“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”
Currency in USD
Last close As at 02/06/2023
USD5.48
▲ −0.13 (−2.32%)
Market capitalisation
USD391m
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 United States, 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 (July 2022) and the EU (January 2022).
Managing Director - Head of Content, Healthcare
Daniel Luckshire
Executive VP and CFO
Phillip Gomez
CEO
Forecast net cash (US$m)
110.7
Forecast gearing ratio (%)
N/A
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (5.8) | (17.5) | (55.0) |
| Relative | (7.0) | (22.7) | (56.3) |
| 52 week high/low | US$26.1/US$5.2 |
SIGA Technologies is a commercial-stage company focused on the treatment of smallpox and other orthopoxvirus. Lead drug TPOXX was approved by the US FDA in 2018 for the treatment of smallpox and in the EU and UK under the broad label including all orthopox pathogens in 2022. Post material uptick in international orders due to mpox outbreak in FY22, we estimate replenishment of government stockpiles will continue to remain a pillar, driven by BARDA deliveries for oral (total $225m due in FY23 and FY24) and IV TPOXX. Readout data from PEP label expansion trials are expected in the next 60 days, which if favorable, should lead to a possible supplementary NDA by early 2024.
| Y/E Dec | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2021A | 133.7 | 89.7 | 89.1 | 90.61 | 6.0 | 35.8 |
| 2022A | 110.8 | 44.3 | 42.7 | 44.15 | 12.4 | 9.6 |
| 2023E | 175.2 | 97.2 | 96.7 | 104.47 | 5.2 | 6.1 |
| 2024E | 181.0 | 102.3 | 101.8 | 114.90 | 4.8 | 5.1 |
Managing Director - Head of Content, Healthcare
Get access to the very latest content matched to your personal investment style.
