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SIGA Technologies Inc. (SIGA-4.73%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details SIGA's operations as a commercial-stage pharmaceutical company, focusing on its lead product, TPOXX®, which is sold to the U.S. Government and international governments.
TPOXX® is an antiviral drug approved by the FDA for the treatment of smallpox, with additional approvals from the European Medicines Agency, Health Canada, and other international regulatory bodies.
The company reported revenues of $138.7 million for 2024, with $133.3 million from product sales and supportive services and $5.4 million from research and development activities.
SIGA's cost of sales and supportive services for 2024 was $31.3 million, reflecting expenses associated with manufacturing and delivery of TPOXX®.
Selling, general, and administrative expenses increased to $25.1 million, attributed to higher compensation expenses.
Research and development expenses decreased to $12.3 million, primarily due to lower vendor-related costs.
Net income for 2024 was $59.2 million, with a tax provision of $16.9 million, resulting in an effective tax rate of 22.2%.
The company had cash and cash equivalents of $155.4 million as of December 31, 2024, and believes its liquidity is sufficient for the next twelve months.
The filing outlines SIGA's significant contracts, including the 19C BARDA Contract, which involves the delivery of TPOXX® to the U.S. Strategic National Stockpile.
SIGA also discusses its international sales activities and agreements, including the International Promotion Agreement with Meridian Medical Technologies.
The company highlights ongoing clinical trials and research efforts related to TPOXX®, including trials for potential new indications and formulations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SIGA Technologies Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.