Shares of SIGA Technologies (NASDAQ: SIGA) continued to gain during the early hours on Monday as monkeypox cases continued to rise around the world. The stock was up 33% at the time of writing. Just a few days ago the stock was trading around the $7 mark, and has more than doubled since.
Why? They make treatments for monkeypox.
What treatments are available against monkeypox?
There isn’t a specific treatment for monkeypox. The smallpox virus belongs to the orthopoxvirus family and shares significant similarities with an old enemy of humankind: smallpox. Luckily, compared to smallpox, monkeypox is less deadly—between 1% and 3% of patients die from it, compared to smallpox’s 30% mortality.
The latest drugs approved by the Food and Drugs Administration (FDA) to treat smallpox are Tpoxx, made by Siga Technologies, and Tembexa (generic name: brincidofovir), which Emergent Biosolutions just acquired from its developer Chimerix for $325 million. Both drugs are antivirals, taken orally or as an injection. There is also a smallpox vaccine, made by Bavarian Nordic, and another by Tonix Pharmaceutical in the pipeline.