GeoVax, SIGA Jump After WHO Extends Mpox Public Emergency Status: Here’s What Retail Thinks

By Stocktwits Inc | First Published Nov 23, 2024, 1:45 AM IST

Emergent Biosolutions and Chimerix also saw marginal gains after the announcement.

Shares of GeoVax Labs Inc. ($GOVX), SIGA Technologies Inc. ($SIGA), and Emergent Biosolutions Inc. ($EBS) gained in mid-day trading on Friday after the World Health Organisation (WHO) reaffirmed that the ongoing upsurge of mpox remains a public health emergency of international concern (PHEIC).

Mpox, formerly called monkeypox, is a disease similar to smallpox caused by a virus.

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“The decision was based on the rising number and continuing geographic spread of cases, operational challenges in the field, and the need to mount and sustain a cohesive response across countries and partners,” the apex health agency said in a post on X (formerly Twitter).

The WHO first declared mpox a PHEIC in August earlier this year because a new strain of the virus, Clade Ib, had spread to countries that had not previously reported any incidences of the disease, like Thailand and Sweden.

Shares of GeoVax, currently working on a vaccine for mpox and smallpox, were up nearly 10% in mid-day trading on Friday. The stock has lost 47% of its value this year so far.

Meanwhile, shares of SIGA Technologies Inc. ($SIGA), developing an investigational drug for treating mpox called tecovirimat (TPOXX), jumped 2.5% after the news.

Retail sentiment around the stock improved to ‘bullish’ (60/100) from ‘neutral’ a day ago.

SIGA Technologies’ shares have gained 11% this year so far.

There was less movement around Emergent Biosolutions Inc. ($EBS), also working on a vaccine for mpox, which saw a marginal uptick of 0.6% in mid-day trading on Friday.

Retail sentiment around the stock remained in the ‘neutral’ zone with no significant change in chatter.

Emergent Biosolutions’ vaccine, approved for smallpox, has also been used as a mpox shot, but the U.S. Food and Drug Administration is yet to approve its application for use against the virus.

In 2022, the company acquired the rights to a smallpox treatment called Tembexa, which was developed by Chimerix Inc. ($CMRX), for up to $337.5 million plus royalties.

Chimerix was up around 0.6% as well during mid-day trading.

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