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NYSE Suspends Invitae Stock Trading, Begins Delisting Proceedings

NEW YORK – Invitae disclosed in a Tuesday after-market filing with the US Securities and Exchange Commission that the New York Stock Exchange notified the company that it would begin proceedings to delist Invitae's common stock and was immediately suspending trading due to "abnormally low" trading price levels.

Invitae said that it expects to continue trading on the OTC Pink platform or another market operated by OTC Markets Group.

The San Francisco-based genetic testing firm noted in its filing that the OTC is a significantly more limited market than the NYSE, and that quotation there may result in a "less liquid market" for existing and potential stockholders and could further depress the trading price of Invitae's common stock.

The company's shares declined sharply Tuesday, following a report that the company is preparing to file for bankruptcy.

Invitae's stock stopped trading midafternoon Tuesday at $.08.