Is It Too Late to Buy SIGA Technologies Stock?

Many investors likely hadn't heard of drugmaker $SIGA Technologies (SIGA.US)$ even just a month ago. However, with shares of the company soaring more than 48% in July, blasting past the S&P 500's gains of 9%, the stock is getting much more attention these days.
Siga's sudden rise in price and prominence traces directly to the World Health Organization's (WHO) recent announcement declaring monkeypox a public health emergency. Siga, which owns a monkeypox treatment in Tpoxx, is likely to experience a surge in sales.
The danger with buying shares of Siga is that you're effectively betting on the outbreak of monkeypox. That's risky because while the fatality case rate appears higher than COVID, it may not end up being that way. Plus, early indications are that monkeypox is transmitted primarily through direct contact, which would make it less likely to spread as aggressively as COVID, which is airborne.
Investors jumping on the bandwagon and hoping that Siga can be the next $Moderna (MRNA.US)$ could be sorely disappointed. Its business just isn't robust and diverse enough for investors to have much to fall back on if rising monkeypox cases don't lead to a significant increase in demand.