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Dec 31, 2019
SIGA Technologies Q4 2019 Earnings Report
SIGA Technologies reported financial results for fiscal year 2019.
Key Takeaways
SIGA Technologies reported a revenue of approximately $27 million and an operating loss of approximately $2 million for the year ended December 31, 2019. The company's cash and cash equivalents were approximately $161 million at the end of the year. SIGA also announced product delivery expectations for oral TPOXX® and a $50 million share repurchase program.
Revenue for the year ended December 31, 2019, was approximately $27 million.
Operating loss for the year was approximately $2 million.
Net loss per share was $0.15 per diluted share for the year.
Cash and cash equivalents were approximately $161 million at December 31, 2019.
SIGA Technologies
SIGA Technologies
SIGA Technologies Revenue by Segment
Revenue by Segment
Product sales & supportive services Revenue
CapyFin.comResearch and development Revenue
CapyFin.com Forward Guidance
SIGA expects the near-term exercise of procurement options by BARDA under the 19C BARDA Contract worth a total of approximately $101 million for the procurement of 363,070 courses of oral TPOXX® (tecovirimat).
Positive Outlook
- Near-term exercise of procurement options by BARDA expected.
- Total of approximately $101 million for the procurement of 363,070 courses of oral TPOXX®.
- Deliveries of oral TPOXX® to the Strategic National Stockpile (SNS) are expected to start in the second quarter of 2020.
- Approximately $101 million of oral TPOXX® courses are expected to be delivered to the SNS by April 2021.
- The 19C BARDA Contract would have up to $414 million of procurement-related options remaining for future exercise.
Challenges Ahead
- The timing and actual number of shares repurchased will depend on various factors.
- Exercise of procurement options under government contracts will affect share repurchases.
- Alternative opportunities for strategic uses of cash will affect share repurchases.
- The stock price of the Company’s common stock will affect share repurchases.
- Prior to executing any repurchases under this program, the Company’s current term loan would need to be amended or fully repaid.
Revenue & Expenses
Visualization of income flow from segment revenue to net income