SIGA Technologies, Inc. (NASDAQ:SIGA) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET
Company Participants
Phillip Gomez - Chief Executive Officer
Dan Luckshire - Chief Financial Officer
Dennis Hruby - Executive Vice President & Chief Scientific Officer
Conference Call Participants
Ken Mestemacher - Edison Group
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 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 the subsequent reports on Form 10-Q and Form 8-K
Phillip Gomez
Thank you for taking the time to join today's call. Today I'm joined by Dan Luckshire, our CFO; and Dr. Dennis Hruby, our CSO. 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 the last call we discussed strong financial results for 2021 with $89 million of pre-tax operating income. This financial performance followed $85 million of pre-tax operating income in 2020. We believe the financial results in 2021 and 2020 highlight the attractive financial capability of SIGA's business. The results also highlight the current importance of orders under the BARDA 19C contract. Also on our last call, we noted that since the US government stockpiles does not have scheduled expirations this year, there is no immediate need for the US government to secure deliveries of TPOXX in 2022 to replenish expiration.
As such as previously noted, our efforts are following two tracks. On one track, we continue to work with BARDA and the ASPR to exercise options further in advance and we continue to work on a longer-term 10-year contract with annual options to smooth out deliveries and better manage budgets and supply chain.
On the other track, we acknowledge that there are no stockpile expirations scheduled for 2022 that would be a catalyst for significant US government orders of oral TPOXX this year. And as such we're pursuing a series of ongoing initiatives that position the company for the next wave of procurement orders we expect in the coming years. Let me discuss the initiatives.