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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

SIGA Technologies Reports Financial Results For The Third Quarter 2013

Stocks in this article: SIGA

NEW YORK, Nov. 6, 2013 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (Nasdaq:SIGA) today reported its financial results for the three and nine months ended September 30, 2013.

Revenue for the three months ended September 30, 2013 was $2.3 million, matching the revenue level in the third quarter of 2012, and the operating loss for the quarter was $5.6 million, compared to $5.4 million for the comparable quarter last year. Net loss per share was $0.09 per share and $0.06 per share for the three months ended September 30, 2013 and 2012, respectively.

Revenue for the nine months ended September 30, 2013 was $4.6 million compared to $6.5 million for the corresponding 2012 period. The operating loss for the period was $17.0 million compared to $17.3 million in the corresponding nine months of 2012. Net loss per share was $0.25 per share and $0.22 per share for the nine months ended September 30, 2013 and 2012, respectively.

Per share calculations include non-operational items such as adjustments to the fair value of warrants and benefit from income taxes.

In the third quarter of 2013, SIGA received approximately $101 million from the Biomedical Advanced Research and Development Authority (BARDA), of which approximately $96 million was for the aggregate delivery of approximately 725,000 courses of SIGA's antiviral drug for smallpox -- Arestvyr™ -- to the U.S. Strategic National Stockpile (SNS) and approximately $5 million was for reimbursement of expenses related to research and development services and supportive activities. In accordance with generally accepted accounting principles, substantially all of the cash received from BARDA has been classified as deferred revenue in SIGA's financial statements.

In the fourth quarter of 2013, SIGA began an optimization program to sharpen focus and increase efficiencies within its operations. This program, which includes a reduction in employee headcount, is intended to align the Company's resources, staff and efforts with the most promising growth opportunities. Eric A. Rose, CEO and Chairman of SIGA, noted, "The Arestvyr business is performing well and has established a strong competitive position. We are building on the successes of the Arestvyr business by laying the groundwork for the next phase of our innovation and growth." With the implementation of the optimization program, the Company is targeting a $6 million reduction in annual operating expenses.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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