Moderna Stock Falls as FDA Vaccine Chief Resigns, Citing RFK Jr.’s ‘Misinformation’
Key Takeaways
- Moderna and other vaccine stocks fell Monday after the Food and Drug Administration’s vaccine chief, Peter Marks, announced his resignation.
- Marks, who helped oversee the development of COVID-19 vaccines, said he would leave his role by the end of this week, citing conflicts with Health and Human Services Secretary Robert F. Kennedy Jr.
- Novavax, BioNTech, and Pfizer shares also lost ground in intraday trading Monday.
Shares of Moderna (MRNA) and other vaccine developers dropped Monday after the Food and Drug Administration’s vaccine chief, Peter Marks, said he would resign, citing conflicts with Health and Human Services Secretary Robert F. Kennedy Jr.
Marks, who oversaw the approval of COVID-19 vaccines as the head of the FDA’s Center for Biologics Evaluation and Research, said Friday he would leave his role at the end of this week. The decision comes after Marks was given a choice to resign or be fired, according to a report from the The Wall Street Journal.
“I was willing to work to address the Secretary’s concerns regarding vaccine safety and transparency,” Marks said in his resignation letter, obtained by the WSJ. “However, it has become clear that truth and transparency are not desired by the Secretary, but rather he wishes subservient confirmation of his misinformation and lies.”
The FDA and HHS did not respond to a request for comment.
Shares of Moderna, which developed a COVID-19 vaccine, fell more than 8% intraday Monday, making it the worst-performing stock on the S&P 500 amid a broad-based decline. Novavax (NVAX), BioNTech (BNTX), and Pfizer (PFE) shares also lost ground.
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