SIGA on Nasdaq

SIGA TECHNOLOGIES INC

In its 2026 annual report the company says: “We are a commercial-stage pharmaceutical company. The Company sells its lead product, TPOXX® (“oral TPOXX®,” also known as "tecovirimat," "Tecovirimat-SIGA," or "TEPOXX (tecovirimat)" in certain international markets), to the U.S. Government and international governments (including government affiliated entities). The Company has been delivering oral TPOXX® to the U.S. Strategic National Stockpile since 2013.”3 It is headquartered in New York, New York.1

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Last updated Oct 21, 2026.

Overview

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  • TickerSIGA on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address31 East 62Nd Street, New York, Ny 100652
  • Filer categoryAccelerated filer2

We are a commercial-stage pharmaceutical company. The Company sells its lead product, TPOXX® (“oral TPOXX®,” also known as "tecovirimat," "Tecovirimat-SIGA," or "TEPOXX (tecovirimat)" in certain international markets), to the U.S. Government and international governments (including government affiliated entities). In certain international markets, the Company may sell TPOXX® through a distributor. Additionally, the Company sells the intravenous formulation of TPOXX® ("IV TPOXX®") to the U.S. Government.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

25.1%Operating margin4
24.6%Net margin4
-31.8%Revenue growth, 20254
11.7%Return on equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product sales and supportive services brought in 93% of the revenue SIGA TECHNOLOGIES INC broke down this way in fiscal 2025.

  1. Product sales and supportive services$88.0M493%down 34% from 2024
  2. Research And Development$6.5M47%up 21% from 2024
Products and services by year
Products and services202320242025
Product sales and supportive services$130.7M$133.3M$88.0M
Research And Development$9.2M$5.4M$6.5M

Regions

United States brought in 88% of the revenue SIGA TECHNOLOGIES INC broke down this way in fiscal 2025.

  1. United States$88.8M488%down 23% from 2024
  2. CA [member]$5.8M46%up 689% from 2024
  3. Rest of the world$5.8M46%down 75% from 2024
Regions by year
Regions202320242025
United States$118.7M$115.7M$88.8M
CA [member]$0$737.7K$5.8M
Rest of the world$21.3M$23.0M$5.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue29¢$29.7M
  • Research and development20¢$20.0M
  • Selling, general and admin21¢$21.2M
  • Income tax7¢$7.1M
  • Profit23¢$23.3M

Out of $94.6M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid99¢$43.1M
  • Kept or used elsewhere1¢$354.9K

Out of $43.5M of cash from operations.4

Financial statements

Revenue56784$94.6M in 2025+254% since 2019
0$50.0M$100.0M$150.0M2019: $26.7M$26.7M20192020: $125.0M$125.0M2020+367%2021: $133.7M$133.7M2021+7%2022: $110.8M$110.8M2022−17%2023: $139.9M$139.9M2023+26%2024: $138.7M$138.7M2024−1%2025: $94.6M$94.6M2025−32%
Operating income56784$23.7M in 2025
-$25.0M0$25.0M$50.0M$75.0M$100.0M2019: -$2.3M-$2.3M20192020: $84.5M$84.5M20202021: $89.1M$89.1M2021+5%2022: $42.7M$42.7M2022−52%2023: $83.6M$83.6M2023+96%2024: $70.0M$70.0M2024−16%2025: $23.7M$23.7M2025−66%
Net income56784$23.3M in 2025
-$20.0M0$20.0M$40.0M$60.0M$80.0M2019: -$7.2M-$7.2M20192020: $56.3M$56.3M20202021: $69.5M$69.5M2021+23%2022: $33.9M$33.9M2022−51%2023: $68.1M$68.1M2023+101%2024: $59.2M$59.2M2024−13%2025: $23.3M$23.3M2025−61%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
RevenueFromContractWithCustomerExcludingAssessedTax$94.6M$138.7M$139.9M
CostOfGoodsAndServicesSold$29.7M$31.3M$17.8M
SellingGeneralAndAdministrativeExpense$21.2M$25.1M$22.0M
ResearchAndDevelopmentExpense$20.0M$12.3M$16.4M
CostsAndExpenses$70.9M$68.7M$56.3M
OperatingIncomeLoss$23.7M$70.0M$83.6M
NonoperatingIncomeExpense$6.7M$6.1M$4.2M
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest$30.4M$76.1M$87.8M
IncomeTaxExpenseBenefit-$7.1M-$16.9M-$19.7M
NetIncomeLoss$23.3M$59.2M$68.1M
EarningsPerShareBasic$0.33$0.83$0.95
EarningsPerShareDiluted$0.32$0.82$0.95
WeightedAverageNumberOfSharesOutstandingBasic71.5M shares71.3M shares71.4M shares
WeightedAverageNumberOfDilutedSharesOutstanding71.9M shares71.9M shares71.7M shares

