This Day On The Street
Continue to site
ADVERTISEMENT
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

SIGA Technologies Reports Financial Results For The Fourth Quarter And Year Ended 2012

NEW YORK, March 6, 2013 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (Nasdaq:SIGA), a company specializing in the development of pharmaceutical agents to fight pathogens capable of use as bioweapons, today reported its financial results for the quarter and year ended December 31, 2012.

Revenue for the three months ended December 31, 2012 was $2.5 million, compared to $5.0 million in the fourth quarter of 2011, and the operating loss for the quarter was $5.3 million, compared to $7.8 million for the comparable quarter last year. Net loss per share, which included a $1.8 million income tax benefit, was $0.06 for the three months ended December 31, 2012. In comparison, net loss per share, which included a $1.6 million income tax benefit, was $0.11 for the three months ended December 31, 2011.

Revenue for the year ended December 31, 2012 was $9.0 million, compared to $12.7 million for 2011. The operating loss for the year was $22.6 million; in comparison, there was an operating loss of $31.4 million in 2011. Net loss per share, which included a $7.9 million income tax benefit, was $0.28 for the year ended December 31, 2012, compared to earnings per diluted share of $0.09 in 2011. Earnings per diluted share for 2011 included a $36.0 million income tax benefit that was primarily related to a partial release of a valuation allowance.

2012 Key Financial Results

Revenues

For the years ended December 31, 2012 and 2011, revenue was $9.0 million and $12.7 million, respectively, a decrease of $3.7 million. Revenues decreased mainly due to the net impact of a $5.0 million decrease in contract and grant revenues related to Arestvyr TM (also known as ST-246®), dengue and broad spectrum antivirals, offset by a $1.2 million increase in grant revenues related to Lassa fever antivirals. The largest portion of the net decrease in revenues comes from the restructuring of an NIH Arestvyr contract in connection with entry into the BARDA Contract. Additionally, $1.2 million of the revenue decrease is attributable to the conclusion in late 2011 of two federal grants supporting the development of a broad spectrum antiviral.

Research and Development

For the years ended December 31, 2012 and 2011, we incurred research and development expenses of $18.2 million and $18.4 million, respectively. Decreases in vendor-related expenses supporting the development of Arestvyr, dengue and broad-spectrum antivirals were offset by increases in expenses related to various operational initiatives, employee compensation and vendor-related costs supporting the development of Lassa fever antivirals.

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs