SIGA

Image source: The Motley Fool. Thu., Aug. 6, 2026 at 4:30 p.m. ET Chief Executive Officer - Diem Nguyen Chief Financial Officer - Daniel Luckshire Operator: Welcome to SIGA Business Update Call. Before we turn the call over to SIGA management, please note that any forward-looking statements made during this call are based on management's current expectations and observations and are subject to risks and uncertainties that could cause actual results to differ from the forward-looking statements. SIGA does not undertake any obligation to update publicly any forward-looking statements to reflect events or changed circumstances after this call. For a discussion of factors that could cause results to differ, please see the company's filings with the Securities and Exchange Commission, including, without limitation, the company's annual report on Form 10-K for the year ended December 31, 2025, and its subsequent reports on Form 10-Q and Form 8-K. With that, I will turn the call over to Diem Nguyen, Chief Executive Officer of SIGA. Please go ahead. Diem Nguyen: Good afternoon, everyone, and thank you for joining today's call and review of our business results. I'm joined by Dan Luckshire, our Chief Financial Officer, and we appreciate this opportunity to provide an update on our company. After the update, we'll be happy to answer your questions. I am pleased to report that SIGA continues to make product deliveries and generate revenues while navigating an evolving and dynamic global environment. Despite the external challenges, our focus has not wavered. We continue to engage and partner with governments to build and strengthen long-term preparedness against potential biological threats, namely smallpox. We serve many countries with our smallpox antiviral treatment, and we remain committed to positioning TPOXX for rapid large-scale deployment the moment an outbreak demands it. The threat of smallpox is real and preparedness requires proactive sustained government investment in medical countermeasure stockpiles. We're proud of the role we play in those efforts. Turning now to our results. As I've said before, our business carries inherent quarter-to-quarter variability, so our results are best understood in the context of our longer horizon rather than any single period. With that backdrop, I'm pleased to share that for the second quarter of 2026, we recorded product-related revenues of $38 million, mostly comprised of $24 million of IV TPOXX delivered to the U.S. Strategic National Stockpile and $13 million of oral TPOXX delivered to two international customers, one in the Asia Pacific region and one in Europe. This diversification across multiple formulations and customers demonstrate the enduring need for governments to protect against biological threats. Turning to the U.S. This quarter's IV TPOXX delivery marks the fulfillment of the final product order under our 19C contract. Since 2018, we successfully delivered on all our product obligations under the agreement, and we're proud of our performance and what it represents. We look forward to building on our more than a decade-long partnership with the U.S. government. This track record highlights the historical strength of SIGA's business model and the important long-term role TPOXX has played in the government smallpox preparedness. We continue to actively engage with the U.S. government across multiple levels on a new multiyear procurement contract. Further, we are encouraged by the recent Senate Health Committee hearings and vote regarding the President's nominee for the role of Assistant Secretary for Preparedness and Response. I will say that while progress toward a new contract has been slower than in the past, we continue to believe the case for smallpox preparedness remains strong. Moreover, we believe the U.S. government's ongoing funding of TPOXX development programs, together with TPOXX orders that were recently filled reflect a continuing role for TPOXX in the national smallpox preparedness. Shifting to our international business, we continue to engage with governments and key stakeholders as they assess their preparedness strategies. Government procurement is, by nature, a complex process, but the direction of these discussions reinforces our view that there are opportunities for additional international sales. As noted last quarter, we received a $13 million order from a country in the Asia Pacific region, which we delivered in the second quarter. Additionally, we delivered a small number of oral TPOXX courses to a new customer in Europe in the second quarter. As a reminder, we recently entered into an exclusive license and distribution agreement with Hikma MENA FZE in connection with the MENA region which includes countries in the Middle East and North Africa. Since then, we've been meeting regularly with Hikma to develop a detailed plan to expand TPOXX footprint across MENA, a region where SIGA has historically been underrepresented. Under the agreement, Hikma holds the right to register and commercialize TPOXX across MENA and SIGA serves as the exclusive manufacturer and supplier of finished product. Hikma's regional presence and expertise in bringing innovative medicines to market make them the right partner to expand access to TPOXX in these markets. Turning to our pipeline. We continue to advance our post-exposure prophylaxis or PEP and pediatric programs. On the PEP program, the CDC is advancing its work on the immunogenicity samples, and we are targeting an FDA submission in the first half of 2027. On the pediatric program, our Phase I study results are expected by year-end, which will determine the next steps. Children will be among the most vulnerable in the smallpox outbreak and a purpose-built liquid gives clinicians a reliable weight-based way to treat them. Together with oral and IV formulations, it extends coverage across the full population from infants to adults. In short, we are focused on what has always driven SIGA, financial and operational discipline and the partnerships that position us for the long-term success. As 2026 progresses, we believe the case for preparedness has never been clearer and neither has our purpose. Smallpox and other high-consequence viruses are a serious threat, but they are threats that we can manage with preparation. We believe TPOXX is uniquely suited to meet the smallpox threat. With that, I'll turn it over to Dan to review the financial results in more detail. Dan? Daniel Luckshire: Thanks, Diem. As noted earlier in the call, the company had product-related revenues of $38 million in the second quarter, following the first quarter in which there were minimal product revenues, reflecting the variable rhythm of SIGA's business model. Product revenues for this quarter include approximately $24 million of IV TPOXX deliveries to the SNS and approximately $13 million of international sales to two international customers. The $24 million of IV TPOXX deliveries represent the completion of an order received in 2025 under the 19C contract. The $13 million of international sales is mostly attributable to an order received earlier this year from a customer in the Asia Pacific region. For the 6 months ended June 30, 2026, product-related revenues are $41 million, mostly driven by activity in the second quarter. In addition to product-related revenues for the 3 and 6 months ended June 30, 2026, the company also had research and development revenues of approximately $3 million and $6 million, respectively, during those periods. Pretax operating income for the quarter, which excludes interest income and taxes, is approximately $14 million. For the 6 months ended June 30, 2026, pretax operating income is approximately $9 million. Net income for the quarter is approximately $12 million. For the 6 months ended June 30, 2026, net income is $9 million. In turn, fully diluted income per share for the quarter is $0.17 per share, while fully diluted income per share for the 6 months ended June 30, 2026, is $0.13 per share. The company continues to maintain a strong balance sheet. As of June 30, 