SIGA Technologies(US:SIGA)2023-08-09 00:15Financial 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]