SIGA Reports Financial Results for Three and Twelve Months Ended December 31, 2024
SIGA Technologies (NASDAQ: SIGA) reported strong financial results for 2024, achieving $133 million in product sales and $70 million in pre-tax operating income, resulting in $59 million in net income. The company marked its second consecutive year of product revenue growth.
The sales breakdown includes:
- $100 million in oral and IV TPOXX sales to U.S. Strategic National Stockpile
- $10 million to U.S. Department of Defense
- $23 million in international sales
SIGA has received TPOXX procurement orders from 30 countries over the past three years, with sales to 13 countries in 2024, including its first sale in Africa to Morocco. In January 2025, TPOXX (TEPOXX) received regulatory approval in Japan for treating smallpox, mpox, cowpox, and vaccination complications in adults and pediatric patients weighing at least 13 kg.
SIGA Technologies (NASDAQ: SIGA) ha riportato risultati finanziari solidi per il 2024, raggiungendo 133 milioni di dollari in vendite di prodotti e 70 milioni di dollari in reddito operativo ante imposte, con un reddito netto di 59 milioni di dollari. L'azienda ha segnato il suo secondo anno consecutivo di crescita delle entrate da prodotto.
La suddivisione delle vendite include:
- 100 milioni di dollari in vendite di TPOXX orali e IV allo Strategic National Stockpile degli Stati Uniti
- 10 milioni di dollari al Dipartimento della Difesa degli Stati Uniti
- 23 milioni di dollari in vendite internazionali
SIGA ha ricevuto ordini di approvvigionamento di TPOXX da 30 paesi negli ultimi tre anni, con vendite a 13 paesi nel 2024, inclusa la sua prima vendita in Africa in Marocco. Nel gennaio 2025, TPOXX (TEPOXX) ha ricevuto l'approvazione normativa in Giappone per il trattamento del vaiolo, mpox, vaiolo bovino e complicazioni da vaccinazione in pazienti adulti e pediatrici con un peso di almeno 13 kg.
SIGA Technologies (NASDAQ: SIGA) reportó resultados financieros sólidos para 2024, logrando 133 millones de dólares en ventas de productos y 70 millones de dólares en ingresos operativos antes de impuestos, resultando en 59 millones de dólares en ingresos netos. La empresa marcó su segundo año consecutivo de crecimiento en ingresos por productos.
La desagregación de las ventas incluye:
- 100 millones de dólares en ventas de TPOXX orales e IV al Strategic National Stockpile de EE.UU.
- 10 millones de dólares al Departamento de Defensa de EE.UU.
- 23 millones de dólares en ventas internacionales
SIGA ha recibido órdenes de adquisición de TPOXX de 30 países en los últimos tres años, con ventas a 13 países en 2024, incluida su primera venta en África a Marruecos. En enero de 2025, TPOXX (TEPOXX) recibió la aprobación regulatoria en Japón para tratar el viruela, mpox, vaccinia y complicaciones de vacunación en pacientes adultos y pediátricos que pesen al menos 13 kg.
SIGA Technologies (NASDAQ: SIGA)는 2024년 강력한 재무 결과를 보고하며 1억 3천 3백만 달러의 제품 판매와 7천만 달러의 세전 운영 소득을 달성하여 5천 9백만 달러의 순이익을 기록했습니다. 이 회사는 제품 수익 성장의 두 번째 연속 해를 기념했습니다.
판매 내역은 다음과 같습니다:
- 미국 전략 국가 비축물자에 대한 경구 및 IV TPOXX 판매 1억 달러
- 미국 국방부에 1천만 달러
- 국제 판매 2천 3백만 달러
SIGA는 지난 3년 동안 30개국으로부터 TPOXX 조달 주문을 받았으며, 2024년에는 13개국에 판매했습니다. 그 중 아프리카 최초의 판매처는 모로코입니다. 2025년 1월, TPOXX (TEPOXX)는 일본에서 성인 및 체중이 최소 13kg인 소아 환자의 천연두, mpox, 우두 및 백신 합병증 치료를 위한 규제 승인을 받았습니다.
