SIGA Reports Financial Results for Three and Nine Months Ended September 30, 2026

Canada committed approximately $9 million over the contract’s first three years; approximately $6 million more depends on option exercises.

Rhea-AI Summary

SIGA Technologies (SIGA) reported a narrower third-quarter net loss of $2.9 million as revenue fell from the prior-year quarter. Revenue was $1.3 million versus $2.6 million, while diluted loss per share narrowed to $0.04 from $0.09. For the nine months ended September 30, 2026, revenue declined to $48.6 million from $90.8 million, and net income fell to $6.1 million from $28.7 million.

In October, the Canadian Department of National Defence awarded SIGA a contract for up to approximately $15 million of oral TPOXX through March 31, 2031: approximately $9 million in firm commitments and approximately $6 million subject to options. Nine-month deliveries included approximately $13 million to international customers and approximately $26 million of IV TPOXX, completing the final procurement order under the 19C contract. SIGA continues working toward a new U.S. government procurement contract.

13 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 10 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Canadian defence contract adds approximately $9 million in firm commitments over its first three years. 4% of market cap
• Moderate pointThird-quarter net loss narrowed to $2.9 million from $6.4 million; diluted loss narrowed to $0.04 from $0.09.
• Moderate pointTotal liabilities declined to $9,394,256 at September 30, 2026 from $20,645,862 at December 31, 2025.
• Minor pointThird-quarter operating loss narrowed to $6.5 million from $10.2 million a year earlier.
• Minor pointThird-quarter pretax loss narrowed to $5.5 million from $8.4 million a year earlier.

8 minor points

• Minor pointNine-month international oral TPOXX deliveries totaled approximately $13 million to two customers.
• Minor pointNine-month IV TPOXX deliveries of approximately $26 million completed the final procurement order under the 19C contract.
• Minor pointSpecial dividend of $0.60 per share was paid on April 23, 2026.
• Minor pointNine-month research and development revenue increased to $6,919,898 from $4,944,963 a year earlier.
• Minor pointCost of sales and supportive services fell to $575,660 quarterly and $21,077,729 year-to-date, versus $1,002,083 and $26,714,283.
• Minor pointSelling, general and administrative expenses fell to $4,621,909 quarterly and $14,443,914 year-to-date, versus $4,786,511 and $15,949,749.
• Minor pointResearch and development expenses fell to $2,639,444 quarterly and $10,975,788 year-to-date, versus $7,053,985 and $14,914,895.
• Minor pointIncome tax benefit rose to $2,589,514 quarterly; nine-month benefit was $789,904 versus a $9,636,811 provision.

Negative

• Moderate pointNine-month revenue fell to $48.6 million from $90.8 million a year earlier.
• Moderate pointNine-month net income fell to $6.1 million from $28.7 million; diluted EPS declined to $0.09 from $0.40.
• Moderate pointCash declined to $116,380,386 at September 30, 2026 from $154,966,414 at December 31, 2025.
• Minor pointThird-quarter revenue fell to $1.3 million from $2.6 million a year earlier.
• Minor pointProduct sales fell to $0.2 million quarterly and $41.6 million year-to-date, versus $0.9 million and $85.8 million.

5 minor points

• Minor pointNine-month operating income declined to $2.1 million from $33.2 million a year earlier.
• Minor pointNine-month pretax income declined to $5.3 million from $38.3 million a year earlier.
• Minor pointCanadian contract purchases of approximately $6 million remain subject to customer option exercise.
• Minor pointThird-quarter research and development revenue declined to $1,083,276 from $1,730,252 a year earlier.
• Minor pointOther income declined to $1,037,470 quarterly and $3,261,847 year-to-date, versus $1,866,693 and $5,143,981.

News Explained

SIGA declared a special cash dividend of $0.60 per share on March 26, 2026, paid it on April 23, 2026 to shareholders of record on April 7, 2026; the distribution is complete, so this release describes cash already returned to eligible holders, not a new payment.

Key Figures

Third-quarter total revenues: $1.3 million vs. $2.6 million Third-quarter net loss: ($2.9 million) vs. ($6.4 million) Nine-month product sales: $41.6 million vs. $85.8 million +4 more

Third-quarter total revenues

$1.3 million vs. $2.6 million

Three months ended September 30, 2026 vs. 2025

Third-quarter net loss

($2.9 million) vs. ($6.4 million)

Three months ended September 30, 2026 vs. 2025

Nine-month product sales

$41.6 million vs. $85.8 million

Nine months ended September 30, 2026 vs. 2025

Nine-month total revenues

$48.6 million vs. $90.8 million

Nine months ended September 30, 2026 vs. 2025

Nine-month net income

$6.1 million vs. $28.7 million

Nine months ended September 30, 2026 vs. 2025

Nine-month diluted earnings per share

$0.09 vs. $0.40

Nine months ended September 30, 2026 vs. 2025

Canadian oral TPOXX contract

Up to approximately $15 million; approximately $9 million firm and $6 million subject to options

Purchases by March 31, 2031

Previous Earnings Reports

2 past events · Latest: Aug 06

Same Type 2 events

1. Aug 06

   Earnings results

   24h Move

   -2.2%

   First-half 2026 revenue and earnings were lower year over year despite continued profitability.

