SIGA Technologies - International expansion for oral TPOXX
SIGA Technologies announced that it has secured procurement orders for its oral treatment, TPOXX (tecovirimat), totaling c $13m. The figure includes $11m for initial procurement from two new international jurisdictions, one in Europe and one in Asia Pacific (APAC), and $2m from an existing customer in the APAC region. The orders are significant as they diversify SIGA’s revenues and represent the first response from the international community to stockpile oral TPOXX as a result of the ongoing global monkeypox outbreak. While it is unclear how the outbreak will progress, there is clear potential for it to serve as a catalyst for SIGA’s business and provide further commercial opportunities. We will revisit our estimates following this recent news.SIGA Technologies is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks, vaccines and therapies for emerging infectious diseases, and health preparedness. The company's primary product is an oral formulation of TPOXX?, an antiviral drug for the treatment of human smallpox disease caused by variola virus. The United States Food and Drug Administration has approved oral TPOXX? for the treatment of smallpox.
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