Volpara Health and Invitae are set to collaborate.
The post Here’s why the Volpara (ASX:VHT) share price is on the move today appeared first on The Motley Fool Australia. –
The Volpara Health Technologies Ltd (ASX: VHT) share price is rising in early morning trade.
At the time of writing, shares in the medical imaging software company are up 2.63% to $1.17.
Let’s look through the latest announcement moving the Volpara Health share price in early trade.
Collaboration agreement with Invitae
Investors are buying up Volpara shares this morning after the company announced a new agreement.
According to the release, Volpara has entered into a collaboration agreement with Invitae Corp (NYSE: NVTA). The US-based genetic information company has provided genetic services to more than one million people. Additionally, Invitae boasts a market capitalisation of US$5.97 billion.
As part of the agreement, Volpara’s customers in the United States will have access to Invitae’s range of genetic testing services. This will be available within the software workflow in different clinical settings.
Furthermore, Volpara plans to create a fully integrated ordering process for Invitae genetic testing services within Volpara’s suite of products.
The Volpara product suite is a touchpoint with the 32% of women who attend screening each year in the US. Coupling its risk-assessment software with Invitae’s genetic testing, the company believes it has the potential to offer increased value to mutual customers once clinically implemented.
Volpara CEO Dr Ralph Highnam commented on the development:
Volpara continues to be proud of its major role in driving the adoption of personalised breast screening in the United States. Our relationship with Invitae adds a prominent partner to our breast health platform and will allow us to offer increased value to our customers by ensuring that the right patients get seamless access to the right genetic testing at the right time.
Upcoming quarterly results
Anticipation could also be influencing the Volpara share price today. The company informed the market this morning that it will be releasing its quarterly cash flow statement on 27 July. That gives investors eight days before the release.
Considering Volpara remains unprofitable on the bottom line, shareholders will be hoping to see further revenue growth. The company’s previous quarterly result saw its 12-month trailing revenue jump 56.7% compared to a year ago.
Volpara Health share price snapshot
The Volpara Health share price has taken a tumble over the past 12 months. Compared to the S&P/ASX 200 Index (ASX: XJO), shares in the company have underperformed the benchmark by 40.4%. Likewise, shares in Volpara have trended ~12% since releasing its FY21 full-year results.
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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.