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Smallpox: one US-listed biotech with a clinical-stage programme

Infectious Disease & VaccinesUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$232Muniverse median $1.20B
Allocated capital$232M$232M competing
Phase 3 or filed01 mid, 0 early
Pure plays1this indication only
Capital rank248/299crowding rank 251

Smallpox is uncontested. SIGA Technologies (SIGA) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with Tecovirimat in phase 2.

There is no public comparable to price it against, and SIGA runs clinical programmes in this indication and nothing else, so its $232M market cap is a direct read on what the market thinks this programme is worth.

Nothing here has reached Phase 3: 1 programme in mid stage and 0 in early stage, so the field is still several years from a first approval.

$232M of allocated capital sits in Smallpox, ranking it 248th of 299 indications by the money committed to it.

Companies developing drugs for Smallpox 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
SIGASIGA TechnologiesTecovirimatPhase 22$232MYes1No dated event

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Smallpox counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Smallpox has one competitor and a median of $232M.

Infectious Disease & Vaccines

Infectious Disease & Vaccines holds $16.5B of the map's capital, 2.5% of the total, spread across 13 indications and 10 companies. 0 of those indications have more than one company competing.

See every Infectious Disease & Vaccines indication on the map

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Smallpox pipeline questions

Which biotech companies are developing drugs for Smallpox?

SIGA Technologies (SIGA, Tecovirimat, Phase 2). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Smallpox.

How advanced is the Smallpox pipeline?

Of the 1 clinical-stage programme in Smallpox, 0 are in Phase 3 or filed, 1 is in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Smallpox?

No. SIGA is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Smallpox, which is why the indication is classified as uncontested.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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