Why Emergent BioSciences Stock Is Soaring Today

Shares of Emergent BioSolutions (NYSE: EBS) were soaring by 12.1% as of 10:34 a.m. ET on Thursday. The big gain came as concerns increased about a monkeypox outbreak in Europe. Monkeypox cases are also being investigated in the U.S. and Canada.

Emergent BioSolutions makes ACAM2000, a vaccine for smallpox that can be used in people exposed to monkeypox in some cases. The monkeypox virus is closely related to the variola virus that causes smallpox. Also, the company announced on Monday that it had entered into a definitive agreement to acquire exclusive global rights to Chimerix's Tembexa antiviral therapy for smallpox.

It remains to be seen just how much the monkeypox outbreak will benefit Emergent financially. There are other companies that market smallpox vaccines that could offer protection against monkeypox. And Bavarian Nordic's Jynneos vaccine has been specifically approved for immunization against monkeypox.

Source Fool.com