Here's Why Invitae Rose as Much as 13.8% Today
Shares of genomics leader Invitae (NYSE: NVTA) rose nearly 14% Tuesday after the company reported third-quarter 2017 earnings Monday afternoon. Investors have become accustomed to eye-popping growth numbers in recent quarters -- and the most recent three-month period didn't disappoint.
The company, which deploys a business model based on selling high volumes of high quality genetic tests spanning the entire human genome, reported record revenue, gross profit, and testing volume. It also cut its cost of goods per sample to record lows. Although it was a mostly positive quarter, investors should note that Invitae continues to burn through cash and report relatively large net losses as it attempts to expand its market share for long-term success.
As of 3:41 p.m. EST, the stock had settled to a 12.4% gain.
Source: Fool.com