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

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

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.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.