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This story has been updated from a previous version to add comments made by company executives during Invitae's earnings call.

NEW YORK (GenomeWeb) – Invitae reported after the close of the market Tuesday a 47 percent increase in first quarter revenues, missing analyst estimates due to seasonally lower accessioned test volumes.

For the three months ended March 31, the firm generated $40.6 million in revenue compared to $27.7 million in Q1 2018, and below the consensus Wall Street estimate of $47.2 million.

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