SIGA TECHNOLOGIES INC Q1 FY2025 earnings call

• SIGA continued momentum from 2024 into 2025, with steady progress on key initiatives. - Had $6 million international sale in Q1, start of substantial sales ahead. - Regulatory approvals for TPOXX in U.S., Canada, Europe, U.K., Japan. - U.S. had $70 million of outstanding TPOXX orders, with deliveries in April and expected third quarter delivery. - U.S. government exercised option for $26 million IV TPOXX and modified agreement to add $14 million for manufacturing. - Advancing PEP program with CDC and FDA, targeting FDA submission for PEP indication in first half of 2026. - Pediatric program for PEP progressing, preparing to submit IND in second half of 2025. - Board declared special cash dividend of $0.60 per share. - Key strategic priorities: continuing partnership with U.S. government, advancing TPOXX regulatory approvals, cultivating strategic partnerships, moving into complementary therapeutic areas.

In the first quarter, product revenues were approximately $6 million, attributable to an international sale. Research and development revenues were approximately $1 million. The U.S. had about $70 million of outstanding TPOXX orders for delivery to the Strategic National Stockpile, with $53 million of oral TPOXX and $9 million of IV TPOXX delivered in April, and additional IV TPOXX expected by end of third quarter. The $6 million international sale in Q1 is seen as the start of substantial product sales over the next few months. Product revenues of $6 million contributed to the overall financials, with research and development revenues adding $1 million.

• Expect the $6 million international sale in Q1 to be the start of substantial product sales over the next few months. - Additional amounts of IV TPOXX expected to be delivered by end of third quarter. - U.S. government exercised option for $26 million IV TPOXX to be delivered in 2026. - Government modified agreement to add $14 million for manufacturing activities over next 2 to 3 years. - Targeting FDA submission of PEP indication for the first half of 2026.

• Uncertainty around recent policies of the Trump government regarding TPOXX RFP timeline. - Macro tariff environment is unpredictable across industries, though currently no impact on business noted.

Q: View on expected RFP timeline for TPOXX amidst Trump government policy uncertainty A: Diem noted SIGA has been active with U.S. government, recent delivery of TPOXX, exercise of procurement option, and $14 million funding for manufacturing. SIGA will engage with ASPR and others on RFP when ready Q: Interim insights on PEP label expansion program sample analysis A: Diem said they continue to advance PEP program, FDA has engaged with real-time guidance, CDC finalizing approach, targeting FDA submission in first half of 2026 Q: Expectations on share buybacks near term A: Dan said they consider capital management broadly, including dividends, share repurchases, and investments, with the special dividend reflecting confidence in future business Q: Impact of U.S. and reciprocal tariffs on international growth efforts A: Dan said no impact currently, but will monitor macro tariff environment, and U.S.-based supply chain for TPOXX is magnified in this environment Q: Details on $14 million contract modification A: Diem said this is a positive sign of administration's belief in importance of TPOXX, allowing tech transfer of IV formulation to new third-party contract manufacturer