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Investing.com -- NeoGenomics Inc (NASDAQ:NEO) stock surged 25.4% after a North Carolina district court ruled in its favor in a patent dispute with Natera Inc (NASDAQ:NTRA), whose shares fell 2.9% following the decision.
The District Court for the Middle District of North Carolina granted NeoGenomics’ motion for summary judgment, invalidating all of Natera’s asserted patent claims for "claiming ineligible subject matter." The court will dismiss Natera’s claims against NeoGenomics with prejudice and enter a declaratory judgment of invalidity for both of Natera’s asserted patents.
This ruling allows NeoGenomics to freely commercialize its RaDaR ST assay (formerly RaDaR 1.1), which the company has already launched to biopharma customers. NeoGenomics has also submitted the assay to the Centers for Medicare & Medicaid Services’ Molecular Diagnostic Services Program for clinical reimbursement coverage.
"We are pleased with the Court’s decision to invalidate Natera’s asserted patents. NeoGenomics is committed to providing cancer patients the most comprehensive array of diagnostic testing options to enable the highest quality of personalized care, which includes providing options for their MRD testing," said Tony Zook, CEO of NeoGenomics.
Natera stated it is evaluating options including an appeal and further enforcement with other patents. The company emphasized that these invalidated patents are distinct from U.S. Patent No. 11,519,035, which was the basis for a previous injunction against NeoGenomics’ RaDaR v1.0 product. Natera maintains a portfolio of more than 500 issued or pending patents worldwide.
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