Why SIGA Technologies Stock Fell 31.7% in September

SIGA Technologies (NASDAQ: SIGA), a pharmaceutical company that specializes in health security countermeasures against biological, chemical, radiological, and nuclear attacks, along with vaccines and therapies to treat emerging infectious diseases, saw its shares fall 31.7% in September, according to data from S&P Global Intelligence. The company manufactures TPOXX (tecovirimat), a vaccine against monkeypox. On Sept. 19, the Food and Drug Administration (FDA) said that the vaccine, initially developed to prevent smallpox, should be restricted to only those patients with severe monkeypox disease or at high risk of severe cases of monkeypox, including people with weakened immune systems or skin conditions, such as eczema or HIV that is not virally suppressed.