SIGA Technologies Continues to Rise as Biden Administration Calls Monkeypox a Public Health Emergency
SIGA Technologies (SIGA) jumped almost 20% today as the White House declares monkeypox a public health emergency.
Currently, SIGA makes the only medication that is allowed by the FDA to treat monkeypox, a viral disease characterized by fever symptoms as well as lesions or rash. SIGA’s drug Tpoxx has full approval in the U.S. for treatment.
Investors are flocking to SIGA due to their strong first-mover advantage, but there is a longer-term view as well.
“The real market for us in the long run is preparedness for orthopoxviruses,” he said. “There are strains of monkeypox that are much more deadly. Part of the ultimate messaging around this outbreak is governments need to prepare in advance and have these products stockpiled.”
ABOUT SIGA TECHNOLOGIES, INC. and TPOXX®
SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market), vaccines and therapies for emerging infectious diseases, and health preparedness. Our lead product is TPOXX®, also known as tecovirimat and ST-246®, an orally administered and IV formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. TPOXX is a novel small-molecule drug and the US maintains a supply of TPOXX under Project BioShield. The oral formulation of TPOXX was approved by the FDA for the treatment of smallpox in 2018, and the IV formulation was approved for the same indication in 2022. The full label is available by clicking here. Oral tecovirimat received approval from the European Medicines Agency (EMA) and the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom in 2022. The EMA and UK approvals include labeling for oral tecovirimat indicating its use for the treatment of smallpox, monkeypox, cowpox, and vaccinia complications following vaccination against smallpox. The full label is available by clicking here. In September 2018, SIGA signed a contract with the Biomedical Advanced Research and Development Authority (BARDA), part of the office of the Assistant Secretary for Preparedness and Response within the U.S. Department of Health and Human Services, for additional procurement and development related to both oral and intravenous formulations of TPOXX. For more information about SIGA, please visit www.siga.com.