2026, the company had a cash balance of approximately $118 million and no debt. This concludes the financial update. At this point, I will turn the call back to Diem. Diem Nguyen: Thank you, Dan. With that, we would like to open the call for questions. Operator: [Operator Instructions] First, we will hear from Jyoti Prakash at Edison Group. Jyoti Prakash: Congratulations on the strong quarter. So my first question is related to the U.S. RFP. Now the process has been slower than expected. What do you believe is the reason for this delay? And do you still think that an award in the second half of the year is possible? And will that be timely enough to support TPOXX deliveries in 2027? Diem Nguyen: Jyoti, it's nice to hear your voice. Just as a starting point, every new contract process is unique and different. And so there's inherent variability in the terms of timing and process. You're correct that this process has certainly taken longer than generally expected. We believe the scale of change within HHS, including new initiatives, evolving priorities, transition of our contract from BARDA to SNS and also key open leadership positions have been a meaningful contributor to the slower pace toward this new contract. Based on the continuing funding of multiple initiatives at SIGA by BARDA and the recent delivery of the IV TPOXX to the SNS, we remain confident in TPOXX's role within the U.S. government's smallpox preparedness strategy. It's a real threat that the CDC still classifies as a Category A threat. Jyoti Prakash: And then just a follow-up on that. So since the RFP has been delayed and there is some uncertainty on the timing, are you placing greater strategic emphasis on international markets? And we could see that from the recent Hikma agreement and the $13 million international order, which was delivered this quarter. So do you expect any additional international orders within this year? Diem Nguyen: Thanks, Jyoti. As you would expect, SIGA always has and will continue to focus on all of our customers, whether it's domestic or international. And given the broader geopolitical environment, we're seeing many governments sharpen their focus on biodefense as well as medical countermeasure preparedness. The international procurement decisions are quite complex in nature. As such, we will not comment on specific outcomes at this stage. But what I can say and share is without getting into details, discussions with the international customer have been progressing to the point that we're targeting a new contract as well as an order against it and targeting hopefully a delivery in that order by March of the next year. Jyoti Prakash: Great. That's quite helpful. And just staying on the international business. Your promotion agreement with Meridian recently expired. Has it been renewed or replaced? And if not, how is SIGA now going to manage the promotion and customer relations across Meridian's former territories? Diem Nguyen: Yes. Jyoti, as I shared, we're focused on all of our customers. And since 2024, SIGA has handled and been responsible for the sales, marketing, distribution and manufacturing of TPOXX in all of our international markets. even though the Meridian agreement didn't officially expire until May. So from your perspective and everyone else's perspective, nothing has changed on our end. We continue running these functions as we have been. And as with the case of recent international orders, activities and new partnerships, the international business continues to move forward without interruption. Jyoti Prakash: That's great. Thank you so much, Diem, and that's all from my side. Appreciate your time and I look forward to further updates in the next quarters. Thank you so much. Operator: [Operator Instructions] And at this time, we have no other questions registered. So I will turn the call back over to Diem. Diem Nguyen: Thanks, Sylvie. I'd like to thank everybody for making time to join us on today's call and for your ongoing interest in SIGA. We look forward to speaking to you again in our third quarter call. Have a good evening. Operator: Thank you. Ladies and gentlemen, this does indeed conclude your conference call for today. Once again, thank you for attending. And at this time, we do ask that you please disconnect your lines. Before you buy stock in SIGA Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SIGA Technologies wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $400,209!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,375,393!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 13, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. SIGA (SIGA) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance attribution for the quarter was driven by the successful delivery of $24 million in IV TPOXX to the U.S. Strategic National Stockpile and $13 million to international customers. The company completed all product obligations under the long-standing 19C contract, marking a transition point as they negotiate a new multi-year procurement agreement with the U.S. government. Management attributes the slower-than-expected pace of U.S. contract negotiations to structural changes within HHS, including the transition of contract management from BARDA to the SNS and vacant leadership positions. Strategic positioning is being bolstered by a new partnership with Hikma MENA FZE to register and commercialize TPOXX in the historically underrepresented Middle East and North Africa regions. The business model remains characterized by inherent quarter-to-quarter variability, requiring a long-term horizon to accurately assess financial performance and stockpile replenishment cycles. Management maintains that the case for smallpox preparedness remains strong globally, citing the CDC's continued classification of the virus as a Category A threat. Management is targeting an FDA submission for the post-exposure prophylaxis (PEP) program in the first half of 2027, contingent on CDC immunogenicity sample processing. Phase I study results for the pediatric liquid formulation are expected by year-end 2026, which will dictate the clinical path for weight-based treatment options. The company is actively pursuing a new international contract with the goal of securing an order and completing delivery by March 2027. Future U.S. revenue remains dependent on the timing of a new multi-year procurement contract, though ongoing BARDA funding for development programs signals continued government commitment. The partnership with Hikma is expected to expand the TPOXX footprint through a model where SIGA remains the exclusive manufacturer while Hikma handles regional registration. The promotion agreement with Meridian officially expired in May 2026, with SIGA having already internalized sales, marketing, and distribution functions since 2024 to ensure continuity. The company maintains a debt-free balance sheet with $118 million in cash, providing a buffer against the variable rhythm of government procurement cycles. Management flagged the 'complex nature' of international procurement as a factor that makes specific outcome predictions difficult despite progressing discussions. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management cited a 'scale of change' within HHS, including evolving priorities and the transition of the contract to the SNS, as the primary reasons for the slower pace. Despite delays, confidence remains high due to continued IV TPOXX deliveries and ongoing funding for multiple SIGA initiatives by BARDA. While not commenting on specific outcomes, management confirmed they are targeting a new international contract and delivery by March of next year. The company is seeing governments 'sharpen their focus' on biodefense due to the current geopolitical environment. Management clarified that the expiration of the Meridian agreement in May 2026 resulted in no operational changes, as SIGA had already assumed full responsibility for those functions in 2024. The transition is viewed as seamless, with international business moving forward through new partnerships like the one with Hikma.

