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SIGA Technologies (NASDAQ: SIGA)

Last close As at 04/11/2024

USD7.00

▲ −0.21 (−2.91%)

Market capitalisation

USD500m

SIGA Technologies is a commercial-stage health security company focused on the treatment of smallpox and other orthopoxviruses. It has contracts with both the US and Canadian governments for TPOXX, its treatment for smallpox, and is expanding internationally.

With c 94,000 global cases and 32,000 cases in the US since 2022, mpox remains a growing concern especially given the rising numbers of Clade 1 (severe) cases in the Democratic Republic of the Congo. The FDA approved TPOXX for smallpox and it is now available to treat mpox through the CDC’s expanded access investigational new drug protocol. Currently, it is the only allowed therapy for all orthopoxvirus pathogens, including mpox, approved in both the UK and the EU.

Latest Insights

View More

Healthcare | Flash note

SIGA Technologies — TPOXX chalks up another DoD contract win

Healthcare | Flash note

SIGA Technologies — PALM 007 data warrant a closer look in mpox

Healthcare | Update

SIGA Technologies — Momentum building as the year progresses

Healthcare | Update

SIGA Technologies — Optimizing the TPOXX value proposition
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Sector

Healthcare

Equity Analyst

Arron Aatkar

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Daniel Luckshire

    Executive VP and CFO

  • Diem Nguyen

    CEO

Balance Sheet

Forecast net cash (US$m)

155.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 0.3 (19.5) 36.7
Relative 1.0 (24.7) 4.3
52 week high/low US$12.0/US$4.5

Financials

SIGA is a commercial-stage company focused on the treatment of smallpox and other orthopoxviruses. Lead drug TPOXX was approved by the FDA in 2018 for the treatment of smallpox and in the EU and UK under the broad label including all orthopox pathogens in 2022. SIGA reported a strong top-line performance in Q224, including product revenues of $20.7m, although gross margins dipped slightly to 40.5% due to a higher contribution from IV TPOXX. The order book continued to strengthen in H224, with an additional $9m contract win with the US Department of Defense. We view the PEP label expansion as a key future value driver, with an upside opportunity from potential US approval in mpox, in light of the World Health Organization recently declaring mpox a global health emergency.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 110.8 43.2 43.7 45.56 15.4 12.3
2023A 139.9 84.2 87.8 94.96 7.4 5.2
2024E 160.5 86.2 92.5 99.82 7.0 10.4
2025E 186.9 109.8 115.4 124.32 5.6 5.8

Research

Flash note

Healthcare

SIGA Technologies — PALM 007 data warrant a closer look in mpox

Update

Healthcare

SIGA Technologies — Momentum building as the year progresses

Healthcare

Flash note

SIGA Technologies — TPOXX chalks up another DoD contract win
View All

Thematics

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