Summary by Moomoo AI
SIGA Technologies reported total revenue of $138.7 million for fiscal year 2024, with product sales and supportive services contributing $133.3 million and research and development activities generating $5.4 million. The revenue included $73.9 million in oral TPOXX sales and $26.2 million in IV TPOXX sales to the U.S. Government, along with $23.0 million from international sales to 13 countries.Operating expenses increased to $68.7 million from $56.3 million in 2023, primarily due to higher cost of sales from IV TPOXX manufacturing and increased compensation expenses. The company maintained strong profitability with net income of $59.2 million, though lower than $68.1 million in 2023, reflecting a 22.2% effective tax rate. Cash and equivalents stood at $155.4 million as of December 31, 2024.The company continued executing its 19C BARDA contract, with cumulative deliveries of $396.9 million in oral TPOXX and $25.4 million in IV TPOXX to the Strategic Stockpile. SIGA expanded its international presence by amending its promotion agreement with Meridian Medical Technologies and received regulatory approval for TPOXX in Japan. The Board declared a special dividend of $0.60 per share payable in April 2024.
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