This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. SIGA Technologies Inc (NASDAQ:SIGA) reported strong second-quarter product-related revenues of $38 million, driven by $24 million in IV TPOXX deliveries to the US Strategic National Stockpile and $13 million in international sales. The company successfully fulfilled its final product order under the 19C contract with the US government, completing all obligations since 2018 and demonstrating a strong track record of performance. SIGA Technologies Inc (NASDAQ:SIGA) is actively diversifying its customer base, with international sales to two customers in the Asia Pacific and Europe regions, and has entered into a new exclusive distribution agreement with HCM Mena FCE to expand into the MENA region. The company maintains a strong balance sheet with approximately $118 million in cash and no debt, providing financial stability and flexibility. SIGA Technologies Inc (NASDAQ:SIGA) is advancing its pipeline, targeting an FDA submission for its post-exposure prophylaxis program in the first half of 2027 and expecting phase 1 results for its pediatric program by year-end. Management expressed confidence in the continued role of TPOXX in US smallpox preparedness, citing ongoing funding of development programs and recent deliveries, despite slower progress on a new contract. The process for a new multi-year procurement contract with the US government has been slower than expected, with management citing scale of change within HHS, evolving priorities, and open leadership positions as contributing factors. SIGA Technologies Inc (NASDAQ:SIGA) experienced minimal product revenues in the first quarter of 2026, highlighting the inherent quarter-to-quarter variability of its business model. The company faces uncertainty regarding the timing of a new US contract award, which could impact TPOXX deliveries in 2027. International procurement decisions are complex and unpredictable, with management declining to comment on specific outcomes or additional orders within the year. The promotion agreement with Meridian for certain territories recently expired, and while SIGA Technologies Inc (NASDAQ:SIGA) has managed these functions since 2024, the formal expiration could introduce transitional risks. The company's reliance on government customers, particularly the US government, exposes it to political and bureaucratic delays that can affect revenue timing and predictability. Warning! GuruFocus has detected 4 Warning Signs with SIGA. Is SIGA fairly valued? Test your thesis with our free DCF calculator. Q: Regarding the US RFP, the process has been slower than expected. What do you believe is the reason for this delay, and do you still think an award in the second half of the year is possible, and will that be timely enough to support TPOXX deliveries in 2027? A: (CEO) Every new contract process is unique, and this one has taken longer than generally expected. We believe the scale of change within HHS, including new initiatives, evolving priorities, the transition of our contract from BARDA to SNS, and key open leadership positions, have been meaningful contributors to the slower pace. Based on the continuing funding of multiple initiatives at SIGA by BARDA and the recent delivery of IV TPOXX to the SNS, we remain confident in TPOXX's role within the US government's smallpox preparedness strategy, as it is a real threat that the CDC still classifies as a Category A threat. Q: Since the RFP has been delayed and there is uncertainty on timing, are you placing greater strategic emphasis on international markets, and do you expect any additional international orders within this year? A: (CEO) SIGA always has and will continue to focus on all customers, domestic and international. Given the broader geopolitical environment, many governments are sharpening their focus on biodefense and medical countermeasure preparedness. While international procurement decisions are complex, discussions with an international customer have been progressing to the point that we are targeting a new contract, an order against it, and hopefully a delivery by March of next year. Q: Your promotion agreement with Meridian recently expired. Has it been renewed or replaced, and if not, how is SIGA managing promotion and customer relations across those territories? A: (CEO) Since 2024, SIGA has handled and been responsible for the sales, marketing, distribution, and manufacturing of TPOXX in all international markets. Even though the Meridian agreement didn't officially expire until May, nothing has changed on our end. We continue running these functions as we have been, and as seen with recent international orders and new partnerships, the international business continues to move forward without interruption. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Siga Technologies Inc.? Here are five stocks we like better. SIGA reported $38 million in second-quarter product revenue, driven by $24 million from IV TPOXX deliveries to the U.S. Strategic National Stockpile and $13 million in international oral TPOXX sales. The company posted approximately $12 million in net income, or $0.17 per diluted share, and ended June with $118 million in cash and no debt. The company completed its final product order under the existing 19C U.S. government contract but is continuing discussions for a new multiyear TPOXX procurement agreement. SIGA said negotiations have been delayed amid changes and leadership vacancies within the Department of Health and Human Services. International expansion and pipeline development remain priorities. SIGA is targeting a potential international contract and delivery by March 2027, while advancing TPOXX post-exposure and pediatric programs, including a potential FDA submission in the first half of 2027. GeoVax Labs: Is This Micro-Cap Biotech Stock a Boom or a Bust? Siga Technologies (NASDAQ:SIGA) reported second-quarter product-related revenue of $38 million, driven primarily by deliveries of intravenous TPOXX to the U.S. Strategic National Stockpile and oral TPOXX sales to international customers. The company said the quarter reflected the variable timing of its government-focused procurement business after minimal product revenue in the first quarter. Chief Executive Officer Diem Nguyen said approximately $24 million of quarterly product revenue came from IV TPOXX delivered to the Strategic National Stockpile, while about $13 million came from oral TPOXX delivered to customers in the Asia-Pacific region and Europe. The IV delivery completed the final product order under SIGA’s 19C contract with the U.S. government. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth “Since 2018, we’ve successfully delivered on all our product obligations under the agreement,” Nguyen said, adding that the company is seeking to build on its longstanding relationship with the U.S. government. Chief Financial Officer Dan Luckshire said SIGA generated $41 million in product-related revenue for the first six months of 2026, with most of that activity occurring during the second quarter. The company also reported research and development revenue of approximately $3 million for the quarter and $6 million for the first half of the year. Second-quarter pre-tax operating income was approximately $14 million. First-half pre-tax operating income was approximately $9 million. Second-quarter net income was approximately $12 million, or $0.17 per diluted share. First-half net income was $9 million, or $0.13 per diluted share. As of June 30, 2026, cash totaled approximately $118 million and the company had no debt. