On July 31, 2023, Natera, Inc. (“Natera”), announced it had sued NeoGenomics in federal court, alleging that the NeoGenomics’ cancer test, the RaDaR molecular residual disease assay, infringed Natera’s patents.
Then, on December 27, 2023, Natera announced that the federal court had issued a preliminary injunction, effective immediately, barring NeoGenomics from making, using, selling, or promoting the RaDaR test, but that NeoGenomics may continue to offer RaDaR to existing patients and for clinical trials, studies, or projects that have been approved or in progress.
On December 28, 2023, NeoGenomics issued a press release, stating it would “appeal the preliminary injunction.”
On this news, NeoGenomics’ stock price fell $3.71 per share, or 18%, to close at $16.79 per share on December 28, 2023.