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Corporate structure

SIGA TECHNOLOGIES INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of SIGA TECHNOLOGIES INC

  • BlackRock Filed SCHEDULE 13G/A on SIGA TECHNOLOGIES INC, latest Apr 25, 2025 (5 filings since Feb 1, 2022)
  • John Latane Lewis Iv. Filed SC 13G on SIGA TECHNOLOGIES INC, latest Feb 1, 2024
  • D. E. SHAW & CO, L.P. Filed SC 13G/A on SIGA TECHNOLOGIES INC, latest Feb 14, 2023 (2 filings since Jun 24, 2022)
  • ESOPUS CREEK VALUE SERIES FUND LP - SERIES A Filed SC 13D/A on SIGA TECHNOLOGIES INC, latest Nov 22, 2021
  • SIGA TECHNOLOGIES INC New York, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What SIGA TECHNOLOGIES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$7.6M4 Dec 31, 2025$7.4M4 Dec 31, 2024+3.8%
Accumulated depreciation$6.5M4 Dec 31, 2025$6.1M4 Dec 31, 2024+8.0%
Property and equipment, net$1.1M4 Dec 31, 2025$1.3M4 Dec 31, 2024−16.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$155.0M4 Dec 31, 2025$155.4M4 Dec 31, 2024−0.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$898.3K4 Dec 31, 2025$898.3K4 Dec 31, 20240%

Inventory

ItemLatestA year beforeChange
Inventory, total$49.1M4 Dec 31, 2025$49.6M4 Dec 31, 2024−1.0%
Raw materials$1.0M4 Dec 31, 2025$134.5K4 Dec 31, 2024+655.0%
Work in process$41.2M4 Dec 31, 2025$40.4M4 Dec 31, 2024+2.0%
Finished goods$6.8M4 Dec 31, 2025$9.0M4 Dec 31, 2024−24.5%

Properties, in its own words

Our offices are located in New York, NY, and Corvallis, Oregon. In May 2017, we entered into a new 10-year lease with a related party to let 3,200 square feet in New York, NY to serve as our corporate headquarters. For more information about the lease, see Note 13. Related Party Transactions, to the consolidated financial statements.

In Corvallis, we lease approximately 10,276 square feet. Until its expiration on December 31, 2017, this facility was leased under an amended lease agreement signed in January 2007, and most recently changed through an addendum in April 2015. On November 3, 2017, we entered into a new lease for the same space which was scheduled to expire in December 2019. In the second quarter of 2019, we exercised the first renewal option which was scheduled to expire in December 2021. In the second quarter of 2021, we exercised the second renewal option, which extended the lease expiration date to December 31, 2024. In the second quarter of 2024, we entered into an additional addendum, which extended the lease expiration date to December 31, 2026.

Item 2 of the 10-K filed Mar 10, 2026.3

Leadership

Who has led SIGA TECHNOLOGIES INC, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (31)

Former names

  • SIGA PHARMACEUTICALS INCMar 10, 1997 to May 25, 20002

Timeline

  1. Aug 6, 20268-K Results of operations50
  2. Jun 10, 20268-K Executive or director change; Shareholder vote51
  3. May 7, 20268-K Results of operations52
  4. Mar 26, 20268-K Other events53
  5. Mar 10, 20268-K Results of operations54
  6. Nov 6, 20258-K Results of operations55
  7. Aug 5, 20258-K Results of operations56
  8. Jun 12, 20258-K Bylaws or fiscal year changed; Shareholder vote57
  9. May 8, 20258-K Results of operations58
  10. Apr 8, 20258-K Other events59
  11. Mar 18, 20258-K Executive or director change60
  12. Mar 11, 20258-K Results of operations61
  13. Jan 30, 2024New chief executive Diem Nguyen becomes CEO13
  14. Oct 24, 2016New chief executive Phillip Louis Gomez Iii. becomes CEO14
  15. Jul 30, 2007New chief executive Eric A. Rose Md. becomes CEO15

