SIGA Technologies Q2 2022 Earnings Report
Key Takeaways
SIGA Technologies reported a strong second quarter in 2022, marked by increased revenues driven by initial sales of oral TPOXX to the Asia-Pacific region and the U.S. Department of Defense, alongside ongoing international orders.
Total revenue increased to $16.7 million compared to $8.7 million in Q2 2021.
Operating income reached $3.1 million, a significant improvement from $0.0 million in Q2 2021.
Net income was reported at $2.0 million, up from $0.2 million in the same quarter last year.
Diluted income per share stood at $0.03, compared to $0.00 in Q2 2021.
SIGA Technologies
SIGA Technologies
SIGA Technologies Revenue by Segment
Forward Guidance
SIGA Technologies anticipates a positive trend in the second half of 2022, driven by international orders for oral TPOXX, with deliveries expected through July 2023. The company expects $26 million of the $60 million in orders to be delivered in Q3 2022.
Positive Outlook
- Continued expansion and diversification of its revenue base.
- Increase in the number of international governments procuring oral TPOXX.
- Large number of inquiries regarding TPOXX procurement.
- U.K. approval of oral tecovirimat for treatment of orthopoxviruses.
- FDA approval of the intravenous formulation of TPOXX (IV TPOXX).
Challenges Ahead
- Potential risks associated with BARDA contracts, including possible modifications or cancellations.
- Uncertainty in the development of the international biodefense market.
- Risks related to the efficacy and safety of potential products in clinical trials.
- Possible disruptions to SIGA’s supply chain for TPOXX manufacture.
- Risks associated with responding to the current monkeypox outbreak.
Revenue & Expenses
Visualization of income flow from segment revenue to net income