SIGA Technologies' Q4 2024: Unpacking Contradictions in RFP Timings, TPOXX Deliveries, and Future Diversification Plans

These are the key contradictions discussed in SIGA Technologies' latest 2024Q4 earnings call, specifically including: RFP Timing and Delivery Process, Potential for Future Diversification, TPOXX Delivery Timelines, and US Government Funding Impact on RFP for TPOXX:



Strong Financial Performance:
- SIGA reported product sales of $133 million for 2024, up approximately 2% from 2023, marking the second consecutive year of product sales growth.
- This growth was driven by continued partnerships with the U.S. government and advancing regulatory approvals for TPOXX, which plays a critical role in national security.

International Market Expansion:
- SIGA's international sales reached $23 million in 2024, with a notable sale in East Asia for $11 million, more than double the largest prior individual TPOXX sale in the region.
- The company's assumption of international promotional responsibilities and regulatory approvals, such as in Japan, contributed to this expansion.

Strategic Partnerships and Pipeline Diversification:
- SIGA announced an exclusive license to a portfolio of preclinical monoclonal antibodies from Vanderbilt University, with potential applications in treating smallpox and mpox.
- This license complements SIGA's existing TPOXX franchise and is part of its strategy to diversify its pipeline and expand global access to TPOXX.

Outlook and Contract Renewal:
- SIGA anticipates completing a new contract with the ASPR in 2025, aiming to secure continued supply of TPOXX to the Strategic National Stockpile.
- The company is well-positioned to engage with the new ASPR and expects national security to remain a priority, despite changes in administration.