Siga Technologies (NASDAQ:SIGA) Announces Earnings Results

Siga Technologies (NASDAQ:SIGA) released its quarterly earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, FiscalAI reports. Siga Technologies had a net margin of 21.58% and a return on equity of 10.60%. The company had revenue of $41.00 million for the quarter.

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 1.0%

Shares of NASDAQ:SIGA traded down $0.03 on Thursday, reaching $3.12. The company had a trading volume of 487,797 shares, compared to its average volume of 594,093. The firm has a market capitalization of $223.78 million, a PE ratio of 11.56 and a beta of 0.97. Siga Technologies has a 52-week low of $3.01 and a 52-week high of $9.62. The firm’s 50 day simple moving average is $3.85 and its 200-day simple moving average is $4.93.

Institutional Trading of Siga Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIGA. Farther Finance Advisors LLC grew its holdings in Siga Technologies by 418.1% in the fourth 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 during the period. BNP Paribas Financial Markets lifted its position in shares of Siga Technologies by 34.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,661 shares of the company’s stock valued at $30,000 after buying an additional 1,184 shares in the last quarter. CWM LLC grew its stake in Siga Technologies by 148.6% in the 4th 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 increased its holdings in Siga Technologies by 116.6% in the 2nd 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 in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Siga Technologies by 47.0% in the 4th quarter. Parallel Advisors LLC now owns 7,969 shares of the company’s stock worth $49,000 after acquiring an additional 2,549 shares in the last quarter. Institutional investors and hedge funds own 55.40% of the company’s stock.

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 report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

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.