SIGA Technologies, Inc. (NASDAQ:SIGA) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET
Company Participants
Phil Gomez - CEO
Dennis Hruby - Chief Scientific Officer
Dan Luckshire - CFO
Conference Call Participants
Adam McCarter - Edison Group
Ralph Weil - R. Weil Investments
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 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, 2022, and its subsequent report on Form 10-Q and Form 8-K.
Phil Gomez
Thank you for taking the time to join today's call. Today, I'm joined by Dr. Dennis Hruby, our Chief Scientific Officer; and Dan Luckshire, our CFO. We are pleased to have this opportunity to provide a business R&D and financial update to our shareholders. We'll then be happy to take questions.
On our last call, we noted that we expect the company's streak of positive financial performance to continue in 2023, with deliveries of oral TPOXX to the Strategic National Stockpile being a key driver. With this expectation, we have been proactively building inventory in anticipation of a substantial replenishment order of oral TPOXX for the Strategic National Stockpile.
Based on a series of considerations, we are currently targeting for 2023 approximately $113 million of oral TPOXX deliveries to the strategic national stockpile. These deliveries would occur under the current 19C contract. Additionally, we are targeting approximately $11 million of oral TPOXX deliveries to the U.S. Department of Defense for 2023.
Furthermore, in addition to pursuing U.S. government sales of oral TPOXX, we will also continue to work towards generating revenues in 2023 from deliveries of IV TPOXX to the Strategic National Stockpile as well as generating international sales of oral TPOXX. With respect to the international sales effort, as of March 31, 2023, there were firm commitment orders from two European countries for the delivery in 2023 of approximately $8 million of oral TPOXX. Additionally, we are currently engaged in active negotiation to add to this amount. In sum, we will continue to work hard to build on the 2023 international base as the year progresses.