SIGA Technologies, Inc. (NASDAQ:SIGA) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET

Company Participants

Phillip Louis Gomez - Chief Executive Officer

Dennis Hruby - Executive Vice President and Chief Scientific Officer

Jay Varma - Executive Vice President and Chief Medical Officer

Daniel Luckshire - Executive Vice President and Chief Financial Officer

Conference Call Participants

Pooya Hemami - Edison Group

Paul Saunders - Hatch Capital

Operator

Welcome to the 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 change circumstances after this call.

For 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, 2022, and its subsequent reports on Form 10-Q and Form 8-K.

I would now like to turn the conference over to Phil Gomez, Chief Executive Officer. Thank you. Please go ahead.

Phillip Louis Gomez

Thank you for taking the time to join today's call. Today, I'm joined by Dennis Hruby, our Chief Scientific Officer; Jay Varma, our Chief Medical Officer; and Dan Luckshire, our CFO.

We are pleased to have this opportunity to provide an update to our shareholders. We'll then be happy to take questions. I'd like to start this call by highlighting key financial targets for 2023. We expect orders for oral and IV TPOXX to be approximately $164 million in 2023, with a substantial percentage of those orders to be delivered in 2023.

As such, as previously disclosed, we are targeting 2023 pretax operating income of between $90 million and $100 million based on the timing of deliveries that are currently being coordinated among the company, our supply chain, and our government customers. Target pretax operating income for 2023 is based on the following target revenues. Approximately $113 million of revenues from fourth quarter deliveries of oral TPOXX to the U.S. Strategic National Stockpile. Approximately $5 million of revenue from fourth quarter deliveries of oral TPOXX to the U.S. Department of Defense. $15 million to $18 million of revenue from fourth quarter international deliveries of oral TPOXX to the two European countries in connection with the recently announced HERA joint-procurement framework contract and up to $50 million of revenue from fourth quarter deliveries of IV TPOXX to the U.S. Strategic National Stockpile.