Investor Alert

New York Markets Close in:

Market Pulse Archives

July 13, 2018, 3:34 p.m. EDT

SIGA Technologies shares rise 10% on approval of first-ever smallpox therapy

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    SIGA Technologies Inc. (SIGA)
  • X
    S&P 500 Index (SPX)
  • X
    Dow Jones Industrial Average (DJIA)

or Cancel Already have a watchlist? Log In

By Emma Court

SIGA Technologies Inc. /zigman2/quotes/201166334/composite SIGA -0.21% rose 9.6% in Friday afternoon trade on the Food and Drug Administration's approval of its TPOXX, the first-ever smallpox therapy. The contagious and often-deadly disease -- described as "one of the world's most devastating diseases known to humanity" by the World Health Organization -- has been considered eradicated since 1980 due to global immunization, but there have been fears that it could be used for bioterrorism, the FDA said. TPOXX was the first drug to receive a "Material Threat Medical Countermeasure priority review voucher," which comes with various incentives for the drugmaker; the drug also received other special designations intended to encourage development of important drugs. To establish the product's safety, it was tested in 359 healthy humans who did not have smallpox, while the efficacy findings that the approval was based on were in animals. These types of approvals are allowed under the FDA's Animal Rule, used in cases when "it is not feasible or ethical to conduct efficacy trials in humans," the FDA said. SIGA shares have surged 9.1% over the last three months, compared with a 5.5% rise in the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.98% and a 2.7% rise in the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.70% .

US : U.S.: Nasdaq
$ 7.29
-0.01 -0.21%
Volume: 356,752
Jan. 31, 2023 2:04p
P/E Ratio
Dividend Yield
Market Cap
$533.08 million
Rev. per Employee
+39.49 +0.98%
Volume: 0.00
Jan. 31, 2023 2:09p
US : Dow Jones Global
+236.12 +0.70%
Volume: 0.00
Jan. 31, 2023 2:09p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.