Morgan Brennan 2.9 1 idea

News intro mentions Moderna settled litigation with two smaller biotechs for $950 million but will *not* pay future royalties. Shares were up ~10% on the news. The settlement removes a legal overhang and the lack of future royalties preserves long-term margins. Watch for continuation of the momentum as legal uncertainty clears. Declining demand for mRNA vaccines post-COVID; pipeline execution risks.