Invitae Receives Notice Of Non-Compliance With NYSE Minimum Share Price Continued Listing Standard
Portfolio Pulse from Benzinga Newsdesk
Invitae Corporation (NYSE:NVTA), a medical genetics company, has received a notice of non-compliance from the New York Stock Exchange (NYSE) due to its average closing price being less than $1.00 per share over a 30-day trading period. The company has notified the NYSE of its intent to comply with the listing standards within the required cure period. The notice does not affect the company's business operations or its material debt or other agreements.
September 22, 2023 | 8:35 pm
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Invitae's stock price has fallen below the NYSE's minimum requirement, leading to a non-compliance notice. The company plans to rectify this within the required cure period. This does not affect the company's operations or agreements.
The NYSE's non-compliance notice is a significant event for Invitae, as it indicates that the company's stock price has been consistently low. However, the company's intent to comply with the listing standards within the required cure period suggests that it is taking steps to address this issue. This event does not affect the company's business operations or its material debt or other agreements, which suggests that it is not a fundamental issue with the company's performance or financial health.
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