Moderna Shares Fall After Judge Sides With Arbutus In Patent Fight By Reuters | Old North State Wealth News
Connect with us


Moderna shares fall after judge sides with Arbutus in patent fight By Reuters



(Reuters) – Shares of Moderna (NASDAQ:) fell 4% on Wednesday after a U.S. judge issued an order that strengthened Arbutus’ arguments in a patent infringement lawsuit related to Moderna’s blockbuster COVID-19 vaccines.

In a so-called “claim construction order”, U.S. District Judge Mitchell Goldberg interpreted parts of the patents in ways that strengthened Arbutus’ case, rejecting Moderna’s proposed definitions.

The order is relevant in determining whether Moderna’s vaccines are covered by Arbutus’ patented technology.

Shares of Moderna fell 4.6% to $98.81, while Arbutus shares rose more than 15% to $2.91 in afternoon trading.

The lawsuit, which was filed in 2022, has Arbutus seeking damages for infringement of U.S. patents related to Moderna’s COVID-19 vaccine.

Arbutus said it developed the so-called lipid nanoparticles (LNP) that enclose the vaccine’s mRNA payload, the patents related to which were licensed to Genevant Sciences, a joint venture between Arbutus and Roivant Sciences (NASDAQ:) Ltd.

The technology is used to deliver RNA to target cells without being attacked by the body’s immune system.

A trial in the case is currently set to begin next April.

Read the full article here


Copyright © 2022 ONSWM News. Content posted on the Old North State Wealth News page was developed and produced by a third party news aggregation service. Old North State Wealth Management is not affiliated with the news aggregation service. The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date the articles were published. The information presented is not an offer to buy or sell, or a solicitation of any offer to buy or sell, any of the securities discussed.