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Good morning and happy Friday. Elizabeth Cooney here, thinking of the vacationing Ed Silverman’s weekly signal to daydream about weekend plans. I’m sure that whatever you do, Ed would say you should wear a mask. Now onto the news:

Moderna (MRNA), racing to develop a vaccine for Covid-19, has lost a key patent decision, one that could delay the company’s progress or force it to hand over a cut of profits, STAT reports. The U.S. Patent and Trademark Office denied Moderna’s claim that a patent held by a rival company was invalid. The patent, which covers technology used to deliver messenger RNA treatments, is held by the Canadian firm Arbutus.

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