Moderna Inc. Faces Significant Premarket Drop

In a startling development, shares of Moderna Inc. experienced a sharp decline, dropping over 13% during Monday's premarket trading. This significant downturn follows the resignation of Peter Marks, the Food and Drug Administration's (FDA) leading vaccine official.

Behind the Scenes: A Forced Resignation

Reports reveal that Marks was confronted with an ultimatum: resign or face termination. A source close to the situation disclosed to NBC News that the Trump administration was behind the push for his departure, marking a controversial end to his tenure.

Market Reaction

The immediate impact on Moderna's stock was palpable, with prices falling to $26.76 per share by 7:36 am ET, reflecting a 13.56% decrease. This event underscores the volatile nature of biotech stocks in response to regulatory changes.