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Stock impact report

Biotech stocks tumble on reports FDA's top vaccine regulator to leave [Yahoo! Finance]

Taysha Gene Therapies, Inc. (TSHA) 
Company Research Source: Yahoo! Finance
Food and Drug Administration had resigned, fanning worries over slower reviews for breakthrough treatments. Peter Marks, who played a key role in U.S. President Donald Trump's first term in developing COVID-19 vaccines, will leave effective April 5, the Wall Street Journal and other media outlets reported on Friday. As director of the FDA's Center for Biologics Evaluation and Research, Marks has publicly supported programs that expedited the development of rare disease treatments and gene therapies during his tenure. Shares of gene therapy makers including Taysha Gene Therapies, Solid Biosciences and Sarepta Therapeutics were down between 4% and 10% in premarket trading. The resignation "could put some pressure on companies whose drugs are currently, or planned to be, under review by (the FDA)," said Truist Research analyst Joon Lee in a research note. The three companies are all developing gene therapies to treat rare conditions. Shares of vaccine maker Moderna also fell 2. Show less Read more
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