The company, which is dedicated to the research and development of therapeutic products and vaccines, has reached an agreement with the two parties. It has agreed to make a one-time payment of $950m in Q3, with no future royalties. The agreement ends all litigation worldwide.

Moderna will, however, appeal to the Federal Court to argue that its immunity as a "government contractor" limits its liability under a federal statute. If the company prevails on that point, no additional payment will be due. If, on the other hand, the Federal Court upholds its liability, Moderna has agreed to make an additional payment of up to $1.3bn within 90 days of the decision. Finally, if Moderna ultimately prevails in subsequent proceedings (before the Supreme Court or otherwise), Arbutus and Genevant will refund the full payment, plus interest.

As a result, the company expects to record a $950m charge in Q1 2026 and, following the settlement, it expects to end 2026 with cash and cash equivalent of between $4.5bn and $5bn.

The dispute concerns patents related to lipid nanoparticle technology essential for the delivery of messenger RNA vaccines.