Shares of Moderna (NASDAQ: MRNA) declined by 3.9% on Monday. The biotech company's vaccine patent portfolio is reportedly being probed by the U.S. Department of Defense for a lack of proper funding disclosures, according to the Financial Times.
The Defense Department investigation comes after a report by patient advocacy group Knowledge Ecology International, which claimed that Moderna failed to disclose the grants it received from the Defense Advanced Research Projects Agency (DARPA) in its patent applications -- including those of its coronavirus vaccine candidate -- as required by federal law.
The U.S. DoD is scanning Moderna's patent filings. Image source: Getty Images.
Source Fool.com