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Moderna surges after hours on patent settlement with Arbutus and Genevant (MRNA:NASDAQ)
Moderna’s stock surged approximately 10% in after-hours trading following the announcement of a patent litigation settlement with Arbutus Biopharma and Genevant Sciences. Moderna will pay $950 million in Q3, incurring the charge in Q1, and will not owe any future royalties.