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In the latest trading session, Siga Technologies Inc. (SIGA) closed at $5.74, marking a -0.35% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.08%. Meanwhile, the Dow gained 0.92%, and the Nasdaq, a tech-heavy index, added 1.41%.The the stock of company has fallen by 3.84% in the past month, lagging the Medical sector's gain of 0.21% and overreaching the S&P 500's loss of 8.26%.Investors will be eagerly watching for the performance of Siga Technologies Inc. in it ...

NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ:SIGA), a commercial-stage pharmaceutical company, announced today the appointment of Retired United States Army General John "Jack" Keane to its Board of Directors, effective immediately. General Keane, a retired four-star general, completed 37 years of public service in December 2003, culminating with his appointment as acting Chief of Staff and Vice Chief of Staff of the U.S. Army from 1999 to 2003. He is a foreign policy ...

Financial Data and Key Metrics Changes - In 2024, SIGA Technologies reported product sales of $133 million, an increase of approximately 2% from 2023, marking the second consecutive year of sales growth [4][28] - For the fourth quarter of 2024, product sales were approximately $80 million, with $51 million from oral TPOXX and $9 million from IV TPOXX delivered to the Strategic National Stockpile [5][29] - Net income for the full year 2024 was approximately $59 million, with fully diluted income per share at $0.82 [32] Business Line Data and Key Metrics Changes - The revenue mix for 2024 included $74 million from oral TPOXX sales to the Strategic National Stockpile, $26 million from IV TPOXX sales, and $23 million from international customers [30] - The company recognized research and development revenues of $5.4 million for the full year 2024 [31] Market Data and Key Metrics Changes - A notable sale of $11 million of oral TPOXX was made in East Asia, more than double the size of the largest prior individual sale in the region [6][29] - The company achieved regulatory approval for TPOXX in Japan, expanding its market access [9][10] Company Strategy and Development Direction - SIGA is focused on expanding its international sales and marketing infrastructure, having assumed responsibility for promoting TPOXX outside the U.S. [8] - The company is cultivating strategic partnerships, including an exclusive license for a portfolio of monoclonal antibodies from Vanderbilt University [11] - SIGA aims to secure a new contract for the supply of TPOXX to the Strategic National Stockpile, viewing this as a long-term opportunity [22][24] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of TPOXX in national security and preparedness against smallpox, especially given the diminished herd immunity in the population [14][15] - The company is well-positioned to engage with the new administration regarding future contracts, despite potential uncertainties [23][25] Other Important Information - SIGA maintained a strong balance sheet with a cash balance of $155 million and no debt as of December 31, 2024 [33] - The company has a $70 million outstanding order balance expected to be delivered in 2025 [33] Q&A Session Summary Question: Updates on oral TPOXX deliveries and expected timelines - Management confirmed that $70 million of outstanding orders primarily consist of oral and IV TPOXX deliveries, expected to start in the second quarter of 2025 [38][39] Question: Potential for special dividends given strong cash position - Management indicated that a decision regarding special dividends would be made in the second quarter, consistent with prior years [44] Question: Details on international growth and distribution agreements - The distribution agreement with Japan Biotechno Pharma has not been disclosed, but it is noted to be more efficient than previous agreements [46] Question: Future of mpox opportunity and trial adjustments - Management is analyzing clinical data from recent trials to determine the best path forward for tecovirimat treatment in mpox patients [50][53] Question: Impact of NIH funding cuts on RFP expectations - Management stated that national security remains a priority across administrations, and they are positioned to engage with officials regarding future contracts [56][57] Question: Re-engagement with BARDA and potential contract volume - Management highlighted ongoing discussions with BARDA regarding the importance of tecovirimat for smallpox preparedness, but specific volume requirements have not yet been identified [66] Question: Inventory details and its relation to outstanding orders - The inventory balance includes products for the $70 million outstanding orders and a fair amount of active pharmaceutical ingredients (API) for future orders [69] Question: Fallout from Dr. Varma's comments on TPOXX efficacy - Management reaffirmed their commitment to the science behind tecovirimat and stated that Dr. Varma's contributions have had minimal impact on sales [72][73] Question: Plans for portfolio diversification beyond TPOXX - Management expressed intentions to pursue portfolio diversification while maximizing the TPOXX franchise [76]

SIGA Technologies, Inc. (NASDAQ:SIGA) Q4 2024 Earnings Conference Call March 11, 2025 4:30 PM ET Company Participants Diem Nguyen - Chief Executive Officer Dan Luckshire - Executive Vice President and Chief Financial Officer Conference Call Participants Jyoti Prakash - Edison Group Brian Adams - Carter, Terry & Company Operator Welcome to the SIGA Business Update Call. Before we turn the call over to SIGA management, please note that any forward-looking statements majoring this call are based on management' ...