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/202662

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results50
  2. May 7, 2026Reported quarterly or annual results52
  3. Mar 10, 2026Reported quarterly or annual results54
  4. Nov 6, 2025Reported quarterly or annual results55
  5. Aug 5, 2025Reported quarterly or annual results56
  6. May 8, 2025Reported quarterly or annual results58
  7. Mar 11, 2025Reported quarterly or annual results61
  8. Nov 7, 2024Reported quarterly or annual results63

Drug trials and FDA: coming up

  1. Jan 1, 2027Phase 2 trial readout expected Phase 2 trial of Tecovirimat and Smallpox and Mpox Vaccine in Smallpox: primary completion expected Jan 1, 2027 (ClinicalTrials.gov NCT04957485).64

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

164 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 49 major events, 70 insider forms, 9 large holders, 16 other. The latest 20:

  1. Aug 6, 202610-Q EDGAR
  2. Aug 6, 20268-K EDGAR
  3. Jun 25, 2026S-8 EDGAR
  4. Jun 10, 20264 EDGAR
  5. Jun 10, 20264 EDGAR
  6. Jun 10, 20264 EDGAR
  7. Jun 10, 20264 EDGAR
  8. Jun 10, 20264 EDGAR
  9. Jun 10, 20264 EDGAR
  10. Jun 10, 20264 EDGAR
  11. Jun 10, 20268-K EDGAR
  12. May 8, 2026DEFA14A EDGAR
  13. May 7, 202610-Q EDGAR
  14. May 7, 20268-K EDGAR
  15. Apr 28, 2026ARS EDGAR
  16. Apr 28, 2026DEFA14A EDGAR
  17. Apr 28, 2026DEF 14A EDGAR
  18. Mar 26, 20264 EDGAR
  19. Mar 26, 20268-K EDGAR
  20. Mar 17, 20264 EDGAR

The 164 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 9, 2021Antal JamesDirectorSale30,000$7.82$234.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Diem Nguyen, Ph.D.Chief Executive Officer and Director54$927.0K$3.2M69
2025Daniel J. LuckshireExecutive Vice President and Chief Financial Officer55$752.3K$1.6M69
2025Dennis E. Hruby, Ph.D.Executive Vice President and Chief Scientific Officer74$748.5K$1.6M69
2025Larry MillerGeneral Counsel and Corporate Secretary58$695.2K$1.5M69
2024Diem Nguyen, Ph.D.Chief Executive Officer and Director54$835.4K$4.4M69
2024Larry MillerGeneral Counsel and Corporate Secretary58$520.3K$2.2M69
2024Daniel J. LuckshireExecutive Vice President and Chief Financial Officer55$730.3K$1.5M69
2024Dennis E. Hruby, Ph.D.Executive Vice President and Chief Scientific Officer74$726.7K$1.5M69
2023Dennis E. Hruby, Ph.D.Executive Vice President and Chief Scientific Officer74$705.6K$1.8M69
2023Daniel J. LuckshireExecutive Vice President and Chief Financial Officer55$709.1K$1.7M69

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.2B 2008–2026
Without federal contracts$16.5M 2008–2015
Figures by year
YearFederal grantsFederal contractsTotal
2026–$2.1M$2.1M
2025–$53.1M$53.1M
2024–$122.6M$122.6M
2023–$143.7M$143.7M
2022–$42.1M$42.1M
2021–$112.6M$112.6M
2020–$101.3M$101.3M
2019–$28.0M$28.0M
2018–$97.2M$97.2M
2017–$10.1M$10.1M
2016–$9.3M$9.3M
2015$1.2M$2.1M$3.3M
2014$1.2M–$1.2M
2013$2.5M–$2.5M
2012$2.7M$31.1M$33.8M
2011$4.2M$447.7M$451.9M
2010$1.5M$2.8M$4.3M
2009$2.7M$5.0M$7.7M
2008$404.5K$21.1M$21.5M

Federal awards

Obligated amounts from USAspending.gov70, by calendar year, 2008–2026, for its registration. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest grants

