Why Emergent Biosolutions Stock Is Rising Today

Emergent Biosolutions Inc EBS shares are trading higher Monday amid increasing monkeypox concerns. 

A monkeypox outbreak has been reported in at least a dozen countries. There has been one confirmed case in the United States and at least one other case is suspected.

President Biden on Sunday warned that the spread of monkeypox to at least 12 countries is something that people should be concerned about. The United States is looking into which vaccines might be available to protect people from further spread.

Last week, Emergent Biosolutions announced that it entered into a definitive agreement with Chimerix Inc CMRX in which the company will acquire Chimerix’s exclusive worldwide rights to TEMBEXA (brincidofovir), the first antiviral approved by the U.S. Food and Drug Administration for the treatment of smallpox in all age groups.

"This transaction expands and further diversifies our medical countermeasures business with the addition of a small molecule therapeutic that aligns with the government’s smallpox preparedness strategy," said Paul Williams, SVP government/MCM business at Emergen.

See Also: 6 Stocks To Watch Amid Monkeypox Outbreak

EBS 52-Week Range: $27.61 - $68.02

The stock was up 11.2% at $39.30 at press time.

Photo: jarmoluk from Pixabay.