Shares of Emergent BioSolutions (NYSE: EBS) were skyrocketing 19.5% higher as of 11:09 a.m. ET on Friday after rising as much as 34.1% earlier in the day. The big gain came after the European Centre for Disease Prevention and Control raised its risk level for mpox to "moderate" from "low." The decision followed the confirmation of a case of mpox infection in Sweden.

On Wednesday, the World Health Organization declared a global public health emergency after an outbreak of mpox in Africa. The first cases were reported in the Democratic Republic of Congo, but the virus quickly spread to other African countries.

The only approved vaccine for preventing mpox is made by Bavarian Nordic. However, the U.S. Centers for Disease Control and Prevention (CDC) has also recommended Emergent BioSolutions' ACAM2000 vaccine for preventing mpox.

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Source Fool.com