Guardant Health sues Natera alleging trade secrets theft; shares of companies fall

Guardant Health

21/02/2025 19:12

** Shares of genetic testing firm Natera  NTRA.O  down 4.2%
at $160.63, while shares of medical diagnostics company Guardant
Health  GH.O  down 10.5% at $42.40, in afternoon trade 
    ** Guardant Health has sued rival Natera in a California
federal court for allegedly stealing trade secrets related to
cancer-detection blood tests
    ** In a lawsuit filed Thursday, Guardant said its scientists
poached by Natera transferred thousands of confidential files to
the company to develop competing tests
    ** NTRA denies the allegations, calling them "baseless" and
says it will defend itself against the claims
    ** GH is seeking a court order to block the scientists from
sharing its secrets and is also seeking monetary damages
    ** Attorneys and spokespersons for Guardant did not
immediately respond to requests for comment
    ** GH gained 15.3% and NTRA more than doubled in 2024


 (Reporting by Siddhi Mahatole and Kamal Choudhury)
 ((Siddhiprabhanjan.mahatole@thomsonreuters.com))