Quick Take
Invitae (NVTA) said that it has agreed to acquire Clear Genetics for approximately $50 million in cash and stock.
Clear Genetics has developed a healthcare chatbot system that provides genetic testing information to patients and counselors.
With the deal, NVTA is continuing to acquire complementary technologies in its quest to become an integrated provider of genetic information to patients and clinicians.
However, short interest in the stock is significant and I suspect management will need to make a significant move toward profitability in the near future to avoid continued softness in