(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%.
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