SIGA Technologies Reports Q3 2024 Results

TL;DR

SIGA sales slightly down YTD through Q3 2024 vs 2023. $71M vs $71.3M.

AI Summary

SIGA Technologies Inc. reported its third-quarter 2024 results, with product sales and supportive services totaling $71,091,616 for the nine months ended September 30, 2024. This compares to $71,369,274 for the same period in 2023. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides investors with an update on SIGA Technologies' financial performance for the third quarter of 2024, indicating a slight decrease in year-to-date sales compared to the previous year.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $71.09M — Product Sales and Supportive Services (9 months ended 09/30/2024) (Represents the company's primary revenue stream for the period.)
• $71.37M — Product Sales and Supportive Services (9 months ended 09/30/2023) (Provides a year-over-year comparison for revenue.)
• 12/31 — Fiscal Year End (Indicates when the company's financial year concludes.)

Key Players & Entities

• SIGA Technologies Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 2023 (date) — Comparative period for financial results
• $71,091,616 (dollar_amount) — Product sales and supportive services for nine months ended Sept 30, 2024
• $71,369,274 (dollar_amount) — Product sales and supportive services for nine months ended Sept 30, 2023

FAQ

Filing Documents

• siga20240930_10q.htm (10-Q) — 801KB
• ex_734039.htm (EX-10.3) — 42KB
• ex_734040.htm (EX-10.4) — 13KB
• ex_734041.htm (EX-10.5) — 8KB
• ex_734042.htm (EX-10.6) — 21KB
• ex_734043.htm (EX-10.7) — 19KB
• ex_707711.htm (EX-31.1) — 15KB
• ex_707712.htm (EX-31.2) — 15KB
• ex_707713.htm (EX-32.1) — 6KB
• ex_707714.htm (EX-32.2) — 6KB
• 0001437749-24-033966.txt ( ) — 5072KB
• siga-20240930.xsd (EX-101.SCH) — 53KB
• siga-20240930_cal.xml (EX-101.CAL) — 32KB
• siga-20240930_def.xml (EX-101.DEF) — 288KB
• siga-20240930_lab.xml (EX-101.LAB) — 272KB
• siga-20240930_pre.xml (EX-101.PRE) — 319KB
• siga20240930_10q_htm.xml (XML) — 840KB

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 2 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

-OTHER INFORMATION

PART II-OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

SIGNATURES

SIGNATURES 25 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

- Condensed Consolidated Financial Statements

Item 1 - Condensed Consolidated Financial Statements SIGA TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) September 30, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 99,269,756 $ 150,145,844 Accounts receivable 12,089,010 21,130,951 Inventory 62,024,473 64,218,337 Prepaid expenses and other current assets 7,302,979 3,496,028 Total current assets 180,686,218 238,991,160 Property, plant and equipment, net 1,411,315 1,331,708 Deferred tax asset, net 12,104,765 11,048,118 Goodwill 898,334 898,334 Other assets 253,605 2,083,535 Total assets $ 195,354,237 $ 254,352,855 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 1,260,762 $ 1,456,316 Accrued expenses and other current liabilities 7,184,514 10,181,810 Deferred IV TPOXX revenue 13,729,440 20,788,720 Income tax payable 127,815 21,690,899 Total current liabilities 22,302,531 54,117,745 Other liabilities 3,609,572 3,376,203 Total liabilities 25,912,103 57,493,948 Commitments and contingencies Stockholders' equity Common stock ($ .0001 par value, 600,000,000 shares authorized, 71,369,274 and 71,091,616 , issued and outstanding at September 30, 2024 and December 31, 2023, respectively) 7,137 7,109 Additional paid-in capital 238,033,324 235,795,420 Accumulated deficit ( 68,598,327 ) ( 38,943,622 ) Total stockholders' equity 169,442,134 196,858,907 Total liabilities and stockholders' equity $ 195,354,237 $ 254,352,855 The accompanying notes are an integral part of these financial statements. 2 Table of Contents SIGA TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) (UNAUDITED) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues Product sales and supportive services $ 8,942,875 $ 7,958,289 $ 53,496,869 $ 14,924,058 Research and developme

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View this 10-Q filing on SEC EDGAR