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.

Competitors Emergent Biosolutions and  Tonix Pharmaceuticals also saw massive gains. These companies provide solutions for biodefence in an event of biological attack.

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.

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