Why Invitae Stock Was So Healthy This Week
According to data compiled by S&P Global Market Intelligence, genetics testing company Invitae's (NYSE: NVTA) stock was up 6% in price week to date as of Friday before market open. Investors reacted quite positively to news of a new company partnership with a heavy hitter in the pharmaceutical world.
That partner is global pharmaceutical titan AstraZeneca (NASDAQ: AZN), which will utilize Invitae's Ciitizen natural history data in a clinical study of cholangiocarcinoma -- a rare form of bile duct cancer. Under the terms of the arrangement, Invitae and AstraZeneca will share this data, which derives from the community of advocacy group the Cholangiocarcinoma Foundation and has been provided by patient consent.
Invitae did not divulge the financial terms of the data-sharing deal.
Source Fool.com
