Moderna finally settled its four-year legal battle with Arbutus and Genevant over the LNP technology used in their vaccines. The stock jumped 16% on the news to around $58. The settlement involves a total payment of up to $2.5 billion. They are paying $950 million upfront, while the remaining $1.3 billion hangs on the result of an appeal. If Moderna wins the appeal regarding liability, they don't have to pay the second chunk. Even with the payout, they expect to end the year with between $4.5 billion and $5 billion in cash.