SIGA Completes 19C Deliveries and Posts a Third-Quarter Loss

The Tip Desk · November 9, 2026 · 3 min read

Product sales were $0.2 million in the three months ended September 30, 2026, after $37.9 million in the second quarter.

SIGA Technologies, Inc. (SIGA), a commercial-stage pharmaceutical company, reported product sales of $0.2 million for the three months ended September 30, 2026, down from $37.9 million in the second quarter, after completing the year’s planned TPOXX deliveries.

Total revenues were $1.3 million in the third quarter, versus $41.0 million in the prior quarter. The company swung to an operating loss of $6.5 million from operating income of $13.9 million in the second quarter. The release said differences in operating margin between periods reflect different product mixes.

Net results moved to a $2.9 million loss, or $0.04 a share, from $12.5 million of net income, or $0.17 a share, in the second quarter.

Chief Executive Officer Diem Nguyen said the company continues to work with the U.S. Government toward a new TPOXX procurement contract and that the international business remains an important part of its strategy.

For the nine months ended September 30, 2026, SIGA delivered approximately $13 million of oral TPOXX to two international customers and approximately $26 million of IV TPOXX to the U.S. Strategic National Stockpile under the 19C contract, fulfilling the final procurement order under that contract. In the second quarter the company delivered about $24 million of IV TPOXX to the stockpile and about $13 million of oral TPOXX to two international customers.

Product sales for the nine months were $41.6 million, compared with $85.8 million a year earlier. Total revenues were $48.6 million, versus $90.8 million. Operating income was $2.1 million, versus $33.2 million. Net income was $6.1 million, or $0.09 a share, versus $28.7 million, or $0.40 a share.

In October 2026, the Canadian Department of National Defence awarded SIGA a contract for the procurement of oral TPOXX. The contract provides for the purchase of up to approximately $15 million of oral TPOXX by March 31, 2031, of which approximately $9 million represents firm commitments over the first three years and approximately $6 million is subject to option exercise. Nguyen said the company is actively pursuing opportunities with other international governments to further diversify its customer base.

Cash and cash equivalents were $116.4 million at September 30, 2026, down from $155.0 million at year-end 2025. Deferred IV TPOXX revenue was zero, versus $10.2 million at year-end 2025. Inventory was $41.6 million.

A special cash dividend of $0.60 a share was declared March 26, 2026, and paid April 23, 2026.

Dennis Hruby, Executive Vice President and Chief Scientific Officer, retired effective November 9, 2026, after more than 30 years with the company. He will continue in an advisory capacity.

The company said it remains focused on securing new procurement contracts and orders that can drive the business going forward, while continuing to work with the U.S. Government toward a new TPOXX procurement contract.