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Luckshire said the $24 million in IV TPOXX sales represented completion of an order received in 2025 under the 19C contract. The international sales were largely tied to an Asia-Pacific order received earlier in 2026. Nguyen said SIGA is continuing discussions with the U.S. government regarding a new multiyear procurement contract for TPOXX, its antiviral treatment for smallpox. She said the contracting process has taken longer than expected but maintained that the company believes TPOXX continues to have a role in the U.S. smallpox-preparedness strategy. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Responding to an analyst question about the delay, Nguyen cited “the scale of change within HHS,” including new initiatives, changing priorities, the transition of SIGA’s contract from BARDA to the Strategic National Stockpile, and open leadership positions. Nguyen pointed to ongoing BARDA funding for multiple SIGA development initiatives and the recent IV TPOXX delivery to the stockpile as signs of continued government support. She also noted that the Centers for Disease Control and Prevention continues to classify smallpox as a Category A threat. The company said it sees opportunities for additional international TPOXX sales as governments evaluate their biodefense and medical-countermeasure preparedness strategies. Nguyen said international government procurement processes are complex and the company would not comment on specific prospective outcomes. However, she said discussions with an international customer had progressed to the point where SIGA is targeting a new contract, an order under that contract and a potential delivery by March 2027. SIGA also discussed its exclusive licensing and distribution agreement with Hikma MENA FZE for the Middle East and North Africa region. Under that arrangement, Hikma has rights to register and commercialize TPOXX in the region, while SIGA remains the exclusive manufacturer and supplier of finished product. Nguyen said the companies have been meeting to develop a detailed plan to expand TPOXX’s presence in markets where SIGA has historically had limited representation. On the expiration of its promotion agreement with Meridian, Nguyen said SIGA has been responsible for TPOXX sales, marketing, distribution and manufacturing in all international markets since 2024. She said the expiration of the Meridian agreement in May did not interrupt the company’s international operations. Nguyen said SIGA continues to advance post-exposure prophylaxis and pediatric programs for TPOXX. The Centers for Disease Control and Prevention is working on immunogenicity samples for the post-exposure prophylaxis program, and SIGA is targeting a U.S. Food and Drug Administration submission in the first half of 2027. For the pediatric program, the company expects Phase I study results by the end of 2026. Nguyen said those results will determine the next steps for the program, which is intended to support a liquid, weight-based treatment option for children in a smallpox outbreak. 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Siga Technologies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

$37 Million of TPOXX Sales Generated in the Second Quarter Corporate Update Conference Call Today at 4:30 PM ET NEW YORK, Aug. 06, 2026 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and six months ended June 30, 2026. “In the second quarter, we delivered approximately $37 million of TPOXX to three customers: $24 million of IV TPOXX to the U.S. strategic national stockpile and $13 million of oral TPOXX to two international customers,” stated Diem Nguyen, Chief Executive Officer.  “With product deliveries across the U.S., Europe, and the Asia- Pacific region, spanning multiple formulations, SIGA continues to execute its long-term plan of selling TPOXX across a diverse range of regions and customers.” Summary Financial Results (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 reflect different product mixes in those periods. Key Business and Operational Activity In the second quarter of 2026, the Company delivered approximately $13 million of oral TPOXX to two international customers. In the second quarter of 2026, the Company delivered approximately $24 million of IV TPOXX to the U.S. strategic national stockpile under the 19C contract.  These deliveries completed the last procurement order under the 19C contract. Capital Management Activity On March 26, 2026, a special cash dividend of $0.60 per share was declared, and was paid on April 23, 2026, to shareholders of record at the close of business on April 7, 2026. Conference Call and Webcast SIGA will host a conference call and webcast to provide a business update today, Thursday, August 6, 2026, 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. 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: 11157253. 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 smallpox, 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. 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. Forward-looking statements include statements regarding our future financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations, and delivering products to domestic and international customers under procurement contracts. 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 SIGA is not able to secure in a timely manner new contracts with the U.S. Government to substantially maintain or expand the U.S. Government stockpile of TPOXX®,  (ii) the risk that SIGA may not complete performance under the 19C BARDA Contract (the "BARDA Contract"), with the U.S. Biomedical Advanced Research and Development Authority ("BARDA") on schedule or in accordance with contractual terms, (iii) the risk that the nascent international biodefense market does not develop to a degree that allows SIGA to continue to successfully market TPOXX® internationally, (iv) 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, (v) 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, (vi) the risk that SIGA or its collaborators will not obtain or maintain appropriate or necessary governmental approvals to market these or other potential products or uses, (vii) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (viii) 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, (ix) 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, obtaining or maintaining needed approvals to market these products, (x) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts to develop or market its products, (xi) 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, (xii) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses, (xiii) the impacts of significant recent shifts in trade policies, including the imposition of tariffs, retaliatory tariff measures, and subsequent modifications or suspensions thereof, and market reactions to such policies and resulting trade disputes, (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 the 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, 2025 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. Investor and Media ContactSuzanne [email protected]

