SIGA Technologies


Market Cap$470.6m

Last Close $6.35

SIGA Technologies is a commercial-stage health security company focused on the treatment of smallpox and other orthopoxviruses. It has contracts with both the US and Canadian governments for TPOXX, its treatment for smallpox.

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Investment summary

SIGA Technologies is a commercial-stage company focusing on health security. Its lead program is oral TPOXX (tecovirimat), which was approved by the FDA in 2018 for the treatment of smallpox and is active against all orthopoxviruses. Importantly, in 2018 SIGA was awarded a 60-month contract (with options to extend to 2028) of up to $602m from the US Biomedical Advanced Research and Development Authority (BARDA). The bulk of the BARDA contract is related to the oral version of TPOXX in people with smallpox. The company is looking to expand its franchise with an IV version (approval targeted for Q122), a liquid formulation mainly for use in small children and a label expansion for TPOXX for use in post-exposure prophylaxis.

Y/E Dec
Revenue (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 26.7 0.0 (15.3) (15.2) N/A N/A
2020A 125.0 84.5 82.0 81.8 7.8 7.0
2021E 133.3 87.3 87.4 87.7 7.2 7.3
2022E 124.7 78.0 78.5 80.5 7.9 7.7
Industry outlook

Smallpox is a very serious life-threatening disease caused by the variola virus. The literature suggests a death rate of up to 30% (compared to around 2% for COVID-19). According to CDC forecasts, over 50 million people could be infected in a smallpox outbreak.

Last updated on 21/01/2022
Content on SIGA Technologies
SIGA Technologies – executive interview
Healthcare | Edison TV | 28 October 2021
SIGA Technologies – Q221 results
Healthcare | Update | 10 August 2021
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Share price graph
Balance sheet
Forecast net cash (US$m) 163.3
Forecast gearing ratio (%) N/A
Price performance
Actual (18.1) (9.7) (11.1)
Relative* (13.4) (6.6) (22.1)
52-week high/low US$9.3/US$5.7
*% relative to local index
Key management
Eric Rose Chairman
Daniel Luckshire Executive VP and CFO