Why is SIGA Technologies stock soaring on Monday?

al infection that was common in West Africa but has now been identified globally. Initial cases are relatively small, but the wide geographical spread means that the number of cases is likely to grow. Monkeypox has been likened to chickenpox or smallpox, and it is for this reason that SIGA shares have been in demand. SIGA Technologies makes a smallpox treatment. Smallpox treatments will be effective for the treatment of monkeypox, according to experts, as monkeypox is in the same viral family.

The US has already confirmed at least one case of the virus with Europe reporting several. The disease is native to West Africa. Last week the US FDA approved the intravenous use of SIGA's TPoxx treatment as an addition to the already approved use as an oral solution to smallpox. SIGA stock also gained last week as the US Department of Defense awarded SIGA a $7.5 million contract for the supply of oral TPOXX.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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