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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