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SIGA Technologies Reports Financial Results For The Second Quarter 2014

NEW YORK, July 31, 2014 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (Nasdaq:SIGA), a company specializing in the development and commercialization of solutions for serious unmet medical needs and biothreats, today reported its financial results for the three and six months ended June 30, 2014.

Revenue for the three months ended June 30, 2014 was $651,000, compared with $965,000 in the second quarter of 2013. The operating loss for the quarter was $4.7 million, compared with $5.6 million in second quarter of 2013. Net loss per share, which included a $1.8 million income tax benefit, was $0.06 per share for the three months ended June 30, 2014. In comparison, net loss per share, which included a $2.0 million income tax benefit, was $0.06 per share for the three months ended June 30, 2013.

Revenue for the six months ended June 30, 2014 was $1.2 million compared with $2.3 million for the corresponding 2013 period. The operating loss for the period was $10.4 million, compared with $11.4 million in the first half of 2013. Net loss per share, which included a $4.0 million income tax benefit, was $0.12 per share for the six months ended June 30, 2014. In comparison, net loss per share, which included a $4.2 million income tax benefit, was $0.15 per share for the six months ended June 30 2013.

In July, approximately 115,000 courses of Tecovirimat, also known as ST-246®, were accepted into the U.S. Strategic National Stockpile (the "Strategic Stockpile"). The Company received approximately $15.3 million in July from the Biomedical Advanced Research and Development Authority (BARDA) for the delivery and acceptance of these courses. In accordance with accounting principles generally accepted in the United States of America, substantially all of the cash received from BARDA and all the related cost of goods sold have been classified as deferred revenue and deferred costs, respectively, in SIGA's financial statements.

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