Why Is COVID-19 Vaccine Maker Moderna Stock Trading Lower Today?

Moderna Inc MRNA shares slipped on Tuesday trading after the European Patent Office said a contested mRNA patent owned by Moderna is invalid, marking a victory for Pfizer Inc PFE / BioNTech SE BNTX in a patent dispute between the biggest coronavirus vaccine makers. 

Moderna Spokesperson Tells Benzinga 'Moderna disagrees with the decision of the European Patent Office regarding the ‘565 Patent. We continue to believe in the strength and validity of the ’565 Patent and will appeal this decision.'

In August 2022, Moderna filed patent infringement lawsuits against Pfizer and BioNTech in the U.S. and Germany.

Moderna said that Pfizer/BioNTech's COVID-19 vaccine infringes patents filed between 2010 and 2016 covering foundational mRNA technology, critical in creating Moderna's mRNA COVID-19 vaccine.

In its lawsuit, Moderna asked for an undisclosed amount of money damages from Pfizer COVID-19 vaccines sold.

Citing BioNTech, Reuters said the company welcomed the decision, calling the patent office's decision "an important one, as we believe that this and others of Moderna's patents do not meet the requirements for grant and should never have been granted."

In October, Biotech firm Promosome agreed to end the lawsuit, which accused Pfizer and BioNTech of patent infringement related to messenger RNA technology. 

Price Action: MRNA shares are down 2.12% at $77.29 on the last check Tuesday. 

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