SIGA Technologies (NASDAQ: SIGA) a annoncé de solides résultats financiers pour 2024, atteignant 133 millions de dollars de ventes de produits et 70 millions de dollars de bénéfice d'exploitation avant impôts, ce qui a conduit à 59 millions de dollars de bénéfice net. L'entreprise a marqué sa deuxième année consécutive de croissance des revenus de produits.
La répartition des ventes comprend :
- 100 millions de dollars de ventes de TPOXX oraux et IV au Strategic National Stockpile des États-Unis
- 10 millions de dollars au Département de la Défense des États-Unis
- 23 millions de dollars de ventes internationales
SIGA a reçu des commandes d'approvisionnement de TPOXX en provenance de 30 pays au cours des trois dernières années, avec des ventes à 13 pays en 2024, y compris sa première vente en Afrique au Maroc. En janvier 2025, TPOXX (TEPOXX) a reçu l'approbation réglementaire au Japon pour le traitement de la variole, du mpox, de la vaccine et des complications de vaccination chez les patients adultes et pédiatriques pesant au moins 13 kg.
SIGA Technologies (NASDAQ: SIGA) meldete starke finanzielle Ergebnisse für 2024 und erzielte 133 Millionen Dollar an Produktverkäufen sowie 70 Millionen Dollar an Betriebseinkommen vor Steuern, was zu 59 Millionen Dollar Nettogewinn führte. Das Unternehmen verzeichnete im zweiten Jahr in Folge ein Wachstum der Produktumsätze.
Die Verkaufsaufteilung umfasst:
- 100 Millionen Dollar an oralen und IV TPOXX-Verkäufen an das Strategic National Stockpile der USA
- 10 Millionen Dollar an das US-Verteidigungsministerium
- 23 Millionen Dollar an internationalen Verkäufen
SIGA hat in den letzten drei Jahren TPOXX-Beschaffungsaufträge aus 30 Ländern erhalten, mit Verkäufen an 13 Länder im Jahr 2024, einschließlich des ersten Verkaufs in Afrika nach Marokko. Im Januar 2025 erhielt TPOXX (TEPOXX) die behördliche Genehmigung in Japan zur Behandlung von Pocken, mpox, Kuhpocken und Impfkomplikationen bei Erwachsenen und pädiatrischen Patienten mit einem Gewicht von mindestens 13 kg.
- Second consecutive year of product revenue growth
- $133 million in product sales for 2024
- $70 million pre-tax operating income and $59 million net income
- Geographic expansion with sales to 13 countries in 2024
- New regulatory approval in Japan for multiple indications
- $70 million in outstanding procurement orders
- None.
Insights
SIGA's financial results demonstrate impressive performance with
The revenue diversification strategy deserves attention. While U.S. government contracts remain dominant (
The
The fourth quarter was particularly strong, with approximately
The regulatory approval of TPOXX (marketed as TEPOXX) in Japan marks a significant milestone in SIGA's global expansion strategy. This approval is particularly noteworthy as it covers multiple indications: smallpox, mpox, cowpox, and complications following smallpox vaccination in adults and pediatric patients weighing at least 13 kg.
Japan's Pharmaceuticals and Medical Devices Agency (PDMA) approval is especially valuable as TEPOXX becomes the first antiviral therapy approved for the treatment of orthopoxviruses in this market. This first-mover advantage in Japan, the world's third-largest pharmaceutical market, establishes an important foothold in Asia.
The expanded label covering multiple orthopoxvirus indications demonstrates the product's broad utility beyond the original smallpox focus. This multi-indication approval provides flexibility in marketing and potential use cases.
SIGA's geographic expansion continues to accelerate, with the company's first entry into the African market through sales to Morocco. This represents execution on a truly global commercialization strategy spanning North America, Europe, Asia, and now Africa, aligning with the broader trend of countries building medical countermeasure stockpiles against potential biological threats.
