Top Stock Movers: SIGA, OCGN, VMW
2:32 pm Monday, May 23rd, 2022
SIGA Technologies (NASDAQ:SIGA) stock is in focus again today after President Joe Biden expressed concern over the weekend about a virus called monkeypox, which is closely related to smallpox. SIGA Technologies has developed a drug, Tpoxx, which has approval in the United States, Canada and Europe for the treatment of smallpox. In Europe, regulators have also approved the drug as a treatment for monkeypox. Yesterday Biden said that “everybody should be concerned” about monkeypox. However, today he noted that smallpox vaccines can be used to prevent the illness, while the U.S. government has sufficient smallpox shots to cope with the issue.
VMware (NYSE:VMW) stock is up 20% today on reports that Broadcom (NASDAQ:AVGO) is interested in acquiring the cloud computing company. According to multiple reports, chipmaker Broadcom is in active talks with VMware to purchase it. While negotiations are progressing, no deal has bee announced. However, reports that the two companies are discussing a sale has been enough to push the share price of VMware sharply higher today.
Shares of Ocugen (NASDAQ:OCGN) are in focus today on news that the U.S. Food and Drug Administration (FDA) has lifted its clinical hold on the company’s Covid-19 vaccine candidate. India’s Bharat Biotech produced the vaccine. OCGN stock is down 2% despite the news that clears the biotechnology company to proceed with the necessary clearances for its Covid-19 vaccine. In April, the agency paused trials of Ocugen’s vaccine candidate, called Covaxin, after a World Health Organization inspection of a Bharat Biotech facility.
