Press release
SIGA Reports Financial Results for Three and Six Months Ended June 30, 2024
Generated Product Sales of $21 Million in the Second Quarter, and $45 Million in the Six Months Ended June 30, 2024Received $113 Million Procurement Order
About this update from Siga Technologies Inc.
[{"type":"text","content":"Generated Product Sales of $21 Million in the Second Quarter, and $45 Million in the Six Months Ended June 30, 2024Received $113 Million Procurement Order from U.S. Government for Oral TPOXX in JulyCorporate Update Conference Call Today at 4:30 PM ET NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and six months ended June 30, 2024. “SIGA continued to perform well again this quarter, generating $21 million of revenues, including $18 million of IV TPOXX sales to the U.S. Government,” said Diem Nguyen, Chief Executive Officer. “For the first six months of the year, product revenues of $45 million include a diverse mix of oral TPOXX deliveries to the U.S. Strategic National Stockpile, the U.S. Department of Defense, and eleven international customers, as well as IV TPOXX deliveries to the U.S. Strategic National Stockpile. We remain committed to advancing our strategy by diversifying and expanding our revenue base while enhancing shareholder value as we look forward to progressing our clinical programs, negotiating the next contract with the U.S. Government, and promoting public health.” Summary Financial Results ($ in millions, except per share amounts)Three Months Ended June 30 Six Months Ended June 30 20242023 20242023Product sales(1)$20.7$1.3 $44.6$7.0Total revenues$21.8$5.9 $47.2$14.2Operating income (loss)(2)$1.1($4.6) $12.4($6.7)Income (loss) before income taxes(2)$2.4($3.4) $15.6($4.7)Net income (loss)$1.8($2.9) $12.1($3.8)Diluted income (loss) per share$0.03($0.04) $0.17($0.05) (1)Includes supportive services related to product sales.(2)Operating income (loss) excludes, and income (loss) before income taxes includes, other income. Both line items exclude the impact of income taxes. Recent Developments: In July 2024, the Company received a procurement order for approximately $113 million of oral TPOXX from the U.S. Government under the 19C BARDA contract, for delivery to the U.S. Strategic National Stockpile (SNS).In the second quarter 2024, SIGA delivered approximately $18 million of IV TPOXX to the U.S. SNS and approximately $3 million of oral TPOXX (known as tecovirimat or Tecovirimat-SIGA in most international markets) to a new customer in the Association of Southeast Asian Nations (ASEAN)...