The market for SIGA Technologies, Inc.'s (NASDAQ:SIGA) shares didn't move much after it posted weak earnings recently. We did some digging, and we believe the earnings are stronger than they seem. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. As finance nerds would already know, the accrual ratio from cashflow is a key measure for assessing how well a company's free cash flow (FCF) matches its profit. To get the accrual ratio we first subtract FCF from profit for a period, and then divide that number by the average operating assets for the period. The ratio shows us how much a company's profit exceeds its FCF. That means a negative accrual ratio is a good thing, because it shows that the company is bringing in more free cash flow than its profit would suggest. That is not intended to imply we should worry about a positive accrual ratio, but it's worth noting where the accrual ratio is rather high. Notably, there is some academic evidence that suggests that a high accrual ratio is a bad sign for near-term profits, generally speaking. Over the twelve months to March 2026, SIGA Technologies recorded an accrual ratio of -0.24. Therefore, its statutory earnings were very significantly less than its free cashflow. Indeed, in the last twelve months it reported free cash flow of US$27m, well over the US$20.2m it reported in profit. SIGA Technologies did see its free cash flow drop year on year, which is less than ideal, like a Simpson's episode without Groundskeeper Willie. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. As we discussed above, SIGA Technologies' accrual ratio indicates strong conversion of profit to free cash flow, which is a positive for the company. Because of this, we think SIGA Technologies' underlying earnings potential is as good as, or possibly even better, than the statutory profit makes it seem! On the other hand, its EPS actually shrunk in the last twelve months. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. If you'd like to know more about SIGA Technologies as a business, it's important to be aware of any risks it's facing. At Simply Wall St, we found 1 warning sign for SIGA Technologies and we think they deserve your attention. This note has only looked at a single factor that sheds light on the nature of SIGA Technologies' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Interested in Siga Technologies Inc.? Here are five stocks we like better. Siga Technologies posted a Q1 loss with limited product deliveries, reporting about a $3 million net loss and $0.05 diluted EPS. The company ended the quarter with roughly $146 million in cash and no debt, and it also paid a special $0.60 per share dividend. Management expects a meaningful Q2 pickup, including about $13 million of oral TPOXX for an Asia-Pacific customer and additional IV TPOXX deliveries to the U.S. Strategic National Stockpile. Siga said government ordering remains lumpy, but it continues negotiations on a new U.S. contract. The company is expanding TPOXX internationally through a Hikma MENA distribution agreement covering the Middle East and North Africa. Siga also said it is advancing pediatric and post-exposure prophylaxis programs, while the European CHMP recommended removing TPOXX’s mpox indication but reaffirmed its smallpox benefit-risk profile. GeoVax Labs: Is This Micro-Cap Biotech Stock a Boom or a Bust? Siga Technologies (NASDAQ:SIGA) reported a first-quarter loss as product deliveries remained minimal, but management said it expects a pickup in the second quarter tied to an international order and additional deliveries to the U.S. Strategic National Stockpile. Chief Executive Officer Diem Nguyen said the company’s core strategy remains focused on partnering with governments and nongovernmental organizations to support preparedness against biological threats, particularly smallpox. Nguyen said Siga continues to position TPOXX, its smallpox antiviral treatment, for rapid, large-scale deployment in emergency situations. → Insider Sales: Top AST SpaceMobile Insider Cuts Postion Over 30% “The case for preparedness has never been stronger,” Nguyen said, citing geopolitical tensions, technological risks, including those enabled by artificial intelligence tools, and broader biological threats as reasons governments should continue investing in medical countermeasures. Nguyen said Siga’s first-quarter results reflected the “variable rhythm” of its business, with limited product deliveries during the period. She said the company expects to deliver approximately $13 million of oral TPOXX to an international customer in the second quarter, along with additional IV TPOXX deliveries to the U.S. Strategic National Stockpile. → Light Speed Returns: Corning Cashes In on NVIDIA Growth Chief Financial Officer Dan Luckshire said first-quarter product revenues included approximately $1 million of IV TPOXX deliveries to the Strategic National Stockpile and approximately $2 million of reimbursement revenues tied to manufacturing technology transfer. The company also recorded approximately $3 million of research and development revenue during the quarter. Siga reported a pre-tax operating loss of approximately $5 million, excluding interest income and taxes, and a net loss of approximately $3 million. Fully diluted loss per share for the three months ended March 31, 2026, was $0.05. → Years in the Making, AMD’s Upside Movement Has Just Begun Luckshire said the company ended the quarter with approximately $146 million in cash and no debt. Siga declared a special cash dividend of $0.60 per share on March 26 for shareholders of record as of April 7, which was paid on April 23. Nguyen said Siga continues to engage with the U.S. government, including stakeholders at the Department of Health and Human Services, as it works toward a new contract. She said the pace of progress has been slower than in prior contract processes, but pointed to $27 million in funding secured in 2025 for pediatric formulation development and IV TPOXX technology transfer efforts, as well as a 2025 IV TPOXX order, as signs of TPOXX’s continued role in U.S. preparedness planning. Nguyen added that Siga’s operating model aligns with U.S. government priorities, noting that the government receives the company’s lowest price for oral TPOXX and that its active pharmaceutical ingredient and finished drug products are manufactured domestically. Outside the United States, Nguyen said Siga remains in discussions with governments and other stakeholders reviewing preparedness strategies and funding. Strategic stockpiling remains central to those discussions, she said, while noting that government procurement is typically a deliberate process. The company expects to fulfill a $13 million order from a country in the Asia-Pacific region during the second quarter. Nguyen said Siga is active with other potential customers and will provide updates if additional orders occur. Siga also recently entered into an exclusive license and distribution agreement with Hikma MENA FZE, giving Hikma the right to register and commercialize TPOXX across the Middle East and North Africa. Under the agreement, Siga will serve as the exclusive manufacturer and supplier of finished product for Hikma. Nguyen said the agreement is intended to broaden global access to TPOXX in a region where Siga has historically been underrepresented. She said Hikma’s regional presence and experience with complex procurement processes make it a strategic partner. Asked about the deal economics, Nguyen said Siga will supply finished product to Hikma, which will manage customer relationships in the region. TPOXX will be sold at a price set in the agreement, and Siga may be entitled to additional payments under certain conditions. She said the financial terms are confidential. During the question-and-answer portion of the call, Edison Group analyst Jyoti Prakash asked about the Committee for Medicinal Products for Human Use’s recommendation that TPOXX not be used for mpox treatment. Nguyen said CHMP reaffirmed the positive benefit-risk balance of Tecovirimat SIGA, known as TPOXX in Europe, for smallpox, cowpox and vaccinia complications. She said the committee recommended that the European Commission withdraw the mpox indication. Nguyen said the company is taking regulatory steps to inform relevant stakeholders and implement the recommendation following adoption by the European Commission. She emphasized that TPOXX was developed as a treatment for smallpox and that “saving lives of patients suffering from smallpox has been and will continue to be SIGA’s focus.” On the pipeline, Nguyen said Siga continues to advance its post-exposure prophylaxis and pediatric programs. The company has filed its investigational new drug application for the pediatric program and initiated a Phase 1 study, with results expected in the second half of the year. For the post-exposure prophylaxis program, Nguyen said the Centers for Disease Control and Prevention continues analyzing immunogenicity samples, and Siga is targeting an FDA submission for a PEP indication within the next 12 months. Asked whether the company is comfortable returning capital to shareholders given the uneven timing of government orders, Luckshire said Siga considered its variable business model when declaring the 2026 dividend. He said that after accounting for the dividend on a pro forma basis, the company would still have more than $100 million in cash and no debt. Luckshire said Siga believes it remains well-positioned to navigate potential near-term gaps in government ordering. He added that the company continues to evaluate ways to deploy capital, including dividends, acquisitions, in-licensing and other options intended to create shareholder value. Nguyen closed the call by saying Siga remains focused on financial and operational discipline, government partnerships and the long-term need for biological preparedness. 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. The article "Siga Technologies Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance is characterized by a variable rhythm where activity levels fluctuate significantly quarter-to-quarter due to the nature of government procurement cycles. The company attributes its long-term value to the enduring need for smallpox preparedness, driven by rising geopolitical tensions and AI-enabled biological risks. Management emphasizes that the U.S. government remains a primary partner, receiving the lowest pricing for oral TPOXX while benefiting from a domestic manufacturing supply chain. A strategic pivot toward underrepresented regions is underway, exemplified by a new exclusive license and distribution agreement with Hikma for the MENA region. The company is focusing on high-consequence biothreats like smallpox rather than self-resolving conditions like MPOXX to align with government stockpiling priorities. Operational discipline is maintained through a lean model that supports a strong balance sheet with approximately $146 million in cash and zero debt. Second quarter 2026 revenue is expected to be driven by a $13 million oral TPOXX delivery to an Asia-Pacific customer and additional IV TPOXX deliveries to the SNS. Management is targeting an FDA submission for the Post-Exposure Prophylaxis (PEP) indication within the next 12 months, pending CDC immunogenicity analysis. The pediatric program is advancing with Phase 1 study results expected in the second half of 2026 to inform subsequent development steps. While the U.S. government contract process has been slower than historical norms, recent funding for pediatric and IV tech transfer is viewed as a signal of long-term commitment. Future capital allocation will continue to balance shareholder returns via dividends with active exploration of M&A and in-licensing opportunities. The CHMP reaffirmed the positive benefit-risk balance for TPOXX in smallpox, cowpox, and vaccinia, despite recommending the withdrawal of the MPOXX indication. A special cash dividend of $0.60 per share was paid in April 2026, reflecting management's confidence in navigating lumpy revenue cycles. The Hikma MENA FZE agreement establishes a new commercial framework where SIGA acts as the exclusive manufacturer while the partner manages regional procurement. The company secured $27 million in 2025 specifically to support pediatric formulation and IV TPOXX technology transfer efforts. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the core indications for smallpox, cowpox, and vaccinia complications have been reaffirmed by the CHMP. The withdrawal of the MPOXX indication does not impact the primary strategic focus, as MPOXX trials used endpoints related to self-resolution rather than life-saving intervention. CFO Daniel Luckshire stated that the company remains well-positioned with over $100 million in cash on a pro forma basis following the dividend payment. The business model's inherent variability is a known factor that management has successfully navigated over multiple years while maintaining zero debt. Interest in strategic stockpiling is broad and not restricted to specific geographies, though the MENA region was previously underrepresented. The Hikma agreement is structured as a supply-and-distribution model; while specific financial terms are confidential, SIGA may receive additional payments under certain conditions.

On Track to Deliver $13 Million of Oral TPOXX to an International Customer in Second Quarter Expect to Deliver $26 Million of IV TPOXX to the U.S. Government Strategic National Stockpile by End of the Third Quarter Corporate Update Conference Call Today at 4:30 PM ET NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three months ended March 31, 2026. “Consistent with our long-term strategy, we expect to deliver more than $35 million of oral and IV TPOXX to a combination of the U.S. Government and an international customer across the second and third quarters of 2026," stated Diem Nguyen, Chief Executive Officer. "Our focus remains on securing new procurement contracts and orders that can drive our business going forward, building upon our long track record as a successful partner to the U.S. and international governments.” (1) Includes supportive services related to product sales. (2) Includes research and development revenues. (3) Operating loss excludes, and Loss before income taxes includes, other income. Both line items exclude the impact of income taxes. International License Agreement in MENA Region In March 2026, the Company entered into an exclusive license agreement with Hikma MENA FZE (Hikma) under which Hikma has obtained exclusive rights to register and commercialize oral TPOXX in the Middle East and North Africa (MENA) region. The Company will be the exclusive supplier of TPOXX to Hikma under the agreement. Key Planned Activities The Company is planning to deliver approximately $13 million of oral TPOXX® treatment courses to a customer in the Asia Pacific region in the second quarter of 2026. This delivery is part of a multi-year contract that was signed earlier in 2026, and includes options for the potential purchase of additional courses. The Company is planning to deliver this year approximately $26 million of IV TPOXX® treatment courses to the U.S. Government Strategic National Stockpile by the end of the third quarter of 2026. These deliveries are expected to fulfill the procurement order received in 2025 under the 19C BARDA contract. Capital Management Activity On March 26, 2026, a special cash dividend of $0.60 per share was declared, and was paid on April 23, 2026 to shareholders of record at the close of business on April 7, 2026. Conference Call and Webcast SIGA will host a conference call and webcast to provide a business update today, Thursday, May 7, 2026, 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: 1158847. 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. 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. Forward-looking statements include statements regarding our future financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations, and delivering products to domestic and international customers under procurement contracts, such as the 19C BARDA Contract (the "BARDA Contract"), with the U.S. Biomedical Advanced Research and Development Authority ("BARDA"). 