Mpox Vaccine Stocks Rally For Second Week, Geo Vax Shares Zoom 47%

Shares of leading mpox vaccine and drug developers witnessed significant rally on Monday. These stocks also recorded jump last week amid soaring worries over an outbreak of the surge in virus.

GeoVax Labs and Tonix Pharmaceuticals shares led the rally, according to a report published in Reuters. GeoVax Labs and Tonix Pharmaceuticals, both with combined market capitalisation of less than $50 million, yet to have any products on the market. GeoVax Labs shares registered rally of 47.9% to trade at $10.44. On the other hand, Tonix Pharmaceuticals shares gained 41% to 63 cents.

Meanwhile, Emergent BioSolutions shares jumped 5.4% to $11.32 in pre-market trade on Monday. Its vaccine, obtained approval for smallpox, has been used as an mpox shot. However, US Food and Drug Administration has not yet given nod to its application for use against mpox virus.

It is worth noting that latest variant of mpox already spread rapidly in Africa leading the World Health Organisation (WHO) to declare mpox a global public health emergency on Wednesday.

Earlier, Europe's disease prevention agency on Friday said more imported cases will surface in the region after Sweden announced its maiden case of mpox linked to the new strain, added the Reuters report.

On the other hand, Danish listed shares of Bavarian Nordic, engaged in manufacturing mpox vaccine, declined nearly 4% to 271.80 Danish crowns ($40.22). Earlier, they witnessed surge of 20% in Friday's trade and gained 50% last week amid soaring concerns over the virus all across the globe.

Earlier, the Union Health Ministry in India sounded an alert at all international airports and ports, asking authorities to closely monitor passengers entering the country from Pakistan and Bangladesh for symptoms of Mpox, according to a PTI report.

India has not yet detected any cases of Mpox as of now, as per officials' claim. But, the government is taking proactive steps to prepare for potential cases.