SIGA TECHNOLOGIES INC Q4 FY2025 earnings call

• SIGA remains focused on supporting governments globally for smallpox preparedness, serving as a leading provider of smallpox antiviral treatment to over 30 countries and NGOs. - Secured $27 million in funding in 2025 for pediatric formulation development and IV technology transfer. - U.S. government engagement remains active and constructive as BARDA contract nears completion. - EMA referral procedure for TPOCs in Europe: CHMP expected to meet in March, expecting confirmation of positive benefit-risk balance for certain indications and withdrawal of MPOX indication. - Ongoing collaboration with CDC for post-exposure prophylaxis program, targeting FDA submission of PEP indication in next 12 months. - Pediatric program with BARDA advancing, filed IND and initiated Phase I study with results expected in second half of 2026.

2025 product revenues totaled approximately $88 million. This includes $53 million of oral TPOCs and $26 million of IV TPOCs delivered under the current Barter 19-Z contract to the U.S. Strategic National Stockpile, as well as $6 million from international oral TPOC sales. At the end of the year, approximately $26 million of U.S. government orders are outstanding related to the March 2025 IV TPOCs procurement order. In addition, 2025 also includes $7 million of research and development revenues. Pre-tax operating income in 2025 was approximately $24 million, net income was approximately $23 million, and fully diluted income per share was 32 cents per share. Cash balance at December 31st, 2025 was approximately $155 million with no debt.

• No specific updated visibility on timing of next U.S. government RFP for TPOX at the time of the call. - Capital management strategy planned to be disciplined and flexible to support long-term value creation. - Stay tuned for more information on special cash dividends as early stages in historical timeframe. - Open to acquisitions or in-licensing opportunities in a disciplined and strategic manner. - $13 million order in Asia-Pacific region is a multi-year contract from a repeat customer with flexibility in size and timing of additional orders, and will continue to be actively engaged with international customers but details of additional orders uncertain as processes take time

Q: Based on ongoing discussions with authorities, any updated visibility on timing of next U.S. government RFP for TPOX?

A: No additional details on timing, but smallpox preparedness remains a focus and engaged with relevant officials.

Q: Thoughts on capital allocation, including special dividends and acquisitions?

A: Capital management disciplined and flexible for long-term value creation, timing of special dividend early, open to acquisitions/in-licensing in disciplined and strategic way.

Q: Details on international orders, including 13 million order?

A: $13 million order from Asia-Pacific repeat customer, multi-year contract with flexibility, but details of additional orders uncertain as processes take time