- Increased Product Sales to
$133 Million in 2024 - Generated Pre-tax Operating Income and Net Income of
$70 Million and$59 Million , Respectively, in 2024 - Corporate Update Conference Call Today at 4:30 PM ET
NEW YORK, March 11, 2025 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and twelve months ended December 31, 2024.
“2024 was a year of strong financial performance and operational execution for SIGA in which we delivered
Summary Financial Results
| ($ in millions, except per share amounts) | Three Months Ended December 31 | Year Ended December 31 | |||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||
| Product sales (1) | $ | 79.8 | $ | 115.7 | $ | 133.3 | $ | 130.7 | |||
| Total revenues (2) | $ | 81.4 | $ | 116.5 | $ | 138.7 | $ | 139.9 | |||
| Operating income(3) (4) | $ | 57.1 | $ | 91.7 | $ | 70.0 | $ | 83.6 | |||
| Income before income taxes | $ | 58.6 | $ | 92.9 | $ | 76.1 | $ | 87.8 | |||
| Net income | $ | 45.7 | $ | 72.3 | $ | 59.2 | $ | 68.1 | |||
| Diluted income per share | $ | 0.63 | $ | 1.01 | $ | 0.82 | $ | 0.95 | |||
(1) Includes supportive services related to product sales.
(2) Includes research and development revenues.
(3) Operating income excludes, and income before income taxes includes other income. Both line items exclude the impact of income taxes.
(4) Differences in operating income margin between periods reflects different product mixes in those periods.
Key Activity:
- In 2024, SIGA reported
$133 million of product sales, including: approximately$100 million of product sales of oral and IV TPOXX to the U.S. Strategic National Stockpile (SNS), of which approximately$60 million was recognized as revenue in the fourth quarter; approximately$10 million of product sales of oral and IV TPOXX to the U.S. Department of Defense, of which approximately$9 million was recognized in the fourth quarter; and approximately$23 million of international sales, of which approximately$11 million was recognized in the fourth quarter. - Highlighting the diversity of the Company’s revenue base, the Company has received procurement orders for oral TPOXX from 30 countries over the past three years, with international sales to 13 countries in 2024. As an example of the continuing diversification trend, in October 2024, the Company announced its first sale of TPOXX (tecovirimat) in Africa, made in response to a request from the Ministry of Health in Morocco.
- In January 2025, the Company announced that TPOXX received regulatory approval in Japan (as TEPOXX) for the treatment of smallpox, mpox, cowpox, as well as complications following smallpox vaccination in adults and pediatric patients weighing at least 13 kg. TEPOXX is the first antiviral therapy approved by the Pharmaceuticals and Medical Devices Agency (PDMA), in collaboration with the Japan Ministry of Health, Labour and Welfare, for the treatment of orthopoxviruses.
Conference Call and Webcast
SIGA will host a conference call and webcast to provide a business update today, Tuesday, March 11, 2025, at 4:30 P.M. ET.
Participants may access the call by dialing 1-800-717-1738 for domestic callers or 1-646-307-1865 for international callers. A live webcast of the call will also be available on the Company's website at www.siga.com in the Investor Relations section of the website, or by clicking here. Please log in approximately 5-10 minutes prior to the scheduled start time.
A replay of the call will be available for two weeks by dialing 1-844-512-2921 for domestic callers or 1-412-317-6671 for international callers and using Conference ID: 1152574. The archived webcast will be available in the Investor Relations section of the Company's website.
