San Francisco-based medical genetics company, Invitae (NYSE:NVTA), received a notice from the New York Stock Exchange (NYSE) on Tuesday, indicating that the firm is not in compliance with Section 802.01C of the NYSE Listed Company Manual. The violation was due to the average closing price of Invitae's common stock falling below $1.00 per share over a consecutive 30 trading-day period.
The NYSE notice, however, does not have an immediate impact on the listing of Invitae's common stock on the exchange, provided that the company adheres to the NYSE's continued listing requirements. Invitae has notified the NYSE of its intent to bring the company back into compliance within the stipulated cure period.
Invitae is a leading provider in medical genetics, and delivers timely genetic information using digital technology. The company aims to provide accurate and actionable answers to strengthen medical decision-making for individuals and their families.
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