  1. May 3, 2011$5.8M from National Institutes of Health: Allergy And Infectious Diseases Research; Allergy, Immunology And Transplantation Research71 To SIGA TECHNOLOGIES, INC. Award R01AI093356
  2. Aug 1, 2007$3.0M from National Institutes of Health: Allergy, Immunology And Transplantation Research72 To SIGA TECHNOLOGIES, INC. Award R44AI075747
  3. Sep 23, 2009$1.7M from National Institutes of Health: Trans-Nih Recovery Act Research Support73 To SIGA TECHNOLOGIES, INC. Award U01AI082108
  4. Aug 18, 2008$963.7K from National Institutes of Health: Allergy, Immunology And Transplantation Research74 To SIGA TECHNOLOGIES, INC. Award R43AI079937

Largest contracts

  1. Sep 10, 2018$626.5M from Office of Assistant Secretary for Preparedness and Response: Procurement and late-stage development of smallpox antiviral drug(s) igf::ot::igf75 To SIGA TECHNOLOGIES, INC. Award 75A50118C00019
  2. May 13, 2011$518.5M from Office of Assistant Secretary for Preparedness and Response: Drugs and biologicals76 To SIGA TECHNOLOGIES, INC. Award HHSO100201100001C
  3. Sep 1, 2008$39.3M from Office of Assistant Secretary for Preparedness and Response: Contract award hhsn272200800041c under baa nih-niaid-dmid-08-2077 To SIGA TECHNOLOGIES, INC. Award HHSN272200800041C
  4. Sep 26, 2006$29.0M from National Institutes of Health: R&d-other svc & develop-adv dev78 To SIGA TECHNOLOGIES, INC. Award HHSN266200600014C
  5. Sep 28, 2022$11.8M from Department of the Army: Procure up to 23000 tpoxx courses for small pox treatment.79 To SIGA TECHNOLOGIES, INC. Award W911SR22C0051

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,186,282$15.2M0.0%+692,089
Dimensional Fund Advisors LP2,719,568$9.9M0.0%+16,844
AltraVue Capital, LLC2,327,144$8.5M0.6%−104,880
Vanguard Capital Management LLC1,712,701$6.2M0.0%−1,679
American Century Companies Inc1,506,065$5.5M0.0%+188,281
Arrowstreet Capital, Limited Partnership1,474,817$5.4M0.0%−51,143
Geode Capital Management, LLC1,417,092$5.2M0.0%+101,547
First Wilshire Securities Management Inc1,339,883$4.9M1.0%+449,385
Aqr Capital Management LLC1,245,992$4.5M0.0%+26,315
State Street Corp1,133,989$4.1M0.0%+122,051
Hotchkis & Wiley Capital Management LLC914,047$3.3M0.0%+87,000
Qube Research & Technologies Ltd740,910$2.7M0.0%+325,806
New York State Common Retirement Fund590,761$2.2M0.0%No change
Millennium Management LLC579,599$2.1M0.0%+113,275
Jacobs Levy Equity Management, Inc566,863$2.1M0.0%+275,017
Uniplan Investment Counsel, Inc.560,353$2.0M0.2%+188,940
Citadel Advisors LLC551,246$2.0M0.0%−153,891
Royce & Associates LP551,010$2.0M0.0%−116,636
Vanguard Portfolio Management LLC549,697$2.0M0.0%−37,277
Legato Capital Management LLC512,039$1.9M0.2%No change
Bank Of America Corp /de/427,275$1.6M0.0%−57,397
Renaissance Technologies LLC425,800$1.5M0.0%−49,213
Morgan Stanley421,009$1.5M0.0%+157,674
Denali Advisors LLC414,436$1.5M0.2%−22,451
Goldman Sachs Group Inc393,007$1.4M0.0%−231,896

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How SIGA TECHNOLOGIES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSIGA TECHNOLOGIES INC1
  • CIK0001010086
  • Employer ID (EIN)13-38648703
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address31 East 62Nd Street, New York, NY 100651
  • Phone212-672-91001
  • Shares outstanding71,849,716 as of Jul 24, 202610
  • Public float$302.2M as of Jun 30, 20253
  • AuditorPricewaterhouseCoopers LLP, Florham Park, New Jersey PCAOB ID 238; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceMar 10, 19971
  • Filings1,112 in all: 4 (449), 8-K (218), 10-Q (72), 3 (40), SC 13G/A (37), SC 13D/A (31), DEF 14A (30), SC 13G (28)1
    All 51 form types

    10-K (24), 424B3 (18), UPLOAD (17), 10QSB (15), CORRESP (15), S-3 (13), CT ORDER (10), S-3/A (9), S-8 (7), 4/A (6), PRE 14A (6), SC 13D (6), DEFA14A (5), PRER14A (5), 10-Q/A (4), 10KSB (4), 8-K/A (4), ARS (4), EFFECT (4), S-1/A (4), SB-2/A (3), 10-K/A (2), SEC STAFF LETTER (2), 10KSB/A (1), 10KSB40 (1), 10KSB40/A (1), 10QSB/A (1), 25-NSE (1), 424B1 (1), 424B2 (1), 8-A12B (1), 8-A12G (1), CERT (1), FWP (1), NT 10-K (1), NT 10-Q (1), POS AM (1), PREM14A (1), S-1 (1), SB-2 (1), SB-2MEF (1), SC 14F1 (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Mar 10, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 28, 2026
    Latest 8-K (8-K) Aug 6, 2026

Securities registered for trading

ClassSymbolExchange
common stock, $.0001 par valueSIGANasdaq

From the cover page of the 10-K filed Mar 10, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks SIGA TECHNOLOGIES INC names in Item 1A of its 10-K filed Mar 10, 2026: 37 risks under these headings, as written.3

