Adds details from the report and shares in paragraph 2Feb 5 (Reuters) - Genetic test maker Invitae NVTA.N is preparing to file for bankruptcy within weeks, the Wall Street Journal reported on Monday, according to people familiar with the matter. The company is working with FTI Consulting and law firm Kirkland & Ellis to explore strategic options, including bankruptcy, to address $1.5 billion in debt on its balance sheet, according to the report . Invitae, which offers genetic testing services, digital health solutions and health data services, did not immediately respond to a Reuters request for comment. SoftBank Group 9984.T remains an investor in the company, the WSJ reported. (Reporting by Pratik Jain in Bengaluru; Editing by Anil D'Silva)((Pratik.Jain@thomsonreuters.com;))The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Wall Street Journal February 06, 2024 02:01 UTC