This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

SIGA Technologies: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of SIGA Technologies (SIGA - Get Report) spiked higher in extended trades on Friday after the company said it's received a five-year contract from the federal government to provide two million courses of its smallpox antiviral medication ST-246.

The deal has a base value of $433 million, and includes options that could bring the value of the contract up to $2.8 billion if the maximum delivery of 12 million courses is exercised. SIGA was awarded the contract by the Biomedical Advanced Research and Development Authority of the Department of Health and Human Services.

The stock was last quoted at $15.88, up 12%, on volume of around 140,000, according to Based on a regular session close at $14.19, the shares had gained 3.4% so far in 2011.

"We believe that the funding to extend ST-246 to these vulnerable populations is critical to the future success of the U.S. government's smallpox biodefense efforts," said Eric Rose, the company's chairman and CEO, in a press release. "There are approximately 64 million children in the United States (through age 15), none of whom is currently vaccinated against this disease."

SIGA said ST-246 has been designated for "fast track" status by the Food and Drug Administration, "creating a path for expedited FDA review and eventual regulatory approval."

The four analysts covering the stock were already bullish ahead of the news with two rating the shares at strong buy, and two at buy. The median 12-month price target for the stock sits at $17.

Elsewhere in the after-hours session, Rambus (RMBS - Get Report) shares continued to sink, falling 2% to $15.50 on late volume of around 150,000. The move extended an 18% decline in the stock in the regular session after the company suffered a setback in its ongoing memory technology patent dispute with Micron Technology (MU) and Hynix Semiconductor.

Also, Merck (MRK - Get Report) got a slight lift on news of that the company has received regulatory approval of its Victrelis hepatitis C drug.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
MRK $58.34 1.02%
SIGA $1.90 -4.04%
RMBS $12.61 -0.79%
AAPL $126.37 2.53%
FB $83.20 -0.13%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs