logo
Plus   Neg
Share
Email

Stock Alert: Moderna Down 5% After Losing Patent Dispute

Shares of Moderna Inc. (MRNA) slipped over 5% on Friday morning after the company lost a patent case related to a technology used in its Covid-19 vaccine.

MRNA is currently trading at $71.54, down $3.79 or 5.04%, on the Nasdaq.

Moderna had filed the patent case against Arbutus Biopharma (ABUS) in January last year. Moderna argued that Arbutus patent for lipid nanoparticles, the technology used to deliver messenger RNA to a patients' cells, was unpatentable.

However, the Patent Trial and Appeal Board ruled in favor of Arbutus. The coronavirus vaccine candidate mRNA-1653, being developed by Moderna, is based on the LNP technology.

Arbutus shares are currently trading up 25%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT