Siga Technologies (NASDAQ:SIGA) Announces Quarterly Earnings Results

Siga Technologies (NASDAQ:SIGA) released its quarterly earnings results on Thursday. The company reported $0.17 earnings per share 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 Price Performance

Shares of NASDAQ:SIGA opened at $3.12 on Friday. The company has a market cap of $223.77 million, a price-to-earnings ratio of 11.56 and a beta of 0.97. The firm has a fifty day moving average price of $3.81 and a two-hundred day moving average price of $4.90. Siga Technologies has a one year low of $3.01 and a one year high of $9.62.

Institutional Trading of Siga Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC boosted its holdings in shares of Siga Technologies by 138.4% in the 1st quarter. Jane Street Group LLC now owns 114,147 shares of the company’s stock worth $626,000 after purchasing an additional 66,265 shares in the last quarter. Strs Ohio bought a new stake in shares of Siga Technologies in the 1st quarter valued at about $165,000. Russell Investments Group Ltd. raised its holdings in Siga Technologies by 57.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,637 shares of the company’s stock valued at $102,000 after buying an additional 5,712 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Siga Technologies by 5.5% during the second quarter. First Trust Advisors LP now owns 150,913 shares of the company’s stock valued at $984,000 after acquiring an additional 7,828 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Siga Technologies in the second quarter worth about $320,000. Hedge funds and other institutional investors own 55.40% of the company’s stock.

Wall Street Analyst Weigh In

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

Siga Technologies Company Profile

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.