CombiMatrix Higher After Buyout From Invitae

CombiMatrix Corp (NASDAQ: CBMX) shares are trading higher by $2.05 (40 percent) at $7.00 in Tuesday's session.

The family health molecular diagnostics company specializing in DNA-based reproductive health and pediatric testing services, announced it has entered into a definitive merger agreement with Invitae Corporation (NYSE: NVTA) to be acquired in an all-stock merger for approximately $33 million of combined consideration, based on a fixed price per share of Invitae's common stock of $9.49.

Off the open, CombiMatrix sprinted to $7.35 and then reversed course. The ensuing decline took the stock to $6.70, but has spent most the session trading just above and below the $7.00 level.