On Thursday, shares of mpox vaccine manufacturers, including Bavarian Nordic, surged following the World Health Organization's declaration of a public health emergency in response to the worsening mpox outbreak in Africa. As countries rush to deploy resources to contain the virus and prevent a potential new pandemic, the stock prices of these companies have risen sharply.
Shares of Danish company Bavarian Nordic surged by up to 17% during early trading in Copenhagen on Thursday, although the increase moderated to around 11% as the session progressed.
This rise follows a 12% gain from the previous day, when both the World Health Organization and Africa’s top public health body declared the escalating mpox outbreak a public health emergency.
Bavarian Nordic stands out as one of the few global providers with an approved mpox vaccine, and it is the preferred choice among health authorities due to its lower risk of adverse effects. The company markets the vaccine under three brand names: Jynneos, Imvamune, and Imvanex. Its U.S.-traded shares saw a notable 33% increase in premarket trading on Thursday.
In contrast, shares of Emergent BioSolutions, which acquired the smallpox vaccine ACAM2000 from Sanofi in 2017—smallpox being related to mpox and believed to offer some protection—rose nearly 12% by Wednesday’s close but fell over 3.5% in premarket trading on Thursday.
Tonix Pharmaceuticals, which is developing an experimental horsepox vaccine with potential applications for smallpox and mpox, also experienced a 3.6% dip in premarket trading, offsetting a 2.7% gain from the previous day.
**What Treatments Are Available for Mpox?**
There are limited specific treatments approved for mpox, and many of these have not been thoroughly tested due to the relatively low number of cases. Treatments approved for smallpox, which was eradicated in 1980, have even less data available, but because the viruses are similar, therapies effective against one may have some benefit for the other. While these treatments cannot prevent infection, they can help alleviate symptoms, slow disease progression, and potentially reduce the risk of transmission.
The antiviral drug tecovirimat, marketed as Tpoxx by Siga Technologies, has been approved for smallpox based on animal studies. Although it is not officially authorized for mpox treatment in the U.S., it was made available under emergency protocols during the 2022 outbreak. Tecovirimat is still undergoing evaluation for specific approval against mpox. Siga Technologies saw its shares rise nearly 27% by market close on Wednesday, with a further increase of over 1% in premarket trading on Thursday.
On Wednesday, WHO Director-General Tedros Adhanom Ghebreyesus declared a public health emergency of international concern, following a similar announcement by the Africa Centers for Disease Control and Prevention (Africa CDC). Formerly known as monkeypox, mpox primarily spreads through close contact with infected individuals, animals, or contaminated materials such as towels. The disease usually causes mild symptoms, including fever, swollen lymph nodes, and a characteristic rash filled with pus. However, it can be fatal, particularly for young children, pregnant individuals, and those with weakened immune systems.
According to Africa CDC officials, there have been over 17,000 suspected cases and more than 500 deaths this year. The current outbreak is driven by a different mpox variant than the one responsible for the global outbreak in 2022. This new variant has a higher fatality rate (around 10% compared to less than 1% for the previous variant) and has shown an increased ability to spread among humans, notably through sexual contact. Historically confined to parts of central Africa, especially the Democratic Republic of Congo, the virus appears to have mutated, enhancing its transmission capabilities and raising the risk of a major outbreak. The Africa CDC reports that at least 13 African countries have recently reported cases, including four countries where the virus had not previously been detected.
**Big Number**
300,000. Bavarian Nordic has announced that it has 300,000 doses of its mpox vaccine ready for immediate shipment. The company, in partnership with the European Commission, has already donated over 215,000 doses. CEO Paul Chaplin stated that Bavarian Nordic can supply a total of 2 million doses to Africa by the end of this year and an additional 8 million by 2025.
**What To Watch For**
Chaplin emphasized the need for swift action from countries to secure the available doses, noting that “we are in late August already, so it really does need some speed in the decision making to be able to do that.” Africa CDC officials have identified vaccination as a critical component of their strategy to manage the outbreak. However, the cost of the vaccine—approximately $100 per dose—is high relative to local incomes. For context, this price is about a sixth of the Democratic Republic of Congo’s GDP per capita, which stands at around $650. The challenge remains in sourcing the necessary funds to purchase the required doses.
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