SIGA Technologies, Inc. (NASDAQ:SIGA) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Diem Nguyen - Chief Executive Officer Dan Luckshire - Chief Financial Officer Conference Call Participants Soo Romanoff - Edison Group Brian Adams - Carter, Terry Operator Welcome to the SIGA Business Update Call. Before we turn the call over to SIGA management, please note that any forward-looking statements made during this call are based on management’s current expectations and observations ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March 31, 2024 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to ___________ (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 31 East 62nd Street ...

NEW YORK, May 7, 2024 -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three months ended March 31, 2024. "SIGA delivered strong results in the first quarter, with product revenues of $24 million and pre-tax operating income of $11 million, both up over the comparable quarter in 2023," said Diem Nguyen, Chief Executive Officer. "First quarter financial performance is a testament to our focus on financial and operational exc ...

SIGA Technologies, Inc. (NASDAQ:SIGA) Q4 2023 Earnings Conference Call March 12, 2024 4:30 PM ET Company Participants Diem Nguyen - Chief Executive Officer Daniel Luckshire - Executive Vice President and Chief Financial Officer Conference Call Participants Soo Romanoff - Edison Group Lance Kimbrough - Ivy Creek Capital Operator Welcome to the SIGA Business Update Call. Before we turn the call over to SIGA management, please note that any forward-looking statements made during this call are based on manageme ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to ___________ Commission File No. 0-23047 SIGA Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 13-38 ...

Exhibit 99.1 SIGA Reports Financial Results for Three and Twelve Months Ended December 31, 2023 NEW YORK -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and twelve months ended December 31, 2023. "In 2023, SIGA had approximately $131 million in product revenues and approximately $84 million of pre-tax operating income," stated Diem Nguyen, Chief Executive Officer. "These financial results represent a significant incr ...

SIGA Technologies, Inc. (NASDAQ:SIGA) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET Company Participants Phillip Louis Gomez - Chief Executive Officer Dennis Hruby - Executive Vice President and Chief Scientific Officer Jay Varma - Executive Vice President and Chief Medical Officer Daniel Luckshire - Executive Vice President and Chief Financial Officer Conference Call Participants Pooya Hemami - Edison Group Paul Saunders - Hatch Capital Operator Welcome to the SIGA business update call. Befo ...

(Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2023 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to ___________ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q New York, NY (zip code) (Address of principal executive offices) Commission File No. 0-23047 Delaware 13-3864870 ...

Financial Data and Key Metrics Changes - For the second quarter of 2023, the company reported a net loss of approximately $3 million, with a fully diluted loss per share of $0.04. For the six months ended June 30, the net loss was approximately $4 million, with a fully diluted loss per share of $0.05 [8][22][37] - The company expects to generate full-year 2023 pre-tax operating income between $90 million and $100 million, reflecting strong growth over the prior year [3][23] Business Line Data and Key Metrics Changes - Revenue for the three months ended June 30, 2023, was approximately $6 million, with $1 million from international sales of oral TPOXX and $5 million from research and development activities. For the six months ended June 30, total revenue was approximately $14 million [22][52] - The company anticipates approximately $113 million in revenue from deliveries of oral TPOXX to the US Strategic National Stockpile in the second half of 2023, along with an additional $30 million to $45 million from various domestic and international deliveries [17][52] Market Data and Key Metrics Changes - The company is seeing increased interest in international sales, with follow-on orders from countries and discussions about smallpox stockpiling [13][39] - The ongoing international sales growth initiative is progressing positively, indicating a meaningful international market is developing [24] Company Strategy and Development Direction - The company is focused on transitioning its US government contract to a long-term SNS contract, which will enhance supply chain planning and financial predictability [9] - The PEP-based development program is viewed as a growth initiative that may support stockpile expansion, emphasizing the need for proactive government measures in response to viral outbreaks [39][54] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of TPOXX in treating orthopoxviruses, noting that the current stockpile may not be sufficient for future needs [53] - The company is investigating lower-than-expected immune response rates in clinical trials, which may affect the timing of regulatory submissions [19][49] Other Important Information - The company declared and paid a special cash dividend of $0.45 per share, totaling approximately $32 million [52] - The CEO search is ongoing, with a focus on ensuring a smooth transition for the next CEO [54] Q&A Session Summary Question: Incremental orders or stockpiling after 2024 under the 19C BARDA contract - Management indicated that discussions with the government are progressing, and they anticipate recognizing sales in the second half of the year [40][41] Question: Plans for stock buybacks - The company has $21 million remaining in its stock buyback authorization and will discuss next steps with the Board once this is used or expires [33] Question: International orders for smallpox and monkeypox stockpiling - Management confirmed that there is increased interest from international jurisdictions regarding stockpiling for smallpox and monkeypox [57]

