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To: BW who wrote (32199)	12/11/2006 7:29:44 PM
From: Baton	Respond to of 48461

The news back in mid Oct when it tripled in one day. Baton biz.yahoo.com NEW YORK (AP) -- Biotechnology company SIGA Technologies Inc. said Wednesday its lead drug was successful in giving complete protection against smallpox in a Centers for Disease Control and Prevention study on monkeys. The drug candidate, called SIGA-246, prevented symptoms when delivered at the same time as the virus and 24 hours after delivery of the virus. It prevented lesion formation and reduced the virus to non-threatening levels without any obvious toxicity. The Food and Drug Administration granted the drug "fast-track" status in December. The most recent study was funded by the Department of Health and Human Services, the CDC and the Department of Defense. There has not been a natural occurrence of smallpox since 1977. There is currently no approved treatment for the disease. Since the Department of Homeland Security has categorized the disease as a material treatment, the drug candidate would be eligible for addition to the national stockpile. "This drug holds great promise as a therapy for poxvirus infections," said SIGA Chairman Donald Drapkin, in a statement. He said the amount of virus used in the study was equivalent to the level present in late stages of the disease in humans, which demonstrates the drug could be used to prevent the disease possibly up to several days after initial exposure. The news caused shares to rise $4.05 to $6.02 on the INET electronic exchange, indicating the stock may open at more than triple Tuesday's closing price of $1.97. Over the past year, Siga shares have traded on the Nasdaq between 86 cents and $2.33.