- SIGA Technologies (NASDAQ:SIGA) stock is sparking investor interest due to its anti-smallpox drug
- Smallpox is closely related to monkeypox
- Dozens of monkeypox cases have been located in at least 12 countries
SIGA Technologies (NASDAQ:SIGA) stock is in focus again today after President Joe Biden expressed concern over the weekend about a virus called monkeypox, which is closely related to smallpox. SIGA Technologies has developed a drug, Tpoxx, which has approval in the United States, Canada and Europe for the treatment of smallpox. In Europe, regulators have also approved the drug as a treatment for monkeypox.
Yesterday Biden said that “everybody should be concerned” about monkeypox. However, today he noted that smallpox vaccines can be used to prevent the illness, while the U.S. government has sufficient smallpox shots to cope with the issue.
SIGA Stock Dips Despite Investor Interest
Officials have already confirmed two cases of monkeypox in the United States, and Florida officials have located a “presumptive” case in the state. Globally, as of Saturday, “over 80 cases of monkeypox have been confirmed in at least 12 countries,” the World Health Organization reported.
In mid-morning trading, SIGA stock fell 4% to $11.90. However, over 49 million shares of the name had changed hands already today, versus the stock’s average daily volume of slightly over 2 million. And the shares have soared 60% in the past five days, nearly 72% in the past month, and 95% in the last three months.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.