SIGA Technologies Inc. (NASDAQ: SIGA) jumped 41.91% after the biotech announced on May 19, 2022, the approval its IV formulation of the TPOXX therapy for smallpox treatment. Another potential driver for the stock surge is the Monkeypox virus outbreak which is endemic to Africa and rare in other regions. The company and the US government developed TPOXX, also known as tecovirimat (ST-246), as an oral smallpox treatment. The drug received approval in 2018 and is offered for stockpiling to governments in case of outbreaks.
As the European Union moved to buy an antiviral and a vaccine to fight the Monkeypox outbreak, they settled on Siga’s tecovirimat and Bavarian Nordic’s Imvanex. Coordinator Richard Bergstrom said they had settled to purchase both antiviral treatment and vaccine to fight the Monkeypox outbreak following discussions.
Merus NV (NASDAQ: MRUS) was up 32.55% after the clinical oncology firm creating multispecific antibodies confirmed a publication of an abstract showing updated interim findings of the ongoing Phase1/2 energy study and Early Access Program of the bispecific antibody zenocutuzumab in individuals with NRG1 fusion cancer. The abstract, which comprises data as of then January 12, 2022, cut-off data, was published in the American Society of Clinical Oncology.
As of January 12, 2022, the company had treated 99 subjects with NRG+ cancer and assessed efficacy in 73 subjects with the opportunity to have more than six months of follow-up and meet the conditions for the primary efficacy sample. An oral presentation will cover the updated interim data that the study’s principal investigator, Dr. Alison Schram, will present.
Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB) jumped 25.09% after the full-service restaurant chain announced its financial results for fiscal Q1 ending April 17, 2022. The company had revenue of $380.6 million, representing a YoY increase of 19.4%. This was the 8th quarter running of sustained off-premises sales dollars of almost double the pre-pandemic levels. Also, comp restaurant sales were up 19.7% YoY, with almost 200 restaurants serving Donatos pizza before 2022. Donatos pizza selling locations had more comparable sales growth relative to non-Donatos by almost 5% relative to 2019.
Net loss during the quarter was $3.1 million improving $5.6 million relative to a year before. The company reported an adjusted EBITDA of $28 million, improving by $0.6 million relative to 2021. During the quarter, the company unveiled a new redrobin.com site that offers an enhanced digital ordering experience which is expected to enhance the frequency of visits and high order conversion. CEO Paul Murphy said that the company continues to drive significant financial growth across its long-term investments, and so far, they have added Donatos pizza to 50% of the restaurants.