Why Emergent BioSolutions Stock Is Jumping This Week
Shares of Emergent BioSolutions (NYSE: EBS) were jumping 14.6% this week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. The stock's momentum began after the World Health Organization (WHO) director-general declared the global monkeypox outbreak as a Public Health Emergency of International Concern (PHEIC) on July 23.
Emergent BioSolutions markets smallpox vaccine ACAM2000, which can also be used to provide protection against infection by the virus that causes monkeypox. In addition, the company announced in May that it plans to acquire Chimerix (NASDAQ: CMRX), the maker of smallpox antiviral therapy Tembexa. The drug can also be used to treat monkeypox.
So far, more than 18,000 monkeypox cases have been reported in 78 countries. Roughly 10% of cases have required patients to be admitted to hospitals. Governments around the world have taken steps to prevent the spread of the virus.
Source Fool.com
