Stock Alert: Arbutus Biopharma Up 25% After Winning Patent Dispute With Moderna

(RTTNews) - Shares of Arbutus Biopharma Corp. (ABUS) gained over 25% on Friday morning after the U.S. Patent and Trademark Office ruled in favor of the company in a patent dispute with Moderna Inc. (MRNA)

ABUS is currently trading at $7.83, up $1.63 or 26.29%, on the Nasdaq.

The decision will help Arbutus make a royalty claim for products developed by Moderna using lipid nanoparticle delivery technology. This technology is currently being used by Moderna to develop a COVID-19 vaccine, known as MRNA-1273.

Moderna had filed the patent case against Arbutus Biopharma 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.

Meanwhile, Moderna shares are trading down 7%.