SIGA stock surges premarket on FDA approval for intravenous version of smallpox drug

May 19, 2022 9:07 AM ETSIGA Technologies, Inc. (SIGA)By: Anuron Mitra, SA News Editor

Financial stock market graph. Selective focus.

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  • Shares of SIGA Technologies (NASDAQ:SIGA) jumped 21.7% to $8.99 in Thursday premarket trading, after the company got U.S. Food and Drug Administration (FDA) approval for the intravenous (IV) formulation of its TPOXX treatment for smallpox.
  • "The IV formulation is an important option for those who are unable to swallow the oral capsules of TPOXX," SIGA said in a statement.
  • SIGA's oral formulation of TPOXX is approved in the U.S., Canada and Europe for the treatment of smallpox.
  • Last week, SIGA bagged a U.S. Department of Defense contract to supply up to ~$7.5M of oral TPOXX.
  • Up to Wednesday's close, SIGA stock -1.7% YTD.

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