PART I - FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The unaudited statements show financial position, operations, and cash flows as of June 30, 2023 [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets and stockholders' equity decreased to $146.5 million and $124.1 million respectively Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | June 30, 2023 ($) | December 31, 2022 ($) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 76,213,484 | 98,790,622 | | Accounts receivable | 6,026,887 | 45,406,960 | | Inventory | 50,497,103 | 39,273,090 | | Total current assets | 134,298,100 | 185,786,344 | | **Total assets** | **146,510,759** | **195,035,923** | | **Liabilities & Equity** | | | | Total current liabilities | 18,988,145 | 21,517,721 | | **Total liabilities** | **22,436,703** | **24,875,881** | | **Total stockholders' equity** | **124,074,056** | **170,160,042** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company shifted to a net loss of $3.8 million in H1 2023 from a net income in H1 2022 due to lower revenues Condensed Consolidated Statements of Operations Highlights (Unaudited) | Metric | Three Months Ended June 30, 2023 ($) | Three Months Ended June 30, 2022 ($) | Six Months Ended June 30, 2023 ($) | Six Months Ended June 30, 2022 ($) | | :--- | :--- | :--- | :--- | :--- | | Total revenues | 5,878,166 | 16,667,045 | 14,201,190 | 27,206,345 | | Operating (loss)/income | (4,638,367) | 3,070,711 | (6,746,675) | 1,631,830 | | Net and comprehensive (loss)/income | (2,875,476) | 2,037,062 | (3,793,733) | 1,676,012 | | Diluted (loss)/income per share | (0.04) | 0.03 | (0.05) | 0.02 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash decreased by $22.6 million in H1 2023, driven by significant financing outflows Six Months Ended June 30 - Cash Flow Summary (Unaudited) | Cash Flow Activity | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | Net cash provided by operating activities | 20,866,971 | 54,498,658 | | Cash used in investing activities | (21,686) | — | | Cash used in financing activities | (43,422,423) | (43,106,551) | | Net (decrease)/increase in cash | (22,577,138) | 11,392,107 | | Cash and cash equivalents at end of period | 76,213,484 | 114,530,926 | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail revenue recognition policies, major government contracts, and significant equity transactions - As of June 30, 2023, the aggregate amount of transaction price allocated to remaining performance obligations was **$59.0 million**, with an additional **$138.2 million** added in July from new U.S. government orders[16](index=16&type=chunk) - The 19C BARDA Contract has a total potential value of approximately **$602.5 million**, with about **$407.1 million** in exercised options and **$143.7 million** in unexercised options as of July 31, 2023[22](index=22&type=chunk) - As of June 30, 2023, the company had approximately **$24.6 million** of purchase commitments associated with manufacturing obligations[54](index=54&type=chunk) Revenues by Geographic Region (Six Months Ended June 30) | Region | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | United States | 12,970,007 | 22,254,602 | | International | 1,231,183 | 4,951,743 | | **Total revenues** | **14,201,190** | **27,206,345** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses lower H1 2023 revenue due to order timing, TPOXX® developments, and capital allocation - SIGA is a commercial-stage pharmaceutical company whose lead product, **TPOXX®**, is approved for smallpox in the U.S. and for smallpox, mpox, and cowpox in Europe and the UK[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) - The company is pursuing a potential FDA label expansion for TPOXX® to include **post-exposure prophylaxis (PEP)** for smallpox and is also assessing its use for the treatment of mpox through various clinical trials[82](index=82&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk) - The company estimates that approximately **920,000 courses of TPOXX®** would need to be delivered to the U.S. Strategic Stockpile in 2023 and 2024 to maintain historical levels of unexpired