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