SIGA Technologies, Inc. (NASDAQ:SIGA) Q3 2022 Results Conference Call November 3, 2022 4:30 PM ET

Company Participants

Phil Gomez - CEO

Dan Luckshire - CFO

Conference Call Participants

Ken Mestemacher - Edison

Brian Adams - Carter, Terry & Company

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 statement 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, 2021 and its subsequent reports on Form 10-Q and Form 8-K.

I would now like to hand the conference over to Mr. Phil Gomez.

Phil Gomez

Thank you for taking the time to join today’s call. Today, I’m joined by Dan Luckshire, our CFO. We are pleased to have this opportunity to provide a business and financial update to our shareholders. We’ll then be happy to take questions.

With $61 million of international sales this quarter, spread over 12 international customer, SIGA’s third quarter financial results continue a trend of substantial financial diversification at SIGA. In combination with the first sales of the intravenous formulation of TPOXX, IV TPOXX in the first quarter of 2022 and the first sale of oral TPOXX to the U.S. Department of Defense in the second quarter of 2022, the sale of oral TPOXX or tecovirimat to 12 international customers in the third quarter of 2022 highlights the continuing and substantial diversification of SIGA’s revenue base.

Importantly, I would like to note that the new procurement order in August for approximately $26 million of IV TPOXX by BARDA and the new DoD procurement contract award in September for up to approximately $11 million of oral TPOXX highlight how diversification can lay the groundwork for future revenues. In total, we have received approximately $115 million of firm commitment procurement orders for TPOXX this year, a portion of which will be recognized as revenue in 2023.

Overall, we believe the expanded number of customers and recent repeat order activity by the DoD emphasizes the growing recognition by government of the overall importance of health security preparedness and that by increasing both the scale and scope of TPOXX stockpiling, countries can better -- can be better prepared for the outbreak risks of smallpox, monkeypox and other viruses in the orthopoxvirus family.