Press release
SIGA Announces Deliveries of Oral TPOXX® to HHS Valued at Approximately $32 Million
First Deliveries of Contract Option Exercises Announced in April 2020 NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ:
About this update from Siga Technologies Inc.
[{"type":"text","content":"First Deliveries of Contract Option Exercises Announced in April 2020\n NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the health security market, today announced the deliveries of oral TPOXX® (tecovirimat) to the U.S. Department of Health and Human Services (HHS). These deliveries, valued at approximately $32 million, are the initial deliveries of the contract option exercises announced in April 2020. The previously-announced option exercises under the 2018 contract (“19C BARDA Contract”) with the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at HHS, are worth a total of approximately $101.3 million for the procurement of oral TPOXX. Deliveries of oral TPOXX to maintain national preparedness under these option exercises are expected to be completed by April 2021. SIGA’s full 19C BARDA Contract has up to approximately $414 million of procurement-related options remaining for future exercise. “SIGA is pleased to continue to deliver TPOXX to HHS to ensure robust preparedness for a potential smallpox outbreak,” said Dr. Phil Gomez, CEO of SIGA. “As the ongoing COVID-19 pandemic has demonstrated, preparing in advance to address potential biologic threats is essential for rapid and effective response. Maintaining a supply of treatments, like TPOXX, to combat smallpox is part of a long-standing global commitment to a smallpox emergency response. Smallpox remains one of the most horrific and devastating diseases ever known.” ABOUT SIGA TECHNOLOGIES, INC. and TPOXX® SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market), vaccines and therapies for emerging infectious diseases, and health preparedness. Our lead product is TPOXX®, also known as tecovirimat and ST-246®, an orally administered and IV formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. TPOXX is a novel small-molecule drug and the US maintains a supply of TPOXX under Project BioShield. The oral formulation of TPOXX was approved by the FDA for the treatment of smallpox in 201...