SIGA Therapeutics Inc. (NASDAQ: SIGA) Reports Q1 2022 Financial Results With Product Sales of $9 Million

SIGA Therapeutics Inc. (NASDAQ: SIGA) has announced its Q1 2022 financial results and for the six months ending June 30, 2022. The company reported product sales of $9 million, including the first Oral TPOXX sales to the US Department of Defense (DOD) and around $5 million in international sales.

SIGA received $69 million of international orders for TPOXX in Q1 2022

CEO Phil Gomez said, “In combination with the first sale of the intravenous formulation of TPOXX (“IV TPOXX”) in the first quarter of 2022, the Company continues to expand and diversify its revenue base. We expect this positive trend to continue in the second half of 2022 as we have received year to date, as of July 31, approximately $60 million of international orders from ten international jurisdictions, of which nine of the jurisdictions are first-time customers.”

Since the start of the year, ten different countries—nine of which are new clients—have placed orders with SIGA for oral TPOXX (tecovirimat), totaling over $60 million. Of these orders, $5 million was delivered in Q2 2022, $26 million is anticipated to be delivered in Q3 2022, and the rest of the orders are anticipated to be completed between October 1, 2022, and July 31, 2023.

More governments procuring TPOXX

SIGA announced on July 8 that the UK had approved oral TPOXX for smallpox, cowpox, monkeypox, and vaccinia complications after vaccination against smallpox in children above 13 k and adults. The regulatory approval comes at the back of the European Medicines Agency’s regulatory approval at the start of the year.

Gomez added, “We believe the increasing number of international governments that are procuring oral TPOXX, as well as the large number of inquiries regarding TPOXX procurement, highlight the overall importance of health security preparedness, and that by increasing both the scale and scope of TPOXX stockpiling, countries can be better prepared for the outbreak risks of smallpox, monkeypox, and other viruses in the orthopoxvirus family of viruses and make sure that patients are able to access treatment.”