Shares of pharmaceutical company SIGA Technologies (NASDAQ:SIGA) are up nearly 30% at the time of writing today after it bagged procurement orders worth $138 million from the U.S. Department of Health and Human Services.
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The orders include oral TPOXX treatment courses for ~$113 million and IV TPOXX treatment courses for ~$25 million. The crucial win for the company comes as global awareness about orthopoxvirus preparedness rises. Last year, SIGA bagged TPOXX orders from 13 international customers as well as from the U.S. Department of Defense.
The company expects to make the full delivery of the oral TPOXX order this year itself and anticipates beginning the delivery of the IV TPOXX order next year.
Today’s price gains come after a nearly 75.3% price erosion in SIGA shares over the past year. Short interest in the stock is now hovering at about 12.5%.
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