From Yahoo Finance: 2025-04-01 11:50:00

Shares of biotech and biopharma companies drop after FDA’s Peter Marks resigns. RBC Capital and BMO Capital express concern, stating the departure is negative for the industry. Analysts anticipate impact on various companies like Sarepta, Gilead, Moderna, and more. Stock prices plummet, with some slipping over 10%.

RBC Capital calls Marks’ resignation “not good” for biotech, highlighting risks of further attrition at the FDA. The firm expects uncertainty and weakness in biotech stocks. BMO Capital labels the departure as a “significant negative” for the sector, emphasizing the importance of FDA’s independence and scientific rigor. Several gene editing and therapy stocks may be affected.

In response to Marks’ resignation, biotech and biopharma stocks experience significant drops. Sarepta, Legend Biotech, Precision BioSciences, and others see decreases in share prices. Analysts predict continued volatility in the industry. The news first broke on TheFly, a source for real-time financial news. Stocks affected include Beam, Crispr, Prime Medicine, and more.

Read more: Biotech stocks slide as Marks resignation seen being negative for sector