Core Viewpoint - Natera, Inc. has submitted a premarket approval (PMA) application to the U.S. FDA for its Signatera™ CDx, aimed at detecting molecular residual disease (MRD) in muscle-invasive bladder cancer (MIBC) patients who may benefit from atezolizumab treatment [1] Company Summary - Natera, Inc. is recognized as a global leader in cell-free DNA and precision medicine [1] - The PMA submission is backed by data from a randomized, double-blind, phase 3 clinical trial known as IMvi [1]

Core Insights - Natera, Inc. has announced the publication of a new prospective clinical trial in Transplantation Direct, focusing on donor-derived cell-free DNA (dd-cfDNA) surveillance [1] - The study was conducted by The Ohio State University Wexner Medical Center (OSU-WMC) to evaluate whether Prospera-guided monitoring can reduce the number of invasive biopsies for patients [1] Company Overview - Natera, Inc. is recognized as a global leader in cell-free DNA and precision medicine [1] - The company is actively involved in advancing non-invasive monitoring techniques in the field of transplantation [1] Industry Context - The trial aims to enhance patient care by potentially minimizing the need for invasive procedures, which is a significant concern in transplantation medicine [1] - The use of dd-cfDNA surveillance represents a growing trend in precision medicine, emphasizing the importance of non-invasive diagnostic methods [1]

Group 1: Voya MidCap Opportunities Fund Performance - Voya MidCap Opportunities Fund's Q4 2025 investor letter highlighted solid market gains but noted relative underperformance against the Russell Mid Cap Growth Index due to unfavorable stock selection [1] - The fund's managers expressed a cautiously constructive outlook, emphasizing the importance of active and flexible positioning amid geopolitical risks and policy uncertainty [1] - The letter indicated that broadening market leadership, sustained corporate capital expenditure, and AI-led innovation could support future returns [1] Group 2: Natera, Inc. Performance Impact - Natera, Inc. (NASDAQ:NTRA) experienced significant stock price appreciation, with a one-month return of 6.17% and a trading range of $125.38 to $256.36 over the past 52 weeks [2] - The absence of Natera in the fund's portfolio negatively impacted performance, particularly as the stock rose following a strong earnings announcement [3] - Natera's market capitalization was approximately $34.247 billion as of January 22, 2026, with the stock closing at around $242.91 per share [2]

Market Overview - The US equity market ended Q4 2025 positively, with the S&P 500 increasing by 2.7%, reflecting steady upward momentum [1] - Investor optimism was bolstered by better-than-expected corporate earnings, the US Federal Reserve's interest rate easing stance, and a resilient macroeconomic backdrop [1] - Clarity on trade policy provided additional support, although there was increasing divergence below the index level [1] Investment Trends - There is growing skepticism regarding AI investments due to bottlenecks, financing challenges, and uncertainty about return generation [1] - The firm continues to identify secular trends that present attractive investment opportunities for small-cap stocks [1] Fund Performance - In Q4 2025, Class A shares of the Alger Small Cap Focus Fund outperformed the Russell 2000 Growth Index [1] - The Utilities and Financials sectors contributed positively to the Fund's performance, while the Consumer Discretionary and Information Technology sectors detracted from it [1] Company Spotlight: Natera, Inc. - Natera, Inc. (NASDAQ:NTRA) is highlighted as a leading diagnostics and research company specializing in molecular testing services [2][3] - The stock had a one-month return of -0.31% but gained 46.03% over the last 52 weeks, closing at $231.25 per share with a market capitalization of $32.248 billion on January 16, 2026 [2] - Natera provides high-value genetic testing across reproductive health, oncology, and transplant, utilizing a proprietary cell-free DNA liquid biopsy platform [3] - The company reported strong fiscal Q3 earnings, with management indicating revenue and margin performance exceeding expectations due to higher test volumes and favorable reimbursement dynamics, particularly in the Signatera franchise [3]

