Moderna Inc. [NASDAQ: MRNA] has lost its efforts to discredit U.S. patent owned by Arbutus Biopharma [NASDAQ: ABUS], which has hampered Modernna’s next-generation vaccine efforts, including a coronavirus vaccine.
Moderna Inc. has argued that the Arbutus patent known as ‘069 patent’ should be rejected because it described obvious concepts. But the administrative court run by the US patent and trademark office refused to revoke the patent.
The 069 patent is related to lipid nanoparticle (LNP) that allows the human body to make its own therapeutics protein. Lipid nanoparticle technology is very important for Moderna Inc for the development of vaccines.
Moderna Inc considered Arbutus an obstacle in the vaccine development effort. The court order is disappointing but it doesn’t have an immediate financial impact on the company because of this decision.
Shares of Moderna Inc. traded down 9.49% during the trading of Friday. It had a trading volume of 29.29 million as compared to the average volume of 25.91 million. Moderna Inc has recorded sales of 52.60 million.
If we look at its profitability, its return on investment is 44.90%, return on assets is -29.20%, and return on equity is -37.40%. In the past 52-weeks of trading this company’s stocks has fluctuated between the low of 552.77% and a high of -20.88%.