SIGA Technologies Shares Climb 8.3% on 10-Fold Increase in 4Q Revenue, Special Dividend

Dow Jones03-13

By Sabela Ojea

Shares of SIGA Technologies climbed 8.3% to $5.76 in post-market trading on Tuesday after the company swung to a profit in the fourth quarter on a surge in revenue and declared a special cash dividend.

The pharmaceutical company posted a net profit of $72.3 million, or $1.01 a share, compared with a loss of $800,000, or 1 cent a share, for the same period a year earlier.

Product revenue surged to $115.7 million from $5.1 million a year ago, taking total revenue to $116.5 million from $11.4 million.

Regarding the company's payout to shareholders, the company said its board of directors approved a special cash dividend of 60 cents, representing an increase of 15 cents per share from last year's special cash dividend.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 12, 2024 17:57 ET (21:57 GMT)

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