Press release
SIGA Reports Financial Results for Three Months Ended March 31, 2023
- Corporate Update Conference Call Today at 4:30 PM ET - NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a
About this update from Siga Technologies Inc.
[{"type":"text","content":"- Corporate Update Conference Call Today at 4:30 PM ET -\nNEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three months ended March 31, 2023. “First quarter product revenues primarily reflect the sale of oral TPOXX to the U.S. Department of Defense (“DoD”), which marks the third product delivery to the DoD within the past twelve months,” said Phil Gomez, CEO of SIGA. “Including the $5 million of deliveries in the first quarter, we are targeting a total of approximately $11 million of oral TPOXX deliveries to the DoD in 2023. In addition, based on the anticipated expiration this year of significant quantities of TPOXX held within the U.S. Government’s Strategic National Stockpile (“SNS”), we are targeting for this year approximately $113 million of oral TPOXX deliveries to the SNS. We will continue to work to build and meet demand for oral TPOXX across geographic regions around the world as well as continue to work toward deliveries this year of IV TPOXX to the SNS.” Summary Financial Results($ in millions, except per share amounts) Three Months Ended March 31, 2023 in comparison to Three Months Ended March 31, 2022 Three Months Ended March 31,2023 Three MonthsEndedMarch 31,2022Total RevenuesOperating Loss (1)Loss before Income Taxes (1)Net LossDiluted Loss per Share$8.3($2.1)($1.2)($0.9)($0.01) per share $10.5($1.4)($1.1)($0.4)($0.01) per share (1) Operating Loss excludes, and Loss before Income Taxes includes, interest income and adjustments to the fair value of the Company’s outstanding warrant. Both line items exclude the impact of income taxes. Capital Management Activity Earlier today the Company announced a special cash dividend of $0.45 per share. The cash dividend is payable on June 1, 2023 to shareholders of record at the close of business on May 16, 2023. During the first quarter of 2023, SIGA repurchased approximately 1.1 million shares for approximately $7.5 million (excluding excise taxes of $0.1 million). Conference Call and Webcast SIGA will host a conference call and webcast to provide a business update today, Thursday, May 4, 2023, at 4:30 P.M. ET. Participants may access the call by dialing 1-888-999-3182 for domestic callers or 1-848-280-6330 for international callers. A live webcast of ...