NEW YORK, May 16, 2026, 11:10 AM EDT
- Natera finished Friday at $186.36, down 5.36% for the day. The stock is off about 4.1% from last Friday’s close. The Nasdaq dropped 1.54%.
- Natera got FDA approval for its Signatera CDx test to be used with Genentech’s Tecentriq in a certain kind of bladder cancer.
- Nasdaq trading resumes on Monday. Investors are set to see if the FDA catalyst can balance the pressure on high-growth diagnostics stocks.
Natera shares dropped Friday, even after its Signatera cancer test cleared a major U.S. regulatory hurdle. Some traders were moving out of healthcare growth stocks ahead of the weekend, which weighed on the stock.
FDA says it cleared Signatera CDx as a companion diagnostic for adults with muscle-invasive bladder cancer and molecular residual disease after the bladder is removed. The test helps pick patients for a targeted drug. MRD refers to traces of cancer left after treatment that show up in blood before they appear on scans.
Nasdaq is closed for the weekend and trading is back to normal on Monday. There’s no U.S. market holiday until Memorial Day on May 25. For Natera, the question next week is whether the shares can act like a stock with a new FDA approval instead of just another growth name under pressure.
Natera shares ended Friday at $186.36, dropping from $196.91 the day before. The stock hit $184.81, its lowest point in the latest month, and ended the week below the May 8 close of $194.24. The Nasdaq lost 410.08 points to finish at 26,225.15.
FDA approval links Signatera with Genentech’s Tecentriq in patients with circulating tumor DNA, or ctDNA, in their blood. The agency reported the IMvigor011 trial showed median disease-free survival of 9.9 months for patients on atezolizumab, compared to 4.8 months for placebo. Median overall survival was 32.8 months with atezolizumab, 21.1 months for placebo.
Professor Thomas Powles, who leads the IMvigor011 trial and chairs Barts Cancer Centre, said the approval shows MRD gives answers on “when to treat, whom to treat.” Solomon Moshkevich, president of clinical diagnostics at Natera, called the decision “a major milestone” and said it “solidifies Signatera MRD” for muscle-invasive bladder cancer. Natera Investor Relations
Genentech chief medical officer Levi Garraway said pairing Tecentriq with MRD testing brings “more precise identification” of patients and could let others “safely avoid unnecessary treatment.” Meri-Margaret Deoudes, chief executive of the Bladder Cancer Advocacy Network, called the post-surgery period a time “defined by uncertainty.” Gene
Natera shares faced a rough patch after reporting earnings. The company posted first-quarter revenue of $696.6 million, a 38.8% jump from last year, and handled over 1 million tests in the quarter. Natera also bumped its 2026 revenue outlook to between $2.74 billion and $2.82 billion. But losses deepened, with a net loss of $85.1 million compared with $66.9 million a year ago.
Rivals are moving fast. Guardant Health and Tempus AI are pushing into blood-based cancer tests. The Wall Street Journal said this week that investors are now looking at MRD testing, where Natera’s Signatera is seen as key to the bull story.
But there’s a risk that approval alone won’t drive quick reimbursement, uptake by doctors, or margin gains enough for investors after the stock’s big run. Natera has warned regulators it sees losses ahead as it ramps research, development and commercial spending, and Tecentriq’s label carries warnings for immune-related and other serious side effects.
Traders are facing a choppy setup Monday, not a clear bullish move. If the stock stays above Friday’s $184.81 low, buyers may be stepping in. Getting back to the $194-$200 range would return it to last week’s band. But if Friday’s low breaks, and the Nasdaq or biotech names keep sliding, more profit-taking could hit ahead of the full FDA repricing.
