The following is a summary of the SIGA Technologies, Inc. (SIGA) Q1 2024 Earnings Call Transcript:
Financial Performance:
SIGA reported a rise in product revenues to $24 million in Q1 2024, with a pre-tax operating income of $11 million.
The leading revenue drivers were sales of oral TPOXX, including $60 million to the U.S. government and $8 million to 8 international customers.
The company achieved a turnaround in net income, reporting $13 million in Q1 2024 as opposed to a net loss of $1 million in Q1 2023.
SIGA ended Q1 2024 with a robust cash balance of around $144 million and no debt.
Business Progress:
SIGA is driving long-term success through strategic decision making, key operating initiatives, and disciplined capital management.
Through an agreement amendment with Meridian Medical Technologies, SIGA now controls the marketing and promotion of oral TPOXX from June 1, 2024.
The company welcomed a new Vice President for International Markets.
TPOXX's global presence has been broadened by expanding its approvals to new indications and formats, especially through the PEP and mpox programs.
A new drug application for TPOXX has been filed in Japan for treating various orthopoxvirus-related conditions.
SIGA predicts a strong financial performance throughout 2024, including an impending order for oral TPOXX under the current BARDA contract.
The company is actively involved in the global response against the mpox outbreak in the DRC and the possible spread of other orthopoxviruses.
More details: SIGA Technologies IR
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