Siga Technologies Shares Climb 22% on Smallpox-Treatment Order

Dow Jones2023-07-28

By Denny Jacob

Siga Technologies shares climbed 22%, to $6.20, in aftermarket trading following news that the U.S. Department of Health and Human Services exercised procurement options for certain treatment courses.

The stock, which closed up 1.2%, to $5.09, is down 31% on the year.

The commercial-stage pharmaceutical company said the agency exercised options for the delivery of about $113 million worth of oral TPOXX treatment courses and about $25 million worth of IV TPOXX treatment courses.

Tecovirimat, also known as TPOXX, is FDA-approved for the treatment of human smallpox disease caused by variola virus in adults and children, according to the Centers for Disease Control and Prevention.

Siga said it expects to fully deliver the oral treatment in 2023 and deliver the IV treatment in 2024.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

July 27, 2023 17:31 ET (21:31 GMT)

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