Shares of Moderna MRNA rose nearly 16% yesterday after a couple of SEC filings showed that two board members bought shares on the open market. It also secured a legal victory in a patent dispute against Pfizer PFE and BioNTech BNTX.

MRNA Insiders Buy Shares Worth $6M

In a couple of regulatory filings with the SEC, it was revealed that Moderna’s CEO Stephane Bancel and director Paul Sagan acquired common stock worth $6 million.

On Monday, Bancel acquired 160,314 shares worth $5 million through a firm, named Boston Biotech Ventures, LLC, which was controlled by him. The same day, board member Sagan acquired 31,620 shares, valuing the stock at around $1 million.

MRNA Stock Performance

Year to date, Moderna’s shares have lost more than 15% against the industry’s 6% growth.

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Moderna Scores Legal Win in Patent Dispute

Yesterday, a German court ruled that Pfizer and BioNTech infringed Moderna's COVID-19 vaccine patent. The ruling required both PFE and BNTX to compensate the company, though the final amount will be determined in further proceedings.

The dispute centered around Moderna’s patent, which Pfizer and BioNTech used in their COVID-19 vaccine. While PFE and BNTX did not deny using the patent, they argued that a press release issued by Moderna in 2020 allowed its use during the pandemic, making their actions legal until May 2023, when the World Health Organization declared that the pandemic was over.

However, the court rejected this defense, ruling that Moderna had formally revoked its permission in March 2022. This meant that Pfizer and BioNTech’s continued use of the patent beyond that date was unauthorized, entitling Moderna to compensation. However, PFE and BNTX may appeal this ruling to a higher court.

Some investors pointed out that the above decision marks a major development in pharmaceutical intellectual property rights, with industry players and investors closely monitoring the next steps pertaining to the case.

Moderna, Inc. Price

Moderna, Inc. price | Moderna, Inc. Quote

MRNA’s Zacks Rank

Moderna currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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