GeoVax, SIGA Technologies Shares Soar After WHO Declares Mpox A Global Health Emergency

GeoVax Labs inc. (NASDAQ:GOVX) and SIGA Technologies Inc. (NASDAQ:SIGA) shares are surging Wednesday amid Mpox Emergency Declaration. Here’s what you need to know.

What Happened: The surge comes in response to reports that the World Health Organization (WHO) Director General has declared Mpox a public health emergency of international concern, which has heightened global focus on the disease.

Why It Matters:

• GeoVax Labs: GeoVax is a biotech company that focuses on developing vaccines for infectious diseases, including Mpox. The company has been involved in Mpox vaccine research and the WHO's emergency declaration has likely boosted investor confidence in the potential demand for its vaccine candidates.
• SIGA Technologies: SIGA Technologies specializes in developing countermeasures to treat smallpox and related diseases, including Mpox. Its antiviral drug, TPOXX (tecovirimat), has been used to treat Mpox, especially in severe cases. The increased focus on Mpox due to the WHO’s declaration has likely driven up investor interest in SIGA’s stock as demand for treatments like TPOXX could rise.

Recap of Recent Developments: The Mpox outbreak in the Democratic Republic of Congo and neighboring countries has escalated, leading the Africa Centres for Disease Control and Prevention (Africa CDC) to declare a public health emergency of continental security. This move marks the first time Africa CDC has declared such an emergency, emphasizing the severity of the outbreak. More than 15,000 Mpox cases and 461 deaths have been reported in Africa this year, with a significant increase in cases compared to last year according to Reuters.

The WHO is also convening an emergency committee to determine if the outbreak represents a global public health emergency. The situation has highlighted the urgent need for vaccines and treatments, though significant challenges remain, including limited vaccine supply and competing health crises.

Price Action (at publication Wednesday):

• GOVX: GeoVax Labs’ shares were up by 30%, trading at $3.25.
• SIGA: SIGA Technologies’ shares saw an even greater increase, up by 27.04%, trading at $11.98.

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