Core Insights - Natera's mission is to transform disease management globally through proprietary technology that detects minute quantities of DNA, combining molecular and bioinformatics techniques [2] - The company launched its first product, Panorama, in 2013, a cell-free fetal DNA test for chromosomal abnormalities, and has since become the market leader with over 50% market share [3] - Natera has expanded its technology applications to organ health with Prospera, which non-invasively identifies organ transplant rejection using donor-derived cell-free DNA, and to oncology with Signatera, which monitors minimal residual disease and recurrence through circulating tumor DNA [3]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Summary of Natera's Conference Call Company Overview - **Company**: Natera - **Industry**: Life Sciences, Diagnostics, Oncology, Women's Health - **Core Mission**: Transforming disease management globally through proprietary technology that detects small quantities of DNA [2][3] Key Products and Market Position - **Panorama**: A cell-free fetal DNA test for chromosomal abnormalities, leading with over 50% market share [2] - **Prospera**: A test for organ transplant rejection using donor-derived cell-free DNA [2] - **Signatera**: A circulating tumor DNA test for minimal residual disease (MRD) monitoring, achieving record growth with 22,000 clinical MRD tests in Q4 [3][4] Financial Performance - **Q4 2025 Revenue**: $660 million, up 39% year-over-year, driven by strong average selling prices (ASPs) and volume growth [4] - **Free Cash Flow**: Exceeded $100 million for the year [5] - **Unit Sales**: 924,000 units in Q4, with significant growth in oncology and women's health [3][4] Innovations and Future Growth Drivers - **Fetal Focus**: A new 21-gene single-gene NIPT test aimed at severe genetic disorders, filling a gap in clinical care [5][6] - **Signatera Enhancements**: Incorporation of phased variants technology for improved sensitivity, targeting a limit of detection (LOD) down to one part per 10 million [10][11] - **AI Integration**: Development of an augmented MRD score using AI and a foundation model to enhance precision in risk assessment [12][13] Clinical Trials and Partnerships - **Clinical Trials**: Significant investments in clinical trials, particularly in breast cancer, with over $100 million allocated for evidence generation [16][17] - **STELLAR Trial**: A pivotal phase three trial in colorectal cancer, leveraging Signatera for patient enrollment [18][35] - **Partnerships**: Collaborations with NVIDIA for AI initiatives and Ultima Genomics for new product launches [22] Market Dynamics and Competitive Landscape - **Market Share**: Natera holds over 50% market share in women's health and is focused on maintaining and expanding its position through innovation and clinical evidence [25][39] - **Lymphoma Market**: Interest in expanding into lymphoma and hematologic cancers, leveraging Foresight Diagnostics' technology [27][28] Regulatory and Reimbursement Strategies - **Medicare Coverage**: Ongoing efforts to expand Multi-X coverage, with 30% of tests currently not covered under Medicare [21] - **Reimbursement Process**: Coordination with MolDX for new assay coverage, emphasizing the importance of generating data [32] Future Outlook - **2026 Goals**: Plans to complete enrollment for the FIND study in early cancer detection and launch new products incorporating advanced technologies [21][22] - **Operating Margins**: Expectation of growing into profitability as revenue matures, with a focus on maintaining operational efficiency [46][48] Conclusion Natera is positioned for significant growth through innovative product offerings, strategic partnerships, and a strong focus on clinical evidence generation. The company aims to leverage its market leadership in diagnostics to expand into new therapeutic areas while enhancing its existing product lines.

Natera, Inc. Investor presentation J.P. Morgan Healthcare Conference January 13, 2026 1 Safe harbor statement This presentation containsforward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Allstatements other than statements of historical facts contained in this presentation, including statements regarding our market opportunity, our anticipated products and launch schedules, our reimbursement coverage and our product costs, our commercial and strategic partn ...

Core Insights - Natera is focused on transforming healthcare through innovative genetic testing and precision medicine solutions, collaborating with NVIDIA to enhance its AI capabilities [1][2] - The partnership with NVIDIA aims to leverage advanced AI technology for more accurate and personalized medical solutions, reflecting Natera's commitment to integrating cutting-edge technology [2][4] Company Performance - Natera's stock price was $234.31 at the time of the NVIDIA announcement, with Canaccord Genuity reiterating a Buy rating, indicating confidence in the company's growth potential [2] - The stock experienced a slight decrease of approximately 0.25% to $234.87, with fluctuations between a low of $231.08 and a high of $237.74 on the same day [3] - Over the past year, Natera's stock reached a high of $256.36 and a low of $125.38, showcasing significant volatility and growth potential [3] Market Position - Natera's market capitalization is approximately $32.42 billion, indicating a substantial presence in the healthcare sector [4] - The trading volume for the day was 574,776 shares on the NASDAQ exchange, reflecting active investor interest [4] - The collaboration with NVIDIA is expected to bolster Natera's position in the precision medicine market, driving advancements in AI model development and application [4]

Core Insights - Natera (NTRA) has partnered with NVIDIA (NVDA) to accelerate the development of a multimodal AI foundation model platform aimed at enhancing precision care [1][7] - The collaboration will leverage Natera's extensive longitudinal datasets and machine learning models alongside NVIDIA's advanced computing technology to improve medical data analysis [2][3] Company Developments - The partnership aims to create advanced computational systems for training large-scale AI models, which will facilitate more accurate diagnoses and personalized treatment decisions [2][5] - Natera's AI solutions utilize one of the largest cancer datasets globally, with its NeoSelect system outperforming 25 existing neoantigen prediction methods [8] - The collaboration is expected to enhance Natera's competitive advantage by improving its AI and data capabilities, leading to new revenue streams and stronger relationships with biopharma partners [5] Financial Performance - Following the announcement of the collaboration, Natera's stock increased by 0.5%, with a notable 48.9% rise over the past six months, significantly outperforming the industry and S&P 500 [4] Industry Outlook - The AI in oncology market is projected to reach $2.40 billion by 2026, with a compound annual growth rate (CAGR) of 27.6% through 2035, driven by technological advancements and increasing cancer cases [11]