ABOUT SIGA
SIGA is a commercial-stage pharmaceutical company and leader in global health focused on the development of innovative medicines to treat and prevent infectious diseases. With a primary focus on orthopoxviruses, we are dedicated to protecting humanity against the world’s most severe infectious diseases, including those that occur naturally, accidentally, or intentionally. Through partnerships with governments and public health agencies, we work to build a healthier and safer world by providing essential countermeasures against these global health threats. Our flagship product, TPOXX® (tecovirimat), is an antiviral medicine approved in the U.S. and Canada for the treatment of smallpox and authorized in Europe, the UK, and Japan for the treatment of smallpox, mpox (monkeypox), cowpox, and vaccinia complications. For more information about SIGA, visit www.siga.com.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements relating to SIGA’s future business development and plans including with respect to securing new contracts and the timing of delivery of ordered oral TPOXX courses. Forward-looking statements include statements regarding our future financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “may,” “continue,” “estimate,” “intend,” “plan,” “will,” “believe,” “project,” “expect,” “seek,” “anticipate,” “could,” “should,” “target,” “goal,” “potential” and similar expressions may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Such forward-looking statements are subject to various known and unknown risks and uncertainties, and SIGA cautions you that any forward-looking information provided by or on behalf of SIGA is not a guarantee of future performance. SIGA’s actual results could differ materially from those anticipated by such forward-looking statements due to a number of factors, some of which are beyond SIGA’s control, including, but not limited to, (i) the risk that BARDA elects, in its sole discretion as permitted under the 75A50118C00019 BARDA Contract (the “BARDA Contract”), not to exercise all, or any, of the remaining unexercised options under the BARDA Contract, (ii) the risk that SIGA may not complete performance under the BARDA Contract on schedule or in accordance with contractual terms, (iii) the risk that the BARDA Contract or U.S. Department of Defense contracts are modified or canceled at the request or requirement of, or SIGA is not able to enter into new contracts to supply TPOXX to, the U.S. Government, (iv) the risk that the nascent international biodefense market does not develop to a degree that allows SIGA to continue to successfully market TPOXX internationally, (v) the risk that potential products, including potential alternative uses or formulations of TPOXX that appear promising to SIGA or its collaborators, cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (vi) the risk that target timing for deliveries of product to customers, and the recognition of related revenues, are delayed or adversely impacted by the actions, or inaction, of contract manufacturing organizations, or other vendors, within the supply chain, or due to coordination activities between the customer and supply chain vendors, (vii) the risk that SIGA or its collaborators will not obtain appropriate or necessary governmental approvals to market these or other potential products or uses, (viii) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (ix) the risk that any challenge to SIGA’s patent and other property rights, if adversely determined, could affect SIGA’s business and, even if determined favorably, could be costly, (x) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or documentation that will delay or prevent SIGA from seeking or obtaining needed approvals to market these products, (xi) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts to develop or market its products, (xii) the risk that changes in domestic or foreign economic and market conditions may affect SIGA’s ability to advance its research or may affect its products adversely, (xiii) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses, (xiv) the risk of disruptions to SIGA’s supply chain for the manufacture of TPOXX®, causing delays in SIGA’s research and development activities, causing delays or the re-allocation of funding in connection with SIGA’s government contracts, or diverting the attention of government staff overseeing SIGA’s government contracts, (xv) risks associated with actions or uncertainties surrounding the debt ceiling or changes in the U.S. administration, and (xvi) the risk that the U.S. or foreign