Shares of genetic testing company Invitae (NYSE: NVTA) have surged more than 40% over the past month, a combination of improving investor sentiment toward growth stocks as well as the company's preliminary release of financial results for 2022. The company has seemingly made considerable progress in strategic plans to reduce losses and push the business toward profitability.

However, 2024 remains an important date for management that it may not be ready for yet. Investors need to know about this upcoming event and consider the potential ramifications before buying shares. Here is what you need to know.

Earlier this past summer, Invitae's management announced plans to exit non-core businesses to push the company toward positive cash flow. A couple of quarters later -- so far, so good. You can see in the chart below that free-cash-flow losses have stabilized and begun falling.

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Source Fool.com