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