By Connor Hart
Shares of SIGA Technologies Inc. rose more than 12% after the company on Friday posted increased profit and revenue in its second quarter, driven by monkeypox-fueled pharmaceutical demand.
The company's most recent quarterly earnings were bolstered by sales for an antiviral medication used to treat orthopoxviruses such as smallpox and monkeypox.
The New York-based pharmaceutical company said net income rose to $2 million, or 3 cents a share, from $169,000, or flat on a per-share basis, in the previous year.
Sales for the quarter ended June 30 grew to $16.7 million, up from $8.7 million in the year-ago quarter.
Shares of the company closed Thursday at $19.47 before hitting a 52-week high of $23.03 on Friday. The company's share price has nearly tripled so far this year and is up more than 250% in the last 52 weeks.
Write to Connor Hart at firstname.lastname@example.org
$(END)$ Dow Jones Newswires
August 05, 2022 11:49 ET (15:49 GMT)
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