MRNA, SRPT, and KRYS Phase 3 Data Will Shape XBI's 2026 Performance

MRNA, SRPT, and KRYS Phase 3 Data Will Shape XBI's 2026 Performance

Quick Read SPDR S&P Biotech ETF (XBI) holds 150+ equal-weight positions and is up 46% over the past year, but faces near-term headwinds from FDA staffing cuts that could slow the regulatory approval pipeline that biotech valuations depend on. Moderna (MRNA) is the largest position at 2.3% weight and expects phase 3 norovirus and melanoma data in 2026 after rallying 82% year to date; Krystal Biotech (KRYS) posted $204 million in net income for 2…