The good news for Arbutus Biopharma today is that a court of appeals is backing up the U.S. Patent and Trademark Office in supporting the company’s LNP patents. LNP’s are used in RNA-based vaccines to get the treatment where it needs to go.
Moderna has been fighting against the patents held by Arbutus Biopharma as it uses LNPs in its vaccine for Covid-19. The company is arguing that LNPs aren’t patentable, despite having previously licensed them from Arbutus Biopharma for other uses.
To put it in simple terms, this ruling has Arbutus Biopharma one step closer to collecting royalties from Moderna for its Covid-19 vaccine. Genevant, a company that Arbutus Biopharma spun off, currently owns the patents. However, ABUS still owns a 16% stake in the business, reports The Motley Fool.
The court news today is bringing extra attention to ABUS stock, which is seeing heavy trading as a result. That has some 251 million shares of the stock changing hands as of this writing. That’s a massive surge compared to the company’s daily average trading volume of about 2.5 million shares.
ABUS stock is up 66% as of Wednesday afternoon and is up 45.6% since the start of the year. MRNA stock is down 6.6% as of this afternoon.
There’s more stock market news for investors to take a look at below!
We’ve got all the most recent stock news that traders need to know about for Wednesday. Among that is the earnings news sending Box (NYSE:BOX) stock higher, the layoff reports hitting iQIYI (NASDAQ:IQ) stock, as well as the FDA update sending BeyondSpring Pharmaceuticals (NASDAQ:BYSI) shares lower today. You can get all of that news from the following links!
More Stock Market News for Wednesday
- BOX Stock: The Good News That Has Box, Inc. Shares Bounding Higher Today
- iQIYI Layoffs: 10 Things for IQ Stock Investors to Know About the Massive Job Cuts
- BYSI Stock Alert: Bad News From the FDA Has BeyondSpring Tanking Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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