Arbutus Biopharma Falls Most Since 2020, Loses Patent Appeal (1)

(Updates stock move, adds peer.)

Arbutus Biopharma shares sink as much as 22%, the most intraday since 2020, after the European Patent Office appeals board revoked one of its patents, which is likely to affect its case against Moderna in Switzerland and one Unified Patent Court case.

• Moderna shares gain 3.6%

ADDITIONAL DETAILS

• EPO’s Board of Appeal revoked European patent EP 2279254 following oppositions filed by affiliates of Moderna and Merck
• Arbutus intends to seek review by EPO’s Enlarged Board of Appeal
• Ruling is based on “added matter” standard that doesn’t apply in US and doesn’t expect it to affect litigation ...