SIGA Technologies(US:SIGA)2025-11-06 21:53Product Sales and Revenue - SIGA Technologies, Inc. has delivered approximately 1,488,000 courses of oral TPOXX® to the U.S. Strategic National Stockpile since 2013[72]. - As of September 30, 2025, cumulative total of $450.2 million of oral TPOXX® has been delivered and accepted by the Strategic Stockpile[85]. - For the three months ended September 30, 2025, product sales and supportive services revenues were $0.9 million, a decrease from $8.9 million in the same period of 2024[101]. - For the nine months ended September 30, 2025, revenues from product sales and supportive services were $85.8 million, including $53.3 million from oral TPOXX® and $25.8 million from IV TPOXX® sales to the U.S. Government[106]. Financial Performance - The company recorded pre-tax income of $38.3 million for the nine months ended September 30, 2025, compared to $17.5 million in the same period of 2024[112]. - As of September 30, 2025, the company had $172.0 million in cash and cash equivalents, up from $155.4 million at December 31, 2024[114]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $60.3 million, compared to a cash used of $7.5 million in 2024[116]. - Selling, general and administrative expenses for the nine months ended September 30, 2025, were $15.9 million, a decrease from $18.2 million in 2024[109]. - Cost of sales and supportive services for the nine months ended September 30, 2025, were $26.7 million, an increase from $17.2 million in 2024[108]. Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $14.9 million, an increase of approximately $5.9 million compared to $9.0 million in 2024[110]. - The company was awarded a multi-year research contract valued at approximately $27 million from the DoD for potential label expansion of oral TPOXX®[97]. - The Company is targeting a Supplemental NDA submission for oral TPOXX® for smallpox post-exposure prophylaxis in 2026[79]. Regulatory Approvals and Product Development - The FDA approved IV TPOXX® for smallpox treatment on May 18, 2022, expanding the Company's product offerings[74]. - The EMA's Committee for Medicinal Products for Human Use is reviewing the effectiveness of Tecovirimat-SIGA for mpox treatment following clinical trial results[77]. - The International Promotion Agreement allows Meridian to receive a fee equal to a high single-digit percentage of collected proceeds from sales of oral TPOXX® in specified regions[90]. Contracts and Payments - As of September 30, 2025, total payments under the 19C BARDA Contract are approximately $630 million, with $79.2 million in the base period and $545.2 million related to exercised options[83]. - The company has received $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile as of September 30, 2025[84]. Market and Investment Risks - SIGA's forward-looking statements highlight potential risks affecting future performance, including contract completion and market development uncertainties[122]. - The company emphasizes the importance of maintaining governmental approvals for marketing its products, which could impact future revenues[122]. - SIGA's investment portfolio focuses on capital preservation, with a conservative approach to investment duration and credit quality[123]. - The company does not use derivative financial instruments to manage interest rate exposure, indicating a straightforward investment strategy[123]. - SIGA's interest income is sensitive to changes in U.S. interest rates, reflecting market risk associated with its securities[123].