Guardant Suits Against Tempus AI Clear Dismissal Bids

Ark Invest's ARK Innovation ETF, managed by Cathie Wood, allocated $1.4B to three AI-related stocks: Tesla (TSLA) with a $595M position and $2,600 price target by 2029, Tempus AI (TEM) with a $402M position, and SpaceX (SPCX) with a $378M position. The ETF has $6.42B in assets under management.

Tempus AI (TEM) shares rose after Moderna and Merck reported positive Phase 3 trial results for a personalized cancer therapy, validating Personalis' sequencing technology. Tempus agreed to acquire Personalis for $1.5B, with the deal pending. Personalis' technology is distinct from the main target of the acquisition, NeXT Personal, a tumor-informed molecular residual disease test. Tempus reported 9,000 MRD tests in Q2, while Personalis generated $22.357M in revenue and delivered 10,384 clinical

TwinStrand Biosciences and the University of Washington won a patent infringement case against Guardant Health, with the court awarding $245.2M in damages and royalties. The judgement upholds a jury verdict that Guardant willfully infringed two patents and must pay a 6% royalty on relevant sales until 2033. The court also affirmed the validity of the patents in question.

Guardant Health was ordered to pay $245.2m to TwinStrand Biosciences and the University of Washington for patent infringement. The ruling covers 11 products, including Guardant360 CDx, and includes damages, royalties, and interest. Guardant plans to appeal, while TwinStrand affirms its commitment to its intellectual property.

Personalis Inc. (PSNL) fell 6% after Craig-Hallum downgraded it to hold from buy, citing an unlikely higher bid than its announced sale to Tempus AI (TEM). Tempus shares also dropped 7.2%.

Guardant Health (GH) lost a patent dispute and was ordered to pay $245.2M in damages, royalties, and interest. The company must also pay a 6% royalty on sales of key products, including Guardant360 and Shield tests. The ruling caused GH stock to decline.