Moderna's Legal Win Fails to Boost Investor Confidence as Stock Dips 1.55% and Trading Volume Dips 23% to 469th Rank

On August 29, 2025, Moderna (MRNA) traded with a volume of $0.20 billion, a 23.32% decline from the previous day, ranking 469th in market activity. The stock closed down 1.55%, reflecting mixed sentiment amid ongoing legal battles.

The UK Court of Appeal upheld a High Court ruling that Moderna’s patent EP 3 590 949 is valid and infringed by BioNTech and Pfizer’s Comirnaty vaccine. This marks a significant legal victory for Moderna, confirming the lower court’s decision that its technology is protected. However, the ruling leaves room for further appeals, as BioNTech and Pfizer retain the option to challenge the decision in the UK Supreme Court. The companies argue the patent lacks validity, though the Supreme Court’s involvement remains uncertain due to its strict criteria for accepting cases.

Parallel proceedings at the European Patent Office (EPO) will shape the broader European outcome. The EPO’s Opposition Division upheld EP 949 but revoked another Moderna patent (EP 565), with appeals scheduled for 2026. Meanwhile, the Dutch court’s revocation of the Dutch portion of EP 949 could complicate Moderna’s regional enforcement strategy. Litigation in Germany and other jurisdictions remains unresolved, with potential rulings pending in late 2025 and 2026.

Moderna’s legal team, led by Freshfields, continues to pursue damages for post-March 2022 sales of Comirnaty. The company’s focus remains on validating its mRNA technology patents, which underpin its competitive position. Investors will closely monitor the EPO and UK Supreme Court decisions, as they could determine the financial and strategic implications of the ongoing dispute.

Backtest results indicate that Moderna’s stock reacted to the UK Court of Appeal ruling with a 1.55% decline, aligning with the reported performance. The volume contraction suggests reduced short-term liquidity, potentially reflecting investor caution ahead of upcoming legal milestones.