treatment[91](index=91&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) H1 2023 revenues fell to $14.2 million, resulting in a pre-tax loss of $4.7 million Comparison of Results (Three Months Ended June 30) | Metric | 2023 ($M) | 2022 ($M) | Change ($M) | | :--- | :--- | :--- | :--- | | Product Sales Revenue | 1.3 | 8.6 | (7.3) | | R&D Revenue | 4.6 | 8.1 | (3.5) | | SG&A Expenses | 4.4 | 5.9 | (1.5) | | R&D Expenses | 5.1 | 6.8 | (1.7) | | Pre-tax (Loss)/Income | (3.4) | 3.2 | (6.6) | Comparison of Results (Six Months Ended June 30) | Metric | 2023 ($M) | 2022 ($M) | Change ($M) | | :--- | :--- | :--- | :--- | | Product Sales Revenue | 7.0 | 15.9 | (8.9) | | R&D Revenue | 7.2 | 11.3 | (4.1) | | Cost of Sales | 2.1 | 5.6 | (3.5) | | Pre-tax (Loss)/Income | (4.7) | 2.1 | (6.8) | [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) Cash decreased to $76.2 million due to a $32.1 million dividend and $11.0 million in share repurchases - Cash and cash equivalents decreased to **$76.2 million** as of June 30, 2023, from **$98.8 million** at December 31, 2022[120](index=120&type=chunk) - For the six months ended June 30, 2023, cash used in financing activities was **$43.4 million**, primarily due to a **$32.1 million special cash dividend** and **$11.0 million in common stock repurchases**[124](index=124&type=chunk) - As of June 30, 2023, the company had outstanding purchase orders for manufacturing obligations totaling approximately **$24.6 million**[125](index=125&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate changes affecting its cash and equivalents - The company's main market risk exposure is from **changes in U.S. interest rates** affecting its cash and cash equivalents[129](index=129&type=chunk) - SIGA **does not use derivative financial instruments** to manage interest rate exposure[129](index=129&type=chunk) [Item 4. Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2023 - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2023[131](index=131&type=chunk) - **No material changes** were made to the internal control over financial reporting during the quarter ended June 30, 2023[132](index=132&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) Current legal proceedings are not expected to have a material adverse effect on the business - The company is not involved in any legal proceedings that are expected to have a **material adverse effect** on its business[133](index=133&type=chunk) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the 2022 Annual Report on Form 10-K - **No material changes** to risk factors were reported since the 2022 Annual Report on Form 10-K[134](index=134&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 596,900 shares in Q2 2023, with $21.5 million remaining in its buyback program Issuer Purchases of Equity Securities (Q2 2023) | Period | Total Shares Purchased | Average Price Paid per Share ($) | Dollar Value Remaining for Purchase ($) | | :--- | :--- | :--- | :--- | | April 2023 | 431,700 | 5.87 | 22,450,884 | | May 2023 | 165,200 | 5.77 | 21,498,370 | | June 2023 | - | - | 21,498,370 | | **Total** | **596,900** | **5.84** | **21,498,370** | - The company has a share repurchase program authorized for up to **$50 million**, running through December 31, 2023[137](index=137&type=chunk) [Item 3. Defaults upon Senior Securities](index=30&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[138](index=138&type=chunk) [Item 4. Mine Safety Disclosures](index=30&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - No disclosure is required pursuant to this item[139](index=139&type=chunk) [Item 5. Other Information](index=30&type=section&id=Item%205.%20Other%20Information) The company reports no other material information for this period - No disclosure is required pursuant to this item[140](index=140&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including key contract modifications - Exhibits filed include a modification to the **BARDA contract (10.2)**, an amended transition agreement with the former CEO (10.3), and **CEO/CFO certifications** (31.1, 31.2, 32.1, 32.2)[141](index=141&type=chunk)