Vaccine stocks soar after the WHO sounds the alarm on monkeypox, buy now!
$SIGA Technologies Inc.(SIGA) , $Inovio Pharmaceuticals(INO)$ and other vaccine stocks were buoyed Monday after the World Health Organization declared the monkeypox outbreak a global health emergency, sounding the highest level of alarm as cases continue to rise globally.
director-general, said in a statement Saturday.
There are now more than 16,000 reported monkeypox cases from 75 countries and territories and five deaths, according to the WHO, which assess the risk of monkeypox as moderate in all regions except Europe, where the risk is high.
"There is also a clear risk of further international spread, although the risk of interference with international traffic remains low for the moment," Ghebreyesus noted. He added that monkeypox outbreak is concentrated among men who have sex with men, which means that the outbreak can be stopped with the right strategies in the right groups.
Nevertheless, the news that the WHO has stepped up its concerns over monkeypox has buoyed shares in companies that make vaccines.
$SIGA Technologies(SIGA.US)$ jumped 22% after the U.S. market opened on Monday. The company makes an antiviral called TPOXX that is approved in the European Union for use against monkeypox. The U.S. has stockpiled the drug even while it has yet to be approved.
$Emergent BioSolutions(EBS)$, the maker of a smallpox vaccine that could be used as a preventative for monkeypox, gained 3% in the market trading.
$Inovio Pharmaceuticals(INO.US)$ was another riser, up 1% in the market trading. While Inovio does not appear to have a monkeypox-relevant product for sale or under development, the company said in 2010 that an experimental vaccine against smallpox offered protection to nonhuman primates against monkeypox in a trial.
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