Financial Performance - The company's revenue for the year ended December 31, 2024, was $138.7 million, reflecting the recognition of performance obligations related to product delivery and supportive services [271]. - Total revenues for 2024 were $138.72 million, a slight decrease of 0.9% compared to $139.92 million in 2023 [279]. - Product sales and supportive services increased to $133.33 million in 2024, up from $130.67 million in 2023, reflecting a growth of 2.0% [279]. - Operating income for 2024 was $69.98 million, down 16.3% from $83.62 million in 2023 [279]. - Net income for 2024 was $59.21 million, a decrease of 13.0% compared to $68.07 million in 2023 [279]. - Basic earnings per share for 2024 were $0.83, down from $0.95 in 2023, representing a decline of 12.6% [279]. - Revenues from the United States accounted for $115.74 million in 2024, a decrease from $118.65 million in 2023 [385]. - International revenues totaled $22.98 million in 2024, slightly up from $21.27 million in 2023 [385]. Cash and Assets - Cash and cash equivalents increased to $155.4 million in 2024 from $150.1 million in 2023, while total assets decreased to $244.3 million from $254.4 million [276]. - Cash and cash equivalents at the end of 2024 increased to $155.40 million, up from $150.15 million at the end of 2023 [284]. - Net cash provided by operating activities for 2024 was $48.76 million, a decrease of 48.6% compared to $94.80 million in 2023 [284]. - The company had approximately $53.5 million of cash equivalents classified as Level 1 financial instruments as of December 31, 2024 [327]. - The Company has not experienced any losses on its cash accounts, indicating a low concentration of credit risk [296]. Liabilities and Equity - Total current liabilities significantly decreased from $54.1 million in 2023 to $25.3 million in 2024, primarily due to a reduction in deferred IV TPOXX® revenue from $20.8 million to $10.3 million [276]. - The accumulated deficit improved from $(38.9) million in 2023 to $(22.8) million in 2024, indicating a reduction in losses [276]. - The company’s additional paid-in capital increased from $235.8 million in 2023 to $238.6 million in 2024, reflecting ongoing investment activities [276]. - As of December 31, 2024, accrued expenses and other current liabilities decreased to $5,640,110 from $10,181,810 in 2023, a reduction of approximately 44.5% [355]. Research and Development - Research and development expenses for 2024 were $12.31 million, down from $16.43 million in 2023, a reduction of 25.4% [279]. - Research and development expenses include costs related to employee-related costs, materials, and services provided by outside contractors, all of which are expensed as incurred [318]. Contracts and Revenue Recognition - The company faces risks related to the BARDA Contract, including the potential for unexercised options and delays in performance [17]. - The Company has a contract with BARDA for up to approximately $602.5 million in payments, with $51.7 million in the base period and $519.6 million related to exercised options [334]. - The Company recognized revenue of $10.8 million during the year ended December 31, 2024, that was included in deferred revenue at the beginning of the period [312]. - The aggregate amount of transaction price allocated to remaining performance obligations was $92.8 million as of December 31, 2024 [313]. - The Company recognized $100.1 million and $97.9 million in revenue from product delivery for the years ended December 31, 2024 and 2023, respectively [340]. - The Company recognized revenues of $5.4 million and $3.0 million for the years ended December 31, 2024 and 2023, respectively, on an over time basis under the BARDA contract [340]. Market Presence and Sales - The company continues to expand its market presence with TPOXX® approved in multiple international markets, including recent approval in Japan in December 2024 [290]. - The Company had sales of approximately $10 million with the U.S. Department of Defense in 2024, primarily from oral TPOXX® [341]. - International sales for the year ended December 31, 2024, amounted to $23.0 million, an increase from $21.3 million in 2023 [344][346]. - Cumulative total of $396.9 million of oral TPOXX® has been delivered to the Strategic Stockpile as of December 31, 2024 [336]. Dividends and Stock Compensation - The company declared a cash dividend of $0.60 per share in 2024, compared to $0.45 per share in 2023 [281]. - A special dividend of $0.60 per share was declared on March 12, 2024, resulting in an overall payment of approximately $43 million [361]. - The company recorded stock-based compensation expense of approximately $3.6 million for the year ended December 31, 2024, an increase of 71.4% from $2.1 million in 2023 [364]. - The total fair value of restricted stock and restricted stock units vested during 2024 was approximately $2.6 million, compared to $1.9 million in 2023, indicating a 36.8% increase [374]. Taxation - The effective tax rate for 2024 was 22.2%, slightly lower than 22.5% in 2023 [378]. - The company reported a total current provision for income taxes of $16.66 million for 2024, down from $24.51 million in 2023 [375]. - Deferred income tax assets, net of valuation allowance, were $11.36 million as of December 31, 2024, compared to $11.53 million in 2023 [376].

