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Arbutus Biopharma (NASDAQ:ABUS) quickly soared 19% after a claim construction order in a Covid vaccine patent dispute with Moderna (NASDAQ:MRNA) according to a court filing on Wednesday. Moderna fell 2%.
The claims construction patent decision comes after a Markman hearing in February.
Arbutus (ABUS) and Genevant Sciences, a venture between the company and Roivant Sciences (ROIV) filed against Moderna (MRNA) in 2022 over several patents related to the production and sale of the biotech's COVID shot. Roivant rose 3%.
“Today’s claim construction order was virtually identical with Arbutus’ (ABUS) proposals for the disputed terms," Rangeley Capital's Chris DeMuth told Seeking Alpha in an interview. "This is a big problem for Moderna (MRNA) heading into a trial that will now literally be fought on Arbutus’ terms. I should disclose that ABUS/ROIV is a top three exposure for me. Today’s opinion is consistent with our thesis that this is valuable IP that ABUS will successfully defend.”
Last April, a U.S. appeals court sided with Moderna (MRNA) in a years-long patent dispute between the biotech and Arbutus (ABUS) over messenger-RNA-based COVID vaccine technology.
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