Moderna Inc. Faces Stock Plunge After Key FDA Departure

In a startling development, Moderna Inc. witnessed a sharp decline in its stock value, dropping over 13% during Monday's premarket trading. This dramatic fall comes in the wake of the resignation of Peter Marks, the Food and Drug Administration's (FDA) leading vaccine official.

Behind the Scenes: The Resignation of Peter Marks

According to a spokesperson from the Department of Health and Human Services, Marks, who was at the helm of the FDA's vaccine division, faced an ultimatum: resign or face termination. Sources close to the matter revealed to NBC News that the decision was influenced by pressures from the Trump administration, marking a controversial exit for the esteemed official.

Market Reaction to the News

The immediate aftermath saw Moderna's stock plummeting to $26.76 per share by 7:36 am ET, reflecting a 13.56% drop. This incident has sparked widespread speculation about the potential implications for the biotechnology sector and vaccine development moving forward.