Wells says Axonics’ position ‘meaningfully improved’ with IPRs sent back to PTAB

Wells Fargo notes that the Federal Circuit court ordered the Patent Trial and Appeal Board, or PTAB, to reconsider two IPR petitions that had been brought by Axonics (AXNX) against patents held by Medtronic (MDT). The firm, which says its patent consultant views this as a positive update for Axonics and thinks the company’s position is “meaningfully improved,” has an Overweight rating on Axonics shares.