Financial Performance - SIGA reported $133 million in product sales for 2024, marking a growth from $130.7 million in 2023[4] - The company achieved a pre-tax operating income of $70 million and a net income of $59.2 million for the year ended December 31, 2024[4][5] - Total revenues for 2024 were $138.7 million, slightly down from $139.9 million in 2023[4] - Diluted earnings per share for 2024 were $0.82, compared to $0.95 in 2023[4] Product Sales and Market Expansion - Approximately $100 million of product sales were generated from oral and IV TPOXX to the U.S. Strategic National Stockpile, with $60 million recognized in Q4 2024[11] - SIGA received procurement orders for oral TPOXX from 30 countries over the past three years, with international sales to 13 countries in 2024[11] - TPOXX received regulatory approval in Japan in January 2025 for the treatment of smallpox and mpox, expanding its market reach[11] Future Revenue Potential - The company has approximately $70 million in outstanding procurement orders as it enters 2025, indicating potential future revenue[3] Financial Health - Total current assets decreased to $231 million in 2024 from $238.99 million in 2023[15] - Total liabilities significantly decreased to $28.53 million in 2024 from $57.49 million in 2023, reflecting improved financial health[15]

Core Insights - SIGA Technologies, Inc. reported strong financial performance in 2024, achieving $133 million in product sales and $70 million in pre-tax operating income, marking the second consecutive year of revenue growth [2][6]. Financial Performance - For the year ended December 31, 2024, SIGA's product sales were $133.3 million, up from $130.7 million in 2023, reflecting a growth of approximately 1.9% [2][16]. - Total revenues for 2024 were $138.7 million, slightly down from $139.9 million in 2023 [2][16]. - Operating income decreased to $70 million in 2024 from $83.6 million in 2023, a decline of about 16.1% [2][16]. - Net income for 2024 was $59.2 million, compared to $68.1 million in 2023, representing a decrease of approximately 13.1% [2][16]. - Diluted income per share was $0.82 in 2024, down from $0.95 in 2023 [2][16]. Product Sales Breakdown - In 2024, SIGA generated approximately $100 million in product sales of oral and IV TPOXX to the U.S. Strategic National Stockpile, with about $60 million recognized in Q4 [7]. - The company also reported around $10 million in product sales to the U.S. Department of Defense, with approximately $9 million recognized in Q4 [7]. - International sales amounted to approximately $23 million, with about $11 million recognized in Q4 [7]. - SIGA has received procurement orders for oral TPOXX from 30 countries over the past three years, with international sales to 13 countries in 2024 [7]. Regulatory Approvals and Market Expansion - In January 2025, SIGA announced that TPOXX received regulatory approval in Japan for the treatment of smallpox and other related conditions, marking a significant milestone for the company's product portfolio [7]. - The approval in Japan represents the first antiviral therapy approved for orthopoxviruses by the Pharmaceuticals and Medical Devices Agency [7]. Future Outlook - The company is focused on durable growth and has approximately $70 million in outstanding procurement orders as it enters 2025 [2][6].

Company Overview - SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on developing innovative medicines for infectious diseases, particularly orthopoxviruses [4] - The company aims to protect against severe infectious diseases through partnerships with governments and public health agencies [4] - SIGA's flagship product, TPOXX® (tecovirimat), is approved in the U.S. and Canada for smallpox treatment and authorized in Europe, the UK, and Japan for smallpox, mpox, cowpox, and vaccinia complications [4] Upcoming Events - Management will host a webcast and conference call on March 11, 2025, at 4:30 P.M. ET to provide a business update [1] - The call will feature CEO Diem Nguyen and CFO Daniel Luckshire [1] - A live webcast will be available on the company's website, and participants are encouraged to log in 5-10 minutes prior to the start time [2] Access Information - Domestic callers can access the call by dialing 1-800-717-1738, while international callers can dial 1-646-307-1865 [2] - A replay of the call will be available for two weeks using specific dial-in numbers and Conference ID: 1152574 [3] - The archived webcast will also be accessible in the Investor Relations section of the company's website [3]

Company Performance - Siga Technologies Inc. closed at $6.04, with a +0.83% change from the previous day, outperforming the S&P 500's daily gain of 0.24% [1] - Over the past month, shares have depreciated by 5.22%, underperforming the Medical sector's gain of 3.63% and the S&P 500's gain of 2.37% [1] Earnings and Analyst Estimates - The investment community is closely monitoring Siga Technologies Inc. for its forthcoming earnings report, with recent modifications to analyst estimates being significant indicators of business trends [2] - Positive estimate revisions are viewed as a sign of optimism regarding the company's business outlook [2] Zacks Rank and Valuation - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with stocks rated 1 producing an average annual return of +25% since 1988 [4] - Siga Technologies Inc. currently holds a Zacks Rank of 3 (Hold), with no change in the Zacks Consensus EPS estimate over the past month [4] - The company has a Forward P/E ratio of 4.79, indicating a discount compared to the industry average Forward P/E of 20.75 [5] Industry Context - The Medical - Drugs industry, part of the Medical sector, has a Zacks Industry Rank of 86, placing it in the top 35% of over 250 industries [5] - The Zacks Industry Rank assesses the strength of industry groups, showing that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]