SIGA Technologies - Second contract win from the US DoD in 2022
SIGA Technologies has announced a second procurement contract worth up to $10.7m from the US Department of Defense (DoD) for the procurement of oral TPOXX, of which $5.1m is targeted for delivery in 2022. This win follows a $7.4m procurement contract from the DoD in May 2022. Amid the spate of new contract wins globally (including $76m in international orders) for TPOXX, we expect the strong order momentum to continue as countries stockpile treatments due to the ongoing monkeypox outbreak. We maintain our valuation of $19.80 per SIGA share.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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