Why Moderna Stock Is Plummeting Today
Shares of Moderna (NASDAQ: MRNA) are falling on Monday. The company's stock lost 7.9% as of 1:30 p.m. ET and was down as much as 13.9% earlier in the day. The steep decline comes as the S&P 500 and Nasdaq Composite lost 0.4% and 1.1%, respectively.The vaccine maker's shares tumbled following the resignation of a key U.S. Food and Drug Administration (FDA) official who oversaw vaccine approvals.Peter Marks, who led the FDA's Center for Biologics Evaluation and Research (CBER), resigned Friday. As the head of CBER, Marks was critical in the rapid approval of COVID-19 vaccines during the pandemic and, more recently, was heavily involved in the regulator's oversight of cutting-edge cell and gene therapies.Continue reading
Shares of Moderna (NASDAQ: MRNA) are falling on Monday. The company's stock lost 7.9% as of 1:30 p.m. ET and was down as much as 13.9% earlier in the day. The steep decline comes as the S&P 500 and Nasdaq Composite lost 0.4% and 1.1%, respectively.
The vaccine maker's shares tumbled following the resignation of a key U.S. Food and Drug Administration (FDA) official who oversaw vaccine approvals.
Peter Marks, who led the FDA's Center for Biologics Evaluation and Research (CBER), resigned Friday. As the head of CBER, Marks was critical in the rapid approval of COVID-19 vaccines during the pandemic and, more recently, was heavily involved in the regulator's oversight of cutting-edge cell and gene therapies.
