Why Is GeoVax Labs Stock Soaring Today?

GeoVax Labs Inc GOVX shares are trading higher Monday after the World Health Organization (WHO) declared monkeypox a public health emergency of global concern.

The rare designation is the highest alert level the WHO uses and shows that the organization believes a quick international response is necessary to stop the spread of the virus from escalating further. 

There have been 16,000 reported monkeypox cases from 75 countries and territories, and five deaths, according to a statement from WHO Director General Tedros Adhanom Ghebreyesus over the weekend.

"Although I am declaring a public health emergency of international concern, for the moment this is an outbreak that is concentrated among men who have sex with men, especially those with multiple sexual partners," the director general said.

"That means that this is an outbreak that can be stopped with the right strategies in the right groups."

Geovax Labs is a clinical-stage biotechnology company engaged in developing immunotherapies and vaccines against cancers and infectious diseases using a novel patented Modified Vaccinia Ankara-Virus Like Particle vector vaccine platform. The company has published information in peer-reviewed journals showing that its MVA vaccines help prevent monkeypox.

See Also: Why SIGA Technologies Stock Is Soaring Today

GOVX Price Action: GeoVax has traded between $4 and 55 cents over a 52-week period.

The stock was up 82.7% at $1.16 at press time, according to data from Benzinga Pro.

Photo: Ewa Urban from Pixabay.