Moderna Inc. Faces Significant Premarket Drop

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

Behind the Scenes: A Forced Departure

According to a spokesperson from the Department of Health and Human Services, Marks, who was at the helm of the FDA's vaccine division, was given an ultimatum: resign or face termination. Sources close to the matter revealed to NBC News that the Trump administration was behind the push for his departure.

Market Reaction

The news sent Moderna's stock tumbling, with shares falling to $26.76 each by 7:36 am ET, marking a 13.56% decrease. This event underscores the volatile nature of the biotech sector and the significant impact of regulatory changes on market dynamics.