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SIGA Technologies, Inc., Q2 2012 Guidance/Update Call, Aug 06, 2012

Stocks in this article: SIGA

SIGA Technologies Inc. (SIGA)

August 06, 2012 4:30 pm ET


Todd Fromer - Managing Partner

Eric A. Rose - Executive Chairman, Chief Executive Officer and Member of National Biodefense Science Board

Daniel J. Luckshire - Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Secretary


Adnan S. Butt - RBC Capital Markets, LLC, Research Division

Joaquin Philip Horton



Good day, ladies and gentlemen, and welcome to the SIGA Technologies Second Quarter Business Update Conference Call [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn the conference over to Todd Fromer, Managing Partner of KCSA. You may begin.

Todd Fromer

Thank you. And thank you, all, for joining us today. This is Todd Fromer, Managing Partner of KCSA Strategic Communications, Investor Relations Consultant to SIGA Technologies. Hosting the call today are Dr. Eric Rose, Chief Executive Officer and Chairman; and Daniel Luckshire, the Chief Financial Officer. Today's call is being simultaneously webcast and is available on SIGA's website. A replay of the call will also be available in recorded format and on the company's website.

Before we begin today, I would like to remind everyone that this conference call contains statements that constitute forward-looking statements. A Safe Harbor statement covering this call will be read at the end of the call and can be found in our press release for financial results for the second quarter ended June 30, 2012.

With that said, I'd like to now turn the call over to Dr. Eric Rose. Eric, the floor is yours.

Eric A. Rose

Thank you, Todd. Good afternoon, and thank you, all, for joining us for our business update call. During the call, we'll provide you with a brief business update, and then we will open the call for questions. Let me start by saying that it's been a busy and productive 3 months. Commercially, we have continued to execute our operational plan for the BARDA contract, taking tangible steps toward our commercial goals for ST-246. And on the legal front, we've recently filed our brief and our appeal to the Delaware Supreme Court, which we believe makes a strong case for a change in the Chancery Court's ruling. In the event that notwithstanding our appeal, any net profits of ST-246 would have to be shared with PharmAthene following an appeal, we are pleased by the May 31 ruling by the Delaware Chancery Court, in which the court accepted many of the arguments that SIGA made concerning the net profit definition, including the court's decision to include all product-related expenses, whenever incurred, in order to best reflect the concepts of net profit. In some, we are making progress on many fronts and there's much to look forward to.

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