SIGA Technologies Stock News: SIGA rallies on WHO monkeypox declaration

SIGA stock is up 26% in Monday's premarket.
WHO declares Monkeypox a public health emergency of global concern.
SIGA stock rallying as the company has a monkeypox treatment.

Ivan Brian FXStreet

SIGA stock is up again as monkeypox treatment stocks continue to see renewed interest as the monkeypox outbreak shows no signs of abating. SIGA stock advanced 43% in May as monkeypox concerns grew, and SIGA has remained elevated ever since.

SIGA stock news

The reason for Monday's premarket gain is because the World Health Organisation (WHO) has declared monkeypox a health emergency of global concern. SIGA Technologies has a treatment for smallpox named TPOXX, which was approved for use in the US by the FDA in 2018. In January the European equivalent gave TPOXX authorization for monkeypox. SIGA Technologies said two weeks ago it had received orders totaling $56 million so far this year for TPOXX. Now with this latest declaration from the WHO, monkeypox stocks are once again rising, and SIGA stock is set to gain.

“We have an outbreak that has spread around the world rapidly through new modes of transmission, about which we understand too little, and which meets the criteria” for a public health emergency, the Director-General of the WHO, Tedros Adhanom, said.

Other stocks of note to watch in the same space are Tonix Pharma (TNXP), GeoVax Labs (GOVX) and Emergent Bio (EBS).

SIGA daily chart

Also read: Polestar (PSNY) stock falls sharply as news flow dries up

Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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