By focusing too heavily on family history, the Preventive Services Task Force is missing many opportunities for prevention, patient advocates, industry players, and researchers say.
The company plans to sell 9 million shares at $19.00 per share, which is expected to bring in $171.0 million in gross proceeds.
Invitae hasn't priced the offering yet or disclosed how many shares it will offer, but it expects net proceeds to range from $117.1 million to $134.7 million.
Many diagnostic firms saw gains in their stock prices last month as Invitae and NantHealth also saw healthy increases.
Free genetic testing on a broad gene panel is available to children, from birth to five years old, if they've had an unprovoked seizure.
Last week, Invitae launched its Non-Invasive Prenatal Screening test while Myriad expanded its Prequel Prenatal Screen to cover all aneuploidies.
The new channel, to be launched in the second quarter, is part of the company's plan to make genetic testing affordable and accessible to everyone.
For the last three months of 2018, Invitae reported $45.4 million in revenues compared to $25.4 million in Q4 2017, beating the consensus Wall Street estimate.
CMS's move to restrict coverage could limit test access for early-stage cancer patients and negatively impact lab revenues.
In an effort to lift patient access barriers, the company is launching a model whereby consumers will be able to initiate test orders online.