ABUS - Arbutus gains after court denies Moderna motion to dismiss Covid-19 royalties case

• Arbutus Biopharma ( NASDAQ: ABUS ) rose 8.1% after a judge denied a Moderna ( NASDAQ: MRNA ) motion to dismiss a lawsuit from from Arbutus seeking damages related to patent's for the Covid-19 vaccine.
• Judge Mitchell Goldberg's denial was in a court filing viewed by Seeking Alpha.
• Moderna ( MRNA ) filed a motion to dismiss the lawsuit in May. Arbutus and RNA therapeutics company Genevant Sciences filed the case in February. Moderna sought to dismiss the claims because Genevant and Arbutus ( ABUS ) "sued the wrong party in the wrong court.”
• The latest court action comes after a federal appeals court in December upheld a ruling by the U.S. Patent and Trademark Office to not invalidate patents held by Arbutus. Arbutus ( ABUS ) shares spiked 44% on the news on Dec. 1. The court ruled that Moderna had no standing to appeal.
• Check out additional background about the Arbutus patents .
• Arbutus ( ABUS ) is scheduled to release Q3 results next Wednesday.

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