SIGA Technologies Inc

SIGA Technologies is a U.S.-based pharmaceutical company focused on developing and commercializing treatments for orthopoxvirus infections, centered on its oral antiviral product TPOXX® (tecovirimat). The company’s business combines drug development, regulatory maintenance, intellectual property management, and third-party manufacturing and distribution arrangements across the United States and international markets.

25,7 %

68,6 %

24,6 %

−31,8 %

11.83

9.10

— SIGA Technologies Inc
%
TPOXX® oral antiviral80% Commercial sales and supply of oral TPOXX® for orthopoxvirus-related indications and government stockpiles.
Supportive services10% Contract-related supportive services tied to product delivery, performance obligations, and customer programs.
International sales and promotion arrangements10% Sales and commercialization activity outside the United States through international contract structures.

SIGA sells primarily to government customers and public-health procurement channels that buy TPOXX® for biodefense...

  • U.S. Government / BARDAprimary

    Buys oral TPOXX® under government supply contracts for preparedness and response use.

  • International government and public-health customersprimary

    Purchases oral TPOXX® for national stockpiles or outbreak response through country-specific arrangements.

  • Promotion and distribution counterpartiessecondary

    Commercial partners that market or facilitate sales outside the U.S. under defined territory agreements.

SIGA is headquartered in the United States, where it retains sales and marketing rights for oral TPOXX® and manages...

  • •United States is the core market and operating base
  • •U.S. government contracts are a key demand channel
  • •International sales are handled through country-specific deliveries
  • •Non-U.S. commercialization depends on local regulatory approvals
  • •Manufacturing is outsourced to third-party CMOs rather than owned plants

SIGA’s strategy centers on maintaining and extending the commercial and regulatory position of TPOXX® while preserving...

01
Defend and expand TPOXX® intellectual propertymedium-term

Patent and trademark protection supports exclusivity and commercial durability.

02
Preserve regulatory access across jurisdictionsmedium-term

Market access depends on maintaining approvals and meeting local requirements.

03
Reliably execute outsourced manufacturing and deliveryshort-term

The company depends on CMOs for production, packaging and testing.

SIGA’s business is concentrated in a single product and depends on government procurement, regulatory approvals, and...

high

Dependence on U.S. government contracts

A large share of demand is tied to BARDA and other public-sector procurement.

Scope
Revenue timing and contract continuity
Materiality
high
high

Third-party manufacturing and supply-chain disruption

SIGA does not own manufacturing infrastructure and relies on CMOs.

Scope
Production, packaging, testing and delivery schedules
Materiality
high
high

Patent and trademark protection challenges

Exclusivity depends on maintaining broad IP coverage across jurisdictions.

Scope
Competitive position and product lifecycle
Materiality
high
medium

Regulatory approval risk outside the United States

Foreign commercialization requires country-specific approvals and compliance.

Scope
International market access
Materiality
medium
medium

Cybersecurity and data integrity incidents

A breach could affect clinical, manufacturing or quality records.

Scope
Operations, regulatory submissions and recovery costs
Materiality
medium
Revenue recognition over time
Affects timing of revenue, cost of sales and supportive services
Cumulative catch-up adjustments
Can create volatility in reported quarterly revenue and margins
International sales timing
Can shift revenue between quarters and between U.S. and foreign markets

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: 29/04/2026