  • Risks Related to Our Dependence on Government Contracts
  • We expect a substantial percentage of our future operating revenues to come from contracts with the U.S. Government for the provision and maintenance of the stockpile of TPOXX® built under the 19C BARDA Contract. If the U.S. Government does not enter into such a contract, or if such contract is materially delayed or smaller than the 19C BARDA Contract, our long-term business, financial condition and operating results could be materially harmed.
  • Government contracts require ongoing funding decisions by governments. A substantial percentage of our potential future revenues are expected to come from government contracts. The majority of potential revenue under any future U.S. Government contract will likely be tied to options that may or may not be exercised at the sole discretion of the U.S. Government. Failure of the U.S. Government to exercise its options under a new procurement contract to supply TPOXX® to the U.S. Government could cause our business, financial condition, results of operations and prospects to be materially harmed.
  • Government procurement contracts are mostly set at fixed prices determined at inception of the contract based on estimates of the time, resources and expenses required to perform these contracts. If our estimates are not accurate, we may not be able to earn an adequate return or may incur a loss under these arrangements.
  • Laws and regulations affecting government contracts and grants might make it more costly and difficult for us to successfully conduct our business.
  • Unfavorable provisions in government contracts and grants, some of which may be customary, may harm our future business, financial condition and potential operating results.
  • A U.S. Government shutdown could materially adversely affect our business, results of operations, and financial condition.
  • Our business could be adversely affected by a negative audit by the U.S. Government.
  • Risks Related to Regulatory Approvals
  • If we are not able to obtain regulatory approvals for certain additional indications of TPOXX® from the FDA, we may not be able to realize the full benefits of any U.S. Government contracts or may not be able to commercialize such indications other than through existing sales to the U.S. Government, and our ability to generate future revenue could be materially impaired.
  • Failure to obtain regulatory approval for new formulations of TPOXX® in the U.S. would prevent us from commercializing TPOXX® in other than the oral and intravenous formulations for smallpox treatment.
  • Failure to maintain existing regulatory approvals or obtain future regulatory approvals in additional international jurisdictions could prevent us from marketing our products in certain jurisdictions abroad.
The other 27 risks
  • Risks Related to Commercial and International Activities
  • Changing political or social factors and opposition, such as protests and potential related litigation, may delay or impair our ability to market TPOXX® and any other biodefense product candidates and may require us to spend time and money to address these issues.
  • Our ability to grow our business partly depends on our ability to achieve recurring sales of TPOXX® to customers other than the U.S. Government, which may increase our exposure to risks associated with conducting business in international markets.
  • We reacquired international promotional rights and we may be unable successfully to expand our internal international sales and marketing capabilities or enter into agreements with third parties outside of the U.S.
  • For contracts with international customers that were originated by Meridian in prior years and remain active, we are reliant on Meridian to collect payments from such customers, and to remit to us our share of such payments.
  • Although TPOXX® is currently stockpiled by certain governments and not sold commercially, in the future we may be required to perform additional clinical trials or change the labeling of TPOXX® if we or others identify side effects after a product is on the market, which could harm future sales of such product.
  • We are subject to complex and changing laws and regulations worldwide, which exposes us to potential liability, increased cost, and other adverse effects on our business.
  • We have incurred in the past, and could incur net losses in the future, including if we fail to enter into a new procurement contract with the U.S. Government.
  • Risks Related to Manufacturing, Storage and Our Dependence on Third Parties
  • We currently rely on third parties for manufacturing and raw materials of TPOXX® and for managing our inventory. If these third parties do not perform as contractually required or as we expect, and we are unable to find an alternative third party to provide these services, we may not be able to successfully satisfy our obligations under any contracts, including the 19C BARDA Contract and any future U.S. Government procurement contract, and our business would suffer.
  • If third parties on whom we rely for packaging and delivery of our products, are unable to meet the target timing for deliveries to our customers, product revenue recognition may be delayed and our business could suffer.
  • If third parties do not manufacture our drug candidates or products in sufficient quantities and at an acceptable cost or in compliance with regulatory or contractual requirements and specifications, the fulfillment of contractual requirements under the 19C BARDA Contract, or any other procurement contract, or the development of our drug candidates could be delayed, prevented or impaired.
  • Problems related to large-scale commercial manufacturing could cause an increase in costs or shortages of products or a delay in product launches.
  • Risks Related to Product Development
  • Growth of our business may be impacted significantly by our success in completing development and commercialization of drug candidates, new formulations or additional indications for TPOXX®. If we are unable to commercialize new drug candidates, new formulations, or additional indications, or experience significant delays in doing so, our business may be materially harmed.
  • We may not be able to fully commercialize the liquid suspension/pediatric formulation of TPOXX®, or additional indications for TPOXX®, if our clinical trials do not demonstrate adequate safety or our animal studies do not demonstrate adequate efficacy.
  • Liquid Suspension/Pediatric TPOXX® formulations are currently in product development and there can be no assurance of successful development or ultimate commercialization.
  • Risks Related to Our Intellectual Property
  • Our ability to compete may decrease if we do not adequately protect our intellectual property rights.
  • If our technologies are alleged or found to infringe the patents or proprietary rights of others, we may be sued, we may have to pay damages or be barred from pursuing a technology, or we may have to license those rights from and pay royalties to others on unfavorable terms. If we are sued, even if we prevail, such litigation may be costly.
  • Risks Related to Our Common Stock
  • Affiliates of MacAndrews & Forbes Incorporated (together with its affiliates “MacAndrews”) have substantial ownership of SIGA stock and their interests may differ from the interests of other stockholders.
  • A future issuance of preferred stock may adversely affect the rights of the holders of our common stock.
  • General Risk Factors
  • Global infectious disease outbreaks, such as the COVID-19 pandemic, or climate-related matters could negatively impact the global economy on a broad scale and our business in particular.
  • Future acquisitions, strategic investments, partnerships or alliances could be difficult to identify and integrate, divert the attention of management, disrupt our business, dilute stockholder value, materially change the risk profile of the Company and/or adversely affect our operating results and financial condition.
  • The health security markets in which we compete and will compete are highly competitive.
  • Product liability lawsuits could cause us to incur liabilities, which could be substantial, and require us to limit commercialization of any products that we may develop.
  • Our activities may involve hazardous materials, use of which may subject us to environmental regulatory liabilities.
  • The loss of key personnel or our ability to recruit or retain qualified personnel could adversely affect our results of operations.
  • Our business and operations would suffer in the event of a significant computer system failure, cyber-attack or deficiency in our cyber-security.
  • We may need additional funding, which may not be available to us, and which may force us to delay, reduce or limit proposed acquisitions or strategic investments or any of our non-government funded product development programs or commercial efforts.
  • The cash and cash equivalents that we use to meet our cash needs, including working capital and operating expenses, are held in deposit or investment accounts at four financial institutions. If one or multiple financial institutions fail, our deposit or investment accounts could be adversely affected due to the loss of or delay in obtaining access to all or a portion of our uninsured funds.

Legal proceedings

From time to time, we may be involved in a variety of claims, suits, investigations and proceedings arising from the ordinary course of our business, collections claims, breach of contract claims, labor and employment claims, tax and other matters. Although such claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty, we believe that the resolution of such current pending matters, if any, will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flow. Regardless of the outcome, litigation can have an adverse impact on us because of legal costs, diversion of management resources and other factors.

The opening of Item 3, Legal Proceedings.3

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