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 SIGA may not complete performance under the BARDA Contract on schedule or in accordance with contractual terms, (ii) the risk that SIGA is not able to enter into new contracts to supply TPOXX® to the U.S. Government, (iii) the risk that the nascent international biodefense market does not develop to a degree that allows SIGA to continue to successfully market TPOXX® internationally, (iv) 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, (v) 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, (vi) the risk that SIGA or its collaborators will not obtain or maintain appropriate or necessary governmental approvals to market these or other potential products or uses, (vii) the risk that SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (viii) 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, (ix) 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, obtaining or maintaining needed approvals to market these products, (x) the risk that the volatile and competitive nature of the biotechnology industry may hamper SIGA’s efforts to develop or market its products, (xi) 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, (xii) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses, (xiii) the impacts of significant recent shifts in trade policies, including the imposition of tariffs, retaliatory tariff measures, and subsequent modifications or suspensions thereof, and market reactions to such policies and resulting trade disputes, (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 the 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, 2025 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. Investor and Media Contact: Suzanne Harnett [email protected]

Image source: The Motley Fool. Thursday, May 7, 2026 at 4:30 p.m. ET Chief Executive Officer — Diem Nguyen Chief Financial Officer — Daniel J. Luckshire Need a quote from a Motley Fool analyst? Email [email protected] Diem Nguyen: Good afternoon, everyone, and thank you for joining today's call and review of our business results. I am joined by Daniel J. Luckshire, our Chief Financial Officer, and we appreciate this opportunity to provide an update on our company. After the update, we will be happy to answer your questions. SIGA Technologies, Inc.'s focus remains unchanged: partnering with governments around the globe to build and strengthen long-term preparedness strategies against potential biological threats, specifically smallpox. We are proud to supply our smallpox antiviral treatment to many countries and NGOs, and we remain committed to ensuring that TPOXX is positioned for rapid, large-scale deployment whenever it is needed to help save lives. The case for preparedness has never been stronger. Smallpox and other high-consequence threats, whether the result of an accident, a deliberate act, or a natural occurrence, represent a real and serious threat that can be managed only with proactive, sustained investment. Stockpiling medical countermeasures is a cornerstone of preparedness strategies. And in today's environment of rising geopolitical tension, accelerating technological risk, including those enabled by AI tools, and growing biological threats, the urgency to make that investment is clear. We believe TPOXX is uniquely suited to meet the smallpox threat with a well-established safety profile and targeted mechanism of action that supports broad use in emergency situations. The 2026 period reflected a variable rhythm inherent to our business. Activity levels vary quarter to quarter. The first quarter had minimal product deliveries, whereas in the second quarter, we expect to deliver approximately $13 million of oral TPOXX to an international customer, as well as make additional IV TPOXX deliveries to the SNS. As a reminder, given this quarter-to-quarter variability, we recommend that our results be viewed in the context of our longer-term performance rather than in isolation. We believe our long-term outlook continues to offer substantial opportunities. This belief is grounded in the fundamentals of our business and the enduring need for governments to protect against biological threats. We continue to maintain engagement with the U.S. government, particularly key stakeholders at HHS. Although the pace of progress toward a new contract with the U.S. government has been slower than prior contract processes, we believe the $27 million in funding secured in 2025 to support pediatric formulation development and IV TPOXX technology transfer efforts, as well as the 2025 IV TPOXX order, are strong signals highlighting the continued role TPOXX is expected to play in U.S. biothreat preparedness. It is worth reiterating that SIGA Technologies, Inc.'s operating model is closely aligned with U.S. government priorities. Specifically, the U.S. government receives our lowest price for oral TPOXX, and our active pharmaceutical ingredient and all finished drug products are manufactured domestically. Turning to our international business, we continue to engage with governments and other key stakeholders around the world who continue to review their preparedness strategies and funding. Strategic stockpiling remains central to those conversations. Government procurement is a deliberate process. That said, discussions continue, and we see potential for additional international sales over time. As noted last quarter and earlier on this call, we received a $13 million order from a country in the Asia-Pacific region which we expect to deliver in the second quarter of this year. We also took important steps towards potential sales in a region where SIGA Technologies, Inc. has historically been underrepresented. We recently entered into an exclusive license and distribution agreement with Hikma MENA FZE. They give Hikma the right to register and commercialize TPOXX across the Middle East and North Africa, or MENA. Under the agreement, SIGA Technologies, Inc. will serve as the exclusive manufacturer and supplier of finished product for Hikma. This agreement represents a key step in our strategy to broaden global access to TPOXX, and Hikma is the right partner for it. Their unparalleled regional presence and deep expertise in bringing innovative medicines to market make Hikma well positioned to bring TPOXX to these markets. Turning to our pipeline, we continue to advance our post-exposure prophylaxis, or PEP, and pediatric programs. On the pediatric program, we filed our IND and initiated a Phase 1 study. Results are expected in the second half of this year, which will inform next steps. On the PEP program, the CDC continues work on the analysis of immunogenicity samples. We are targeting an FDA submission for the PEP indication in the next 12 months. Looking forward, we remain focused on what has always driven this business: financial and operational discipline, and building on the partnerships that position SIGA Technologies, Inc. for long-term success. As we move further into 2026, we do so with a clear sense of purpose. The global need for biological preparedness is real and growing, and SIGA Technologies, Inc. is prepared to meet it. We have a product approved by regulators around the world, strong government relationships, and a team that executes. We look forward to continued progress and to updating you along the way. I will now turn the call over to Daniel J. Luckshire for the financial results. Daniel J. Luckshire: As noted earlier in the call, the company had minimal product deliveries in the first quarter, reflecting the variable rhythm of SIGA Technologies, Inc.'s business model. Product revenues for this quarter include approximately $1 million of IV TPOXX deliveries to the SNS and approximately $2 million of reimbursement revenues in connection with the manufacturing technology transfer. In addition to product-related revenues in the first quarter, the company also had research and development revenues of approximately $3 million. As I talk about revenues, I would like to highlight that we expect second quarter product revenues to reflect the delivery of approximately $13 million of oral TPOXX to an international customer, as well as additional IV TPOXX deliveries to the SNS. Returning to the first quarter financial results, pretax