Vaxcyte(PCVX) Shares Plunge 7.11% Amid FDA Regulator Resignation

Vaxcyte(PCVX) shares plummeted 7.11% today, marking the lowest level since October 2022, with an intraday decline of 12.46%.

Vaxcyte's stock price has been under significant pressure recently, largely due to the resignation of Peter Marks, the FDA's top regulator for vaccines. Marks cited difficulties in his role as the reason for his departure, which has contributed to the volatility and decline in Vaxcyte's stock price. This event has had a notable impact on investor sentiment, leading to a 54% drop in the company's shares last week.

While there was a brief 4.1% increase on Friday, no specific reasons related to recent events or news were provided to explain this temporary uptick. The overall trend, however, remains negative, with the resignation of the FDA regulator being the primary factor influencing Vaxcyte's stock performance.