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]

Financial Data and Key Metrics Changes - In 2024, SIGA 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 fourth quarter saw a notable international sale of $11 million for oral TPOXX in East Asia, more than double the size of the largest prior individual sale in the region [6][29] Market Data and Key Metrics Changes - SIGA has made significant progress in international markets, including a regulatory approval for TPOXX in Japan, which is expected to enhance global access [9][10] - The company has begun building an international sales and marketing infrastructure to support its growth in these markets [8] Company Strategy and Development Direction - SIGA is focused on expanding its TPOXX franchise and enhancing its international presence while cultivating strategic partnerships, such as the exclusive license for monoclonal antibodies from Vanderbilt University [11][12] - The company aims to secure a new contract for TPOXX with the Strategic National Stockpile, which is seen as a long-term opportunity for growth [22][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the importance of TPOXX as a countermeasure for smallpox, especially given the potential for its reintroduction due to diminished herd immunity [14][15] - The company is monitoring changes in U.S. government administration and believes that national security remains a priority that transcends political considerations [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 capital management decision regarding special dividends is anticipated in the second quarter of 2025, 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 mpox trials to determine the best path forward for treatment regimens [50][53] Question: Impact of NIH funding cuts on RFP for TPOXX - Management emphasized the importance of maintaining strong partnerships with U.S. government agencies and believes national security remains a priority [56][57] Question: Re-engagement with BARDA and potential contract volume - Management stated 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 refuted any significant impact from Dr. Varma's comments, asserting confidence in the science and data supporting TPOXX [72][73] Question: Plans for portfolio diversification beyond TPOXX - Management expressed intentions to pursue portfolio diversification while maximizing the TPOXX franchise [76]

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]

Group 1 - Siga Technologies Inc. (SIGA) closed at $5.83, reflecting a +0.87% change from the previous session, outperforming the S&P 500's daily gain of 0.72% [1] - Over the past month, Siga's shares have decreased by 9.69%, underperforming the Medical sector's gain of 4.51% and the S&P 500's gain of 1.02% [1] Group 2 - The upcoming earnings release of Siga Technologies Inc. is highly anticipated by investors, with a focus on recent adjustments to analyst estimates, which indicate short-term business trends [2] - Upward revisions in analyst estimates suggest positive sentiment regarding Siga's business operations and profit generation capabilities [2][3] Group 3 - 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 Zacks Rank system has a strong track record, with 1 stocks averaging an annual return of +25% since 1988 [4] Group 4 - Siga Technologies Inc. has a Forward P/E ratio of 4.62, significantly lower than the industry average Forward P/E of 20.11, indicating that Siga is trading at a discount compared to its peers [5] - The Medical - Drugs industry, which includes Siga, has a Zacks Industry Rank of 83, placing it in the top 34% of over 250 industries [5][6]

Company Performance - Siga Technologies Inc. closed at $6.34, reflecting a -1.71% change from the previous session, underperforming the S&P 500's loss of 1.46% [1] - The stock has increased by 8.77% over the last month, outperforming the Medical sector's gain of 1.84% and the S&P 500's gain of 1.08% [1] Analyst Insights - Analysts and investors are closely monitoring Siga Technologies Inc. for its upcoming earnings disclosure and any revisions to analyst forecasts, which indicate short-term business trends [2] - Positive revisions in estimates suggest analyst optimism regarding the company's business and profitability [2] Valuation Metrics - Siga Technologies Inc. is currently trading with a Forward P/E ratio of 5.16, significantly lower than the industry's average Forward P/E of 20.73 [5] - The Medical - Drugs industry, which includes Siga Technologies Inc., has a Zacks Industry Rank of 92, placing it in the top 37% of over 250 industries [5] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with 1 rated stocks producing an average annual return of +25% since 1988 [4] - Siga Technologies Inc. currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate remaining steady over the past month [4]

Company Performance - Siga Technologies Inc. closed at $6.35, with a daily increase of +0.32%, underperforming the S&P 500's gain of 1.83% [1] - Over the past month, Siga's shares appreciated by 3.94%, outperforming the Medical sector's decline of 3.48% and the S&P 500's decline of 3.31% [1] Analyst Estimates - Analysts and investors are closely monitoring Siga Technologies Inc. ahead of its upcoming earnings disclosure, with a focus on any changes in analyst estimates [2] - Upward revisions in estimates indicate analysts' positive outlook on the company's business operations and profit generation capabilities [2] Zacks Rank and Valuation - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently places Siga Technologies Inc. at 3 (Hold) [4] - Siga Technologies Inc. has a Forward P/E ratio of 5.06, which is a discount compared to the industry's average Forward P/E of 17.59 [5] - The Medical - Drugs industry, to which Siga belongs, has a Zacks Industry Rank of 70, placing it in the top 28% of over 250 industries [5]