Small-cap biotech stocks Arbutus Biopharma Corporation (NASDAQ: ABUS) are emerging strongly in above-average volume on Wednesday.
What happened: The Board of Patent Appeals and Trials dismissed Moderna, Inc. ‘s appeal. (NASDAQ: MNR) to invalidate two of Arbutus’ patents on the drug delivery generation used in the first COVID-19 vaccine.
“We have tested the remaining arguments of the parties, but they are not convincing. As a result, we reject Moderna’s appeal for lack of legitimacy,” the board said in a record on Wednesday.
Moderna’s vaccine uses liquid nanoparticles, which are tiny balls of fat that mRNA passes through the frame to enter express cells.
Related Link: Moderna Is Now More Valued Than Gilead, GlaxoSmithKline: How Long Did It Take for the COVID-19 Vaccine Maker to Succeed at $100 Billion?
Why it matters: Moderna’s fortunes are strongly related to its vaccination program. From a clinical-stage biopharmaceutical company powered by mRNA technology, Moderna moved to a commercial-stage company after the Food and Drug Administration legalized its COVID-19 vaccine last December. 2020.
Moderna’s third-quarter effects released in early November showed the company had $5 billion in revenue, consisting almost entirely of vaccine sales.
The company has set product sales for fiscal year 2021 from $15 billion to $18 billion.
ABUS, MRNA Price Action: In the last check, Arbutus shares rose 44. 84% to $4. 64, while Moderna fell 7. 21% to $327. 03.
Related Link: Pfizer’s COVID-19 Franchise Could Surpass $100 Billion in Revenue in 2022: Analyst