operating loss for the quarter, which excludes interest income and taxes, was approximately $5 million, and net loss for this period was approximately $3 million. In turn, fully diluted loss per share for the three months ended 03/31/2026 was $0.05. The company continues to maintain a strong balance sheet. As of 03/31/2026, the company had a cash balance of approximately $146 million and no debt. Based on the company's substantial cash balance, a special cash dividend of $0.60 per share was declared on March 26 for shareholders of record as of April 7. The special cash dividend was paid on April 23. This concludes the financial update. I will now turn the call back to Diem Nguyen. Diem Nguyen: Thank you, Dan. We will now open the call for questions. Operator: Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, please press the star followed by the one on your touch-tone phone. You will hear a prompt that your hand has been raised. Should you wish to decline from the polling process, please press the star followed by the two. If you are using a speakerphone, please lift the handset before pressing any keys. Your first question comes from Jyoti Prakash with Edison Group. Please go ahead. Jyoti Prakash: Hi, good afternoon, and thanks for taking my questions. My first question is related to CHMP's recent recommendation that TPOXX should not be used for MPOXX treatment. Now this is largely expected, and you had also guided for this previously. But do you see any impact of this decision on TPOXX's broader labeling in smallpox and other orthopoxviruses in Europe? Diem Nguyen: Jyoti, thank you so much for asking the question. Just as a reminder for those on the call, we had shared earlier that the CHMP has confirmed the positive benefit-risk balance of tecovirimat, which is known as TPOXX in Europe, as a treatment for smallpox, cowpox, and vaccinia complications. Those indications have been reaffirmed by CHMP. And as you mentioned, the CHMP had recommended to the European Commission to withdraw the MPOXX indication. We are currently taking the necessary regulatory steps to inform all relevant stakeholders, as well as implement the CHMP recommendation following its adoption by the European Commission. Having said all that by way of background, TPOXX was developed as a treatment for smallpox to save lives and to serve as a critical countermeasure against smallpox. Smallpox is one of the world's most dangerous biothreats, and this antiviral is needed in the event of an outbreak. In contrast, the MPOXX trials measure tecovirimat's benefit using complete lesion resolution, an endpoint related to the immune activity in patients already progressing toward self-resolution. Stabilized patients suffering from smallpox have been and will continue to be SIGA Technologies, Inc.'s focus. Jyoti Prakash: Thank you, this was quite helpful. And my next question is related to the dividend payout. You recently paid out the fifth consecutive annual special dividend. Now this is a sign of a strong balance sheet, but how comfortable are you returning this level of capital while maintaining sufficient liquidity through the potential gaps in government ordering, particularly given that the revenues tend to be lumpy? Daniel J. Luckshire: Hi, Jyoti. Maybe as a starting point, just to point out that the 2026 dividend, as well as prior dividends, were declared and have been declared and paid with the understanding that we do have a business model that is subject to variability. This variability has been a consistent feature of SIGA Technologies, Inc.'s business model, so it is not really a new thing. We have been navigating this over the years. In assessing a potential dividend in 2026, we considered many factors, including our continuing focus on deploying capital to drive the greatest value for shareholders, as well as our substantial cash balance, which at March 31 was approximately $146 million. When you take into account the dividend on a pro forma basis, the cash balance would still be over $100 million, and with no debt. So when you take all these things into account, as well as multiple other considerations, the company believes that we continue to be well positioned to navigate any near-term gaps in government ordering. Jyoti Prakash: That is great, Dan. And you mentioned that your cash position remains strong even after the dividend payout. Now if we look ahead, what would be your key priorities for capital deployment? And we have asked this previously, but are you actively considering acquisitions or in-licensing opportunities? Daniel J. Luckshire: Yes. As you mentioned, it has been a discussion point in the past. And the answer is yes, we continue to explore ways to expand the pipeline, either through acquisition or in-licensing. As we have highlighted on prior calls, we remain committed to deploying capital in ways that we believe will drive the greatest value. That could be through dividends, through acquisitions, through in-licensing, or through other means. Jyoti Prakash: Thank you, that is very helpful. And I have one final question, and this relates to international markets. You have announced a large $13 million order from the Asia-Pacific, which will be delivered in Q2. And you also announced the recent licensing agreement with Hikma for the MENA region. Are you seeing a broader increase in stockpiling interest across all international markets, or is it restricted to any particular geographies? And just following on from that, on the Hikma agreement, can you provide a bit more color on the deal economics, and if it is structured similarly to your previous partnership with Meridian? Diem Nguyen: Yes, I can take that. As we mentioned earlier in the call, we do expect to deliver approximately $13 million of oral TPOXX to an international customer in the second quarter. We remain engaged and active with other potential customers, and we will provide updates as additional orders occur in this region as well as others. It is not specific to a target region. In addition, with our conversations with Hikma, we are quite enthusiastic and excited about the opportunity, as we believe Hikma can help unlock demand across the MENA region, which was underrepresented for SIGA Technologies, Inc. before. As noted in our prepared remarks, their strong regional presence and deep expertise navigating complex procurement processes make them a highly strategic and attractive partner to bring TPOXX to these markets. In short, from a deal construct perspective, we will supply finished product to Hikma, who will manage the customer relationships in the region. TPOXX will be sold at a price set forth in the agreement. SIGA Technologies, Inc. may also be entitled to additional payments under certain conditions. The financial terms of the agreement are confidential and will not be further disclosed. Jyoti Prakash: Thank you, this is very helpful. No further questions from my side. Operator: There are no further questions at this time. I will turn the call back over to Diem Nguyen. Diem Nguyen: I would like to thank everyone for making the time to join us on today's call and for your ongoing interest in SIGA Technologies, Inc. We look forward to speaking to you again in our second quarter call. Operator: Have a great evening. Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect. Before you buy stock in SIGA Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SIGA Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $476,034!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,274,109!* Now, it’s worth noting Stock Advisor’s total average return is 974% — a market-crushing outperformance compared to 206% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of May 7, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. SIGA (SIGA) Q1 2026 Earnings Call Transcript was originally published by The Motley Fool