Arbutus Biopharma shares surge 26.21% after-hours on $2.25B Moderna settlement with $950M upfront and $1.3B contingent payment.

Arbutus Biopharma surged 26.21% in after-hours trading following the announcement of a $2.25 billion global settlement with Moderna, resolving patent-infringement litigation over LNP delivery technology used in its COVID-19 vaccines. The agreement includes a $950 million upfront payment in July 2026 and an additional $1.3 billion contingent on a favorable appellate ruling regarding Section 1498. The settlement validates Arbutus’ intellectual property, grants Moderna a non-exclusive license to its LNP technology for infectious disease vaccines, and enables a potential return of capital to shareholders. The resolution of long-standing litigation and immediate financial proceeds, coupled with recognition of Arbutus’ foundational role in mRNA vaccine development, drove the sharp post-announcement rally.