governments' responses (including inaction) to national or global economic conditions or infectious diseases, are ineffective and may adversely affect SIGA’s business, as well as the risks and uncertainties included in Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2024 and SIGA's subsequent filings with the Securities and Exchange Commission. SIGA urges investors and security holders to read those documents free of charge at the SEC's website at http://www.sec.gov. All such forward-looking statements are current only as of the date on which such statements were made. SIGA does not undertake any obligation to update publicly any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Contacts:
Suzanne Harnett
sharnett@siga.com
and
| Investors | Media |
| Jennifer Drew-Bear, Edison Group Jdrew-bear@edisongroup.com | Holly Stevens, CG Life hstevens@cglife.com |
| SIGA TECHNOLOGIES, INC. | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| As of | ||||||||
| December 31, 2024 | December 31, 2023 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 155,400,262 | $ | 150,145,844 | ||||
| Accounts receivable | 21,166,129 | 21,130,951 | ||||||
| Inventory | 49,563,880 | 64,218,337 | ||||||
| Prepaid expenses and other current assets | 4,914,613 | 3,496,028 | ||||||
| Total current assets | 231,044,884 | 238,991,160 | ||||||
| Property, plant and equipment, net | 1,298,423 | 1,331,708 | ||||||
| Deferred tax asset, net | 10,854,702 | 11,048,118 | ||||||
| Goodwill | 898,334 | 898,334 | ||||||
| Other assets | 240,683 | 2,083,535 | ||||||
| Total assets | $ | 244,337,026 | $ | 254,352,855 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 1,340,337 | $ | 1,456,316 | ||||
| Accrued expenses and other current liabilities | 5,640,110 | 10,181,810 | ||||||
| Deferred IV TPOXX® revenue | 10,330,800 | 20,788,720 | ||||||
| Income tax payable | 8,020,366 | 21,690,899 | ||||||
| Total current liabilities | 25,331,613 | 54,117,745 | ||||||
| Other liabilities | 3,200,650 | 3,376,203 | ||||||
| Total liabilities | 28,532,263 | 57,493,948 | ||||||
| Commitments and contingencies (Note 12) | ||||||||
| Stockholders' equity | ||||||||
| Common stock ($.0001 par value, 600,000,000 shares authorized, 71,404,669 and 71,091,616 issued and outstanding at December 31, 2024 and December 31, 2023, respectively) | 7,140 | 7,109 | ||||||
| Additional paid-in capital | 238,635,635 | 235,795,420 | ||||||
| Accumulated deficit | (22,838,012 | ) | (38,943,622 | ) | ||||
| Total stockholders' equity | 215,804,763 | 196,858,907 | ||||||
| Total liabilities and stockholders' equity | $ | 244,337,026 | $ | 254,352,855 | ||||
| SIGA TECHNOLOGIES, INC. | ||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||||
| For the Years Ended December 31 | ||||||||||||
| 2024 | 2023 | 2022 | ||||||||||
| Revenues | ||||||||||||
| Product sales and supportive services | $ | 133,330,181 | $ | 130,668,209 | $ | 86,661,583 | ||||||
| Research and development | 5,389,169 | 9,249,011 | 24,114,027 | |||||||||
| Total revenues | 138,719,350 | 139,917,220 | 110,775,610 | |||||||||
| Operating expenses | ||||||||||||
| Cost of sales and supportive services | 31,289,229 | 17,825,090 | 10,432,561 | |||||||||
| Selling, general and administrative | 25,136,050 | 22,043,023 | 35,117,241 | |||||||||
| Research and development | 12,310,797 | 16,427,942 | 22,525,642 | |||||||||
| Total operating expenses | 68,736,076 | 56,296,055 | 68,075,444 | |||||||||
| Operating income | 69,983,274 | 83,621,165 | 42,700,166 | |||||||||
| Gain from change in fair value of warrant liability | — | — | 400,663 | |||||||||
| Other income, net | 6,087,116 | 4,155,508 | 1,031,903 | |||||||||
| Income before income taxes | 76,070,390 | 87,776,673 | 44,132,732 | |||||||||
| Provision for income taxes | (16,856,174 | ) | (19,707,847 | ) | (10,227,926 | ) | ||||||
| Net and comprehensive income | $ | 59,214,216 | $ | 68,068,826 | $ | 33,904,806 | ||||||
| Basic earnings per share | $ | 0.83 | $ | 0.95 | $ | 0.46 | ||||||
| Diluted earnings per share | $ | 0.82 | $ | 0.95 | $ | 0.46 | ||||||
| Weighted average shares outstanding: basic | 71,253,172 | 71,362,209 | 72,929,550 | |||||||||
| Weighted average shares outstanding: diluted | 71,905,712 | 71,679,270 | 73,546,501 | |||||||||
FAQ
What were SIGA's total product sales and operating income for 2024?
How much TPOXX did SIGA sell to the U.S. Strategic National Stockpile in 2024?
What new markets did SIGA's TPOXX enter in 2024-2025?
What indications was TPOXX approved for in Japan?
How many countries have ordered TPOXX from SIGA in the past three years?
