SIGA Technologies Announces First International Delivery of Oral TPOXX

- 2,500 Courses Delivered to the Canadian Department of National Defence -

NEW YORK, June 01, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the health security market, today announced its first international delivery of TPOXX (tecovirimat), with 2,500 courses delivered to the Canadian Department of National Defence (CDND).  On April 3, 2020, the Company previously announced that the CDND is expected to purchase up to 15,325 courses of oral TPOXX over four years for a total value of $14.3 million. Remaining purchases of 12,825 courses, at the option of the CDND, are expected to occur after regulatory approval of oral TPOXX by Health Canada.   Meridian Medical Technologies, Inc. (“Meridian”, a Pfizer Company), SIGA’s partner for international promotion of TPOXX, is the counterparty to the Canadian Contract and SIGA is responsible for the manufacture and delivery of oral TPOXX.

In addition to the Canadian product delivery, SIGA also expects to make deliveries of oral TPOXX to the U.S. Government this month.  As previously disclosed, SIGA expects to deliver $101.3 million of oral TPOXX to the U.S. Government by April 2021, with deliveries starting this month.  These deliveries will be in connection with the recent option exercises under its 2018 Biomedical Advanced Research and Development Authority (BARDA) contract (“19C BARDA Contract”). In addition to the options recently exercised, SIGA’s full 19C BARDA Contract has up to $414 million of procurement-related options remaining for future exercise.

“We are pleased to be moving quickly to deliver on our new U.S. and international orders of TPOXX and we look forward to continuing to work with BARDA and CDND on future options and deliveries,” said Dr. Phil Gomez, CEO of SIGA. “We are working on the filing of our regulatory submission to Health Canada later this year and delivery of additional courses to CDND under this contract following product approval. Meridian’s ability to secure this opportunity to support smallpox preparedness in Canada is evidence of its leadership in international health security and of TPOXX’s importance for international biodefense preparedness.  The COVID-19 pandemic has highlighted the importance for governments around the world to quickly build robust stockpiles in order to protect the health and economic well-being of the general population from other biological threats, and we look forward to working with Meridian to address the global need for TPOXX as a critical component of robust smallpox preparedness strategies.”