Please let us know if you have feedbackInvitae has hired restructuring advisers as it explores strategic options, including a potential bankruptcy filing, the Wall Street Journal reported Monday, citing unnamed sources familiar with the matter. The genetic testing company could file for bankruptcy within weeks, according to the Journal report. The Invitae spokesperson declined to comment specifically on the Journal report and "market rumors and speculation." In January, Invitae sold its reproductive health assets to Natera for $10 million upfront and up to $42.5 million in milestone payments and litigation credits. According to the Journal article, Invitae is working with investment bank Moelis and FTI Consulting to explore strategic options, including bankruptcy, to address $1.5 billion in debt on its balance sheet.

Source: Wall Street Journal February 07, 2024 21:25 UTC