SIGA Technologies - Monkeypox likely here to stay

With approximately 64k global cases, monkeypox has become a growing concern and is less transient than initially acknowledged. We expect SIGA Technologies, the leading smallpox therapeutic manufacturer, to remain a beneficiary through the monkeypox epidemic. SIGA’s TPOXX therapy has a strong track record in treating smallpox, which is in the same orthopoxvirus family as monkeypox. The company’s planned submission and approval of post-exposure prophylaxis (PEP) remains a key catalyst and the use of TPOXX supports a refined approach to treating monkeypox. Reflecting what we believe are the most likely assumptions, we arrive at a valuation of $19.80/share, up from $9.17/share.