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SIGA Technologies (NASDAQ: SIGA)

Last close As at 17/04/2024

USD8.51

▲ −0.42 (−4.70%)

Market capitalisation

USD605m

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

With c 64,000 global cases and 23,000 cases in the US, mpox remains a growing concern for governments and health agencies. SIGA’s antiviral product TPOXX is the leading therapeutic, originally designed to treat smallpox. TPOXX was approved by the US FDA for smallpox and is now available to treat mpox through the Centers for Disease Control and Prevention’s expanded access investigational new drug protocol. Currently, it is the only allowed therapy for all orthopoxvirus pathogens, including mpox, approved in both the UK and the EU.

Latest Insights

View More

Healthcare | Flash note

SIGA Technologies — Positive signals abound

Healthcare | Update

SIGA Technologies — Onwards and upwards with strong FY23

Healthcare | Flash note

SIGA Technologies — New captain to steer the ship

Healthcare | Update

SIGA Technologies — International momentum building towards year-end
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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Daniel Luckshire

    Executive VP and CFO

  • Diem Nguyen

    CEO

Balance Sheet

Forecast net cash (US$m)

166.6

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 16.1 63.0 41.1
Relative 18.3 53.8 16.7
52 week high/low US$9.9/US$4.3

Financials

SIGA Technologies announced a strategic step in fortifying its distribution partner, Meridian, allowing greater control over planning and executing its international development efforts, a key growth pillar. The amended terms allow the company to actively manage future promotion activities outside the US (effective 1 June 2024). While Meridian will continue to administer existing international contracts, we expect the renegotiated terms to benefit the bottom line in the medium term as SIGA gains traction internationally. In a separate development, and one that could have a positive read-across for SIGA’s TPOXX, Bavarian Nordic, a key vaccine peer, has commenced the commercial launch of its mpox vaccine Jynneos in the US, which has only been available through the strategic national stockpile to date. We view this as a positive milestone for this therapeutic group and SIGA as TPOXX is the only approved anti-viral treatment for a range of orthopox viruses (including mpox) in Europe and is currently undergoing clinical trials in the US for expansion into mpox (presently approved for smallpox).

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 110.8 43.2 43.7 45.56 18.7 14.9
2023A 139.9 84.2 87.8 94.96 9.0 6.4
2024E 190.6 104.4 108.4 122.41 7.0 10.2
2025E 169.3 96.3 100.7 118.95 7.2 8.0

Research

Update

Healthcare

SIGA Technologies — Onwards and upwards with strong FY23

Flash note

Healthcare

SIGA Technologies — New captain to steer the ship

Healthcare

Flash note

SIGA Technologies — Positive signals abound
View All

Thematics

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