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

Reuters

Feb 22

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

** 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))

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