MRNA News & Events

Citi says the European Patent Office Board of Appeal invalidated a key Arbutus Biopharma (ABUS) delivery technology patent, which is a "clear win" for Moderna (MRNA). The invalidation neutralizes a "significant legal threat" for Moderna before the Unified Patent Court and reduces its potential royalty exposure on the continent, the analyst tells investors in a research note. However, Citi believes Moderna's U.S. patent battle remains the primary overhang on the shares. It keeps a Neutral rating on the stock with a $28 price target.

Arbutus Biopharma (ABUS) disclosed on Friday that the Board of Appeal of the European Patent Office revoked the company's European patent EP 2279254. "This verbal decision, provided without reasons, was rendered in connection with Notices of Opposition to the '254 Patent originally filed by affiliates of Moderna Therapeutics, Inc. Merck, Sharp & Dohme Corporation in April 2018, and follows two prior decisions by the EPO's Opposition Division upholding an amended version of the '254 Patent. A written decision is expected in the next few months," Arbutus said in a regulatory filing. Arbutus "disagrees" with the outcome, and upon receipt of the written decision, plans to file a petition for review by the Enlarged Board of Appeal of the European Patent Office. The decision is likely to affect the case brought by the company and its licensee Genevant Sciences against Moderna (MRNA) in Switzerland and one of two cases brought by the company and Genevant against Moderna in the Unified Patent Court in which the '254 Patent is asserted, Arbutus added. The company does not expect the decision to have an impact on the potential outcome, of its patent infringement litigation pending against Moderna in the United States, Japan or Canada.

The major averages had a tepid session, all closing fractionally lower, with the S&P 500 nearing the 7,000 mark and the Dow remaining close to the 50,000 level. Bank earnings kicked off with a mixed week, and strength in semiconductors hasn't completely pushed back concerns around mixed macro signals.Looking to commodities, oil prices eased after the chance of a U.S. strike on Iran receded, tempering energy sector pressure, while gold dipped on stronger U.S. data boosting the dollar and reducing near-term rate-cut bets.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Vistraand Constellation Energywere slipping after the White House reached an agreement with a number of U.S. states to curb electricity costs,PNC Financialreportedand provided guidance for Q1 and FY26Regions Financialreported downbeat, with Wells Fargo downgrading the stockJ.B. Huntreported, saying the "freight market feels fragile" entering 2026Drugmakers are concerned about legal risk with the FDA's expedited review program,2. WALL STREET CALLS:BioNTechto Buy at Goldman Sachs on cancer potentialSusquehannaSeagateto Neutral on HDD industry growthKraft Heinzto Underweight at Morgan StanleyTractor Supplyto Hold at TruistHP Inc.to Underweight at Barclays3. AROUND THE WEB:The U.S. Supreme Court will hear Bayer'sappeal of Roundup lawsuitst, Bloomberg reportsBeyond Meatis testing a line of protein drinks, WSJ reportsThe European Patent Office appeals board has revoked one of Arbutus Biopharma'spatents, which is likely to affect its case against Modernain Switzerland and one Unified Patent Court case, Bloomberg saysAlibabaplans to link its online shopping and travel services to its AI app, Qwen, to build it into a one-stop artificial intelligence platform for consumers, Bloomberg saysThe proposed merger between Rio Tintoand Glencoremay require asset sales to win approval from China, which has concerns about resource security and market concentration, Reuters says4. MOVERS:ImmunityBiohigher after announcingfrom its ongoing QUILT-206 studyAST SpaceMobileincreases after beingby Missile Defense AgencyRiot Platformsgains after announcing a land acquisition andwith AMDSasollower after in New York JPMorganthe stock to UnderweightEndeavour Silverfalls in New York after providing5. EARNINGS/GUIDANCEOndasprovidedand raised its outlook for FY26WaFd, with revenue missing consensusWipro, with CEO Srini Pallia commenting, "In Q3, we delivered broad based growth in line with our expectations"QXOreportedState Street, with EPS and revenue beating consensusINDEXES:The Dow fell 83.11, or 0.17%, to 49,359.33, the Nasdaq lost 14.63, or 0.062%, to 23,515.39, and the S&P 500 declined 4.46, or 0.064%, to 6,940.01.

Moderately bullish activity in Moderna (MRNA), with shares up $2.44, or 6.2%, near $41.80. Options volume roughly in line with average with 97k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.66. Implied volatility (IV30) is higher by 0.9 points near 66.47,and below the 52wk median, suggesting an expected daily move of $1.75. Put-call skew steepened, indicating increased demand for downside protection.