Home » Economy » Modena’s patent war swallowed the defeat and fell nearly 12%. Snowflake revenue doubled and rose 14% | Anue Juheng-US stocks

Modena’s patent war swallowed the defeat and fell nearly 12%. Snowflake revenue doubled and rose 14% | Anue Juheng-US stocks

Modena vaccine patent appeal failed, plummeted 11.87%

The Federal Court of Appeals dismissed Modena on Wednesday (1st) (MRNA-US) Modena may face an infringement lawsuit against the patent challenge raised by the Canadian pharmaceutical company Arbutus Biopharma. The stock price plummeted by 11.87% to 310.61 per share that day. Dollar, The market fell nearly 1% afterwards.

After the ruling was announced, the Canadian pharmaceutical company Arbutus Biopharma (ABUS-US) The stock price soared 44.06% to 4.61 per share Dollar

The judge held that Arbutus Biopharma accused Modena of using its patented technology for the development of a new crown vaccine, and the related litigation was established and ruled that Modena’s appeal to challenge the Patent Board’s ruling was unsuccessful.

The patent claimed by Arbutus Biopharma involves lipid nanoparticle (LNP) technology, which is very important in the development of m-RNA vaccines against the new coronavirus.

Jefferies analyst Dennis Ding said that Arbutus Biopharma may file an infringement lawsuit and demand that Modena pay patent fees to reach a settlement. The lawsuit may last for several years.

Snowflake’s third-quarter revenue growth doubles and soars by 14.37%

Cloud computing company Snowflake (SNOW-US) It was announced on Wednesday after the market that the third-quarter revenue of the 2022 fiscal year more than doubled and was better than market expectations, and a strong fourth-quarter financial forecast was released, encouraging the stock price to rise 14.37% to 355.70 per share after the market. Dollar, To reverse the closing trend.

Snowflake’s third quarter (as of 10/31) revenue increased by 110% annually to 334.4 millionDollar, Of which product revenue accounted for 315.2 millionDollar.The third quarter net loss was 154.9 millionDollar, The loss per share is 0.51 Dollar, Compared with 168.9 million in the same period last yearDollarOr a loss per share of 1.01 DollarNarrowed down.

FactSet survey analysts estimate the company’s third-quarter revenue on average to 306 millionDollar, Of which product revenue accounted for 284 millionDollar, A loss per share of 0.06 Dollar

Snowflake estimates that product revenue in the fourth quarter will range from 345 million to 350 millionDollar, Better than analysts’ average estimate of 316 millionDollar, In addition, the company also raised its full-year revenue to 1.13 billionDollar, Previously estimated to be between 1.06 billion and 1.07 billionDollarbetween.

Truist Securities analysts said that as data plays an increasingly important role in all companies, Snowflake has an irreplaceable position in the IT field, which will help the company continue to grow and improve visibility.

Truist Securities currently maintains its “Buy” rating on Snowflake, with a target price of 350 per share Dollar, And said that it may update the calculation model after the company announces its third-quarter earnings on Wednesday.

Square changed its name to “Block” to focus on blockchain development, up 0.51%

Online payment company Square (SQ-US) On Wednesday, it was announced that the name was changed to “Block”, which means to focus on the development of blockchain technology and expand the original business. After the market, the stock price rose 0.51% to 195.49 per share. Dollar, To stop the closing downtrend.

Block stated that the new name will take effect on December 10, and the code name will remain “SQ”. The new name confirms the company’s growth and creates development space for further growth.

Block co-founder and CEO Jack Dorsey said that the Square brand was established for sellers at the beginning, and this is also the company’s ownership. No matter how the company name changes, the organizational structure will not change, and its different business units will continue to be maintained. Respective brands.

As part of Square’s name change plan, the company’s promotionBitcoinThe independent development department “Square Crypto” will also be renamed “Spiral”.

Dorsey has been on Twitter since 2015 (TWTR-US) As the CEO of Square, he resigned as CEO of Twitter recently and said that “Twitter is ready to get rid of the influence of the founder”, and he is expected to be more focused in the futureCryptocurrencyField development.

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