Antiviral therapeutics developer SIGA Q3 revenue plummets on lower TPOXX deliveries

Reuters11-07
Antiviral therapeutics developer SIGA Q3 revenue plummets on lower TPOXX deliveries

Overview

  • SIGA Q3 revenue declines to $2.6 mln vs $10 mln yr ago, posts a net loss compared to a profit last year

  • Company attributes revenue decline to lower product sales, especially TPOXX deliveries

  • SIGA focuses on securing new procurement contracts for future revenue growth

Outlook

  • SIGA focuses on securing new procurement contracts for future revenue growth

Result Drivers

  • LOWER PRODUCT SALES - Significant decline in Q3 revenue attributed to reduced TPOXX deliveries

  • U.S. GOVERNMENT CONTRACTS - $53 mln oral TPOXX and $26 mln IV TPOXX revenues from U.S. Strategic National Stockpile deliveries

  • INTERNATIONAL SALES - $6 mln oral TPOXX sale to international customer, marking fifth sale in six years

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

-$6.40 mln

Analyst Coverage

  • The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 5 three months ago

Press Release: ID:nGNX7g5NW3

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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