Monkeypox plays are lower as WHO rules out emergency status

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  • The companies focused on solutions to contain the monkeypox virus are trading sharply lower in the pre-market Monday after the World Health Organization (WHO) said that the current outbreak did not amount to a global public health emergency.
  • The designation, specifically known as a Public Health Emergency of International Concern (PHEIC), is WHO’s highest level of warning previously issued for COVID-19 pandemic and Ebola.
  • After a meeting of its Emergency Committee on Thursday, the WHO announced that the outbreak at this stage should not be classified as a PHEIC.
  • However, the experts noted the need for close monitoring and review to see if there are significant changes that would warrant a reconsideration of their advice.
  • In reaction, the developers of monkeypox therapeutics such as GeoVax Labs (GOVX), SIGA Technologies (NASDAQ:SIGA) and Tonix Pharmaceuticals (TNXP) have dropped sharply in the early trading.
  • Vaccine developers for monkeypox, Bavarian Nordic (OTCPK:BVNKF) (OTCPK:BVNRY), Emergent BioSolutions (EBS), Chimerix (CMRX) are also among notable decliners along with test developer, Co-Diagnostics (CODX).
  • Driven by demand for their monkeypox vaccines and therapeutics, SIGA (SIGA), Bavarian Nordic (OTCPK:BVNKF) and Chimerix (CMRX) outperformed the market over the past month, as shown in this graph.

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