of its common stock at a price of $4.50 per share.

The genetic testing firm had said earlier this week that it expected to offer 7,122,507 shares. But its stock price has tumbled since announcing the planned offering, from a close of $7.00 on Monday to a close of $4.84 yesterday on the New York Stock Exchange.

Invitae said that it expects gross proceeds from the offering of around $50.0 million.

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