Moderna Inc. Faces Significant Premarket Drop

In a startling development, shares of Moderna Inc., a leading biotechnology company, experienced a sharp decline of over 13% during Monday's premarket trading. This dramatic drop followed the unexpected resignation of Peter Marks, the Food and Drug Administration's (FDA) top vaccine official.

Behind the Resignation

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 faced with a stark ultimatum: resign or face termination. Insights from a source close to the matter revealed to NBC News that the Trump administration played a pivotal role in forcing his departure.

Market Reaction

The repercussions were immediate, with Moderna's stock price plummeting to $26.76 per share by 7:36 am ET, marking a 13.56% decrease. This event underscores the volatile nature of the stock market and the significant impact of regulatory changes on pharmaceutical companies.