Invitae | GenomeWeb

Invitae

The new assay, called the CellMax-DNA Genetic Cancer Risk Test, will complement CellMax Life's planned slate of liquid biopsy assays for early cancer detection.

The company also increased the expected gross proceeds from the offering to $44 million from a previous estimate of $40 million. 

An underwriter will also have a 30-day option to buy as much as $6 million shares of common stock at the public offering price.

In addition to Illumina and Thermo Fisher, the investment bank reinitiated coverage of Bruker, Invitae, Agilent, Waters, and T2 Biosystems.

The firm reported $6.3 million in third quarter revenues compared to $2.2 million in the year ago period, but fell short of the consensus Wall Street estimate of $7.5 million.

The deal suggests the company is making steady progress toward its goal of signing coverage deals with all major private payors by year end.

"The idea is to open up a completely new market for bringing genetics into the lower-risk general population," Invitae CEO Randy Scott told GenomeWeb.

The first apps will be for individuals at low risk for inherited forms of cancer and heart disease, and will require a doctor's permission.

The national provider agreement is the latest in a series of deals related to reimbursement for the firm's genetic tests. 

CMS final pricing for a number of CPT codes brings positive news for various gene sequencing procedures and multi-analyte algorithm assays.

Pages

In PNAS this week: genes involved in histone deacetylation in Arabidopsis, effects of pathogenic presenilin-1 mutations, and more.

After a study finds DNA from antibiotic-resistant bacteria in Beijing smog, residents there worry, according to the New York Times.

Canada begins its search for a chief government science advisor, Nature News reports.

A company is using facial recognition tools to identify genetic disorders from pictures, Technology Review reports.