Why InVitae Corp (NYSE: NVTA) stock is soaring to the sky

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InVitae Corp (NYSE: NVTA), an advanced medical genetics company stock rose by whopping 44.58% on June 22nd, 2020 (Source: Google finance). The company & ArcherDX, a leading genomics analysis company democratizing precision oncology, have signed a definitive agreement under which Invitae will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale in cancer genetics and precision oncology. As per the agreement between the two Invitae will acquire ArcherDX for upfront consideration comprising of 30 million shares of Invitae common stock and $325 million in cash, along with an additional 27 million shares of Invitae common stock that will be paid in connection with the achievement of certain milestones, for an overall transaction valued at approximately $1.4 billion. The agreement is subject to customary closing conditions that includes the approval by the stockholders of Invitae and ArcherDX, has already been unanimously approved by the boards of directors of both companies and is anticipated to close in several months.

Moreover, after this agreement the combined entity will able to strongly the transform cancer patients’ overall care. The merger is expected to integrate germline testing, tumor profiling and liquid biopsy technologies and services in a single platform, which will facilitate precision personalized oncology approaches from diagnostic testing to therapy optimization and monitoring. The combined organization’s centralized and local testing capabilities will able to cater the customers in more than 95 markets. Invitae’s target is always to integrate the world’s genetic tests into a single platform in order to bring comprehensive genetic information into mainstream medicine.

Additionally, with this agreement NVTA has become a leader in diagnostic and hereditary risk testing and has strong relationships with clinicians caring for cancer patients, including cancer genetic counselors, oncologists and imaging centers. Together, NVTA will be ideally positioned to serve customers across the continuum, from individuals and community clinicians to biopharmaceutical partners, distribution partners, reference laboratories and academic centers. Invitae’s central laboratory offers support for customers who prefer to send out and can benefit from a full suite of services including reporting, clinician consultation and genetic counseling for patients, while ArcherDX’s decentralized model supports geographies and customers where local control of patient reporting is either desired or required.

Meanwhile, ArcherDX is currently developing in-vitro diagnostic (IVD) products, that includes STRATAFIDE DX, for therapy optimization, for the projected $5 billion market opportunity with U.S. Food and Drug Administration (FDA) submissions planned this year, and the broadly applicable Personalized Cancer Monitoring (PCM) in development for disease recurrence monitoring, therapy optimization including selection, response and modulation.

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