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Moderna shares fall after judge sides with Arbutus in patent fight
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Moderna shares fall after judge sides with Arbutus in patent fight
Apr 3, 2024 11:31 AM

(Reuters) - Shares of Moderna ( MRNA ) 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 ( MRNA ) 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 ( MRNA ) proposed definitions.

The order is relevant in determining whether Moderna's ( MRNA ) vaccines are covered by Arbutus' patented technology.

Shares of Moderna ( MRNA ) 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 ( MRNA ) 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 Ltd. ( ROIV )

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.

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