Siga Technologies Stock Adds Most New Retail Watchers After WHO Declares Mpox Health Emergency

Siga Technologies (SIGA), a pharmaceutical company specializing in treatments for smallpox and related diseases, saw its stock surge nearly 27% on Wednesday as the World Health Organization (WHO) declared Mpox a public health emergency of international concern, leading to a spike in retail investor interest.

Following the WHO announcement, SIGA became the stock that added the most new watchers on Stocktwits in the last 24 hours. Retail investor sentiment turned ‘extremely bullish’ with a score of 95 out of 100, while message volume peaked at its highest level this year (97/100).

The rise in Mpox cases in Africa prompted the WHO's declaration, sparking renewed interest in pharmaceutical stocks linked to the disease. SIGA is particularly well-positioned as its antiviral drug, TPOXX (tecovirimat), has been used to treat Mpox, especially in severe cases.

Last month, the company's stock received a boost after the U.S. Department of Health and Human Services exercised a $113 million contract option for oral TPOXX treatments.

Adding to the optimism, SIGA reported strong Q2 financial results earlier this month, swinging to a profit with revenue surging from $5.88 million to $21.81 million.

GeoVax Labs (GOVX), another pharmaceutical company, saw its stock price rise 30% on Wednesday following the WHO announcement.

In December 2023, GOVX expanded its commercial license to include Mpox and smallpox through an agreement with the National Institute of Allergy and Infectious Diseases. This ticker is also garnering a lot of retail attention on the WHO’s announcement.