Siga Technologies (NASDAQ:SIGA) Posts Earnings Results

Siga Technologies (NASDAQ:SIGA) posted its earnings results on Thursday. The company reported $0.17 EPS for the quarter, FiscalAI reports. The business had revenue of $41.00 million for the quarter. Siga Technologies had a negative net margin of 5.19% and a negative return on equity of 1.51%.

Here are the key takeaways from Siga Technologies’ conference call:

• Second-quarter product revenue was $38 million, including $24 million of IV TPOXX delivered to the U.S. Strategic National Stockpile and $13 million of international sales. Net income was approximately $12 million, or $0.17 per diluted share.
• SIGA completed all product obligations under its 19C contract, including the final IV TPOXX order, and continues discussions with the U.S. government on a new multi-year procurement agreement.
• The U.S. procurement process is taking longer than expected due to changes and leadership vacancies within HHS, as well as the transition of the contract from BARDA to the Strategic National Stockpile; the timing of a new award remains uncertain.
• International activity is expanding, with a new Asia-Pacific order delivered during the quarter, a first delivery to a European customer, and a Hikma partnership intended to broaden TPOXX commercialization across the Middle East and North Africa.
• SIGA ended June with approximately $118 million in cash and no debt, while continuing development of pediatric and post-exposure prophylaxis programs; an FDA submission for the PEP program is targeted for the first half of 2027.

Siga Technologies Trading Down 2.2%

SIGA stock traded down $0.07 during midday trading on Friday, hitting $3.05. 677,625 shares of the company’s stock were exchanged, compared to its average volume of 783,001. The firm has a 50 day moving average price of $3.78 and a 200-day moving average price of $4.89. Siga Technologies has a 12-month low of $3.01 and a 12-month high of $9.62. The stock has a market capitalization of $218.75 million, a price-to-earnings ratio of -61.00 and a beta of 0.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Siga Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Siga Technologies has an average rating of “Sell”.

Institutional Trading of Siga Technologies

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in shares of Siga Technologies by 418.1% in the 4th quarter. Farther Finance Advisors LLC now owns 4,150 shares of the company’s stock valued at $25,000 after purchasing an additional 3,349 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Siga Technologies by 34.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company’s stock worth $30,000 after purchasing an additional 1,184 shares during the last quarter. CWM LLC boosted its holdings in shares of Siga Technologies by 148.6% during the fourth quarter. CWM LLC now owns 5,027 shares of the company’s stock valued at $31,000 after acquiring an additional 3,005 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Siga Technologies by 116.6% during the second quarter. Tower Research Capital LLC TRC now owns 6,817 shares of the company’s stock worth $44,000 after acquiring an additional 3,669 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Siga Technologies by 47.0% during the fourth quarter. Parallel Advisors LLC now owns 7,969 shares of the company’s stock worth $49,000 after acquiring an additional 2,549 shares during the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

About Siga Technologies

Siga Technologies, Inc (NASDAQ: SIGA) is a specialty pharmaceutical company focused on the development, manufacturing and commercialization of medical countermeasures for public health emergencies and biological threats. The company’s flagship product, TPOXX® (tecovirimat), is the first and only antiviral approved by the U.S. Food and Drug Administration for the treatment of smallpox. Siga has entered into procurement and development contracts with U.S. government agencies, including the Biomedical Advanced Research and Development Authority (BARDA) and the Department of Defense, to supply TPOXX® for the Strategic National Stockpile.

Founded in 2002, Siga has built a pipeline of therapies targeting high-consequence pathogens such as smallpox, plague and other potential biothreat agents.