2. Nov 06

   Earnings results

   24h Move

   -19.9%

   Nine-month 2025 product sales and total revenue provide a comparable prior-year baseline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

deferred tax asset, additional paid-in capital, accumulated deficit

3 terms

deferred tax asset financial

"Deferred tax asset, net"

A deferred tax asset is an accounting recognition that a company expects to pay less tax in the future because of past losses or timing differences between accounting and tax rules; think of it as an IOU from the tax system that can reduce future tax bills. It matters to investors because it can boost future cash flow and reported profits if the company generates enough taxable income to use it, but its value depends on realistic prospects for future earnings.

additional paid-in capital financial

"Additional paid-in capital"

Amount of money shareholders have paid to a company for shares that is above the stock’s nominal or par value; think of it as the extra premium paid when a group buys a ticket that has a low listed price. It matters to investors because it represents permanent capital on the balance sheet that can cushion losses, affect book value per share and indicate how much fresh cash equity holders have contributed beyond the minimum share value.

accumulated deficit financial

"Accumulated deficit"

Accumulated deficit is the running total of a company’s past net losses minus any profits, showing how much the business has eaten into its own funds over time—think of it like a bank account that’s been overdrawn by repeated shortfalls. It matters to investors because a large accumulated deficit reduces the cushion that protects owners and creditors, can limit dividends or borrowing, and signals how much funding the company may need to reach profitability.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Awarded $15 Million Procurement Contract from Canadian Department of National Defence for Oral TPOXX in October 
  
• Corporate Update Conference Call Today at 4:30 PM ET
  

NEW YORK, Nov. 09, 2026 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (Nasdaq: SIGA), a commercial-stage pharmaceutical company, today reported financial results for the three and nine months ended September 30, 2026.

“While we continue to work with the U.S. Government toward a new TPOXX procurement contract, our international business remains an important part of our strategy,” stated Diem Nguyen, Chief Executive Officer. “We recently announced a $15 million contract with the Canadian Department of National Defence, a longstanding customer, and are actively pursuing opportunities with other international governments to further diversify our customer base over time.”

Summary Financial Results

($ in millions, except per share amounts)	Three Months Ended September 30								Nine Months Ended September 30
		2026				2025			2026			2025
Product sales (1)	$0.2				$0.9				$41.6			$85.8
Total revenues (2)	$1.3				$2.6				$48.6			$90.8
Operating (loss)/income(3) (4)	($6.5)				($10.2)				$2.1			$33.2
(Loss)/income before income taxes(3)	($5.5)				($8.4)				$5.3			$38.3
Net (loss)/income	($2.9)				($6.4)				$6.1			$28.7
Diluted (loss) / income per share	($0.04)				($0.09)				$0.09			$0.40

(1) Includes supportive services related to product sales.
(2) Includes research and development revenues.
(3) Operating (loss)/income excludes, and (loss)/income before income taxes includes, other income. Both line items exclude the impact of income taxes.
(4) Differences in operating (loss)/income margin between periods reflect different product mixes in those periods.

Year-to-Date Business and Operational Activity

• In October, the Canadian Department of National Defence (CDND) awarded a contract to SIGA 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 of the contract and approximately $6 million is subject to option exercise by the CDND.
  
• For the nine months ended September 30, 2026, the Company delivered approximately $13 million of oral TPOXX to two international customers.
• For the nine months ended September 30, 2026, the Company delivered approximately $26 million of IV TPOXX to the U.S. Strategic National Stockpile (SNS) under the 19C contract, fulfilling the final procurement order under that contract.
  

Year-to-Date Capital Management Activity
On March 26, 2026, a special cash dividend of $0.60 per share was declared, and was paid on April 23, 2026, to shareholders of record at the close of business on April 7, 2026.

Retirement of Chief Scientific Officer
Dennis Hruby, Ph.D., Executive Vice President and Chief Scientific Officer, will retire effective today, concluding more than 30 years with the Company. Following his retirement, Dr. Hruby will continue to support the Company in an advisory capacity.

Conference Call and Webcast
SIGA will host a conference call and webcast to provide a business update today, Monday, November 9, 2026, at 4:30 P.M. ET.

Participants may access the call by dialing 1-800-717-1738 for domestic callers or 1-646-307-1865 for international callers. A live webcast of the call will also be available on the Company's website at www.siga.com in the Investor Relations section of the website. Please log in approximately 5-10 minutes prior to the scheduled start time.

A replay of the call will be available for two weeks by dialing 1-844-512-2921 for domestic callers or 1-412-317-6671 for international callers and using Conference ID: 1130564. The archived webcast will be available in the Investor Relations section of the Company's website.

ABOUT SIGA
SIGA is a commercial-stage pharmaceutical company and leader in global health focused on the development of innovative medicines to treat and prevent infectious diseases. With a primary focus on smallpox, we are dedicated to protecting humanity against the world’s most severe infectious diseases, including those that occur naturally, accidentally, or intentionally. Through partnerships with governments and public health agencies, we work to build a healthier and safer world by providing essential countermeasures against these global health threats. For more information about SIGA, visit www.siga.com.

Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements relating to SIGA’s future business performance and plans. Forward-looking statements include statements regarding our future financial position, business strategy, plans and objectives of management for future operations, and delivering products to domestic and international customers under procurement contracts. The words “may,” “continue,” “estimate,” “intend,” “plan,” “will,” “believe,” “project,” “expect,” “seek,” “anticipate,” “could,” “should,” “target,” “goal,” “potential” and similar expressions may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Such forward-looking statements are subject to various known and unknown risks and uncertainties, and SIGA cautions you that any forward-looking information provided by or on behalf of SIGA is not a guarantee of future performance. SIGA’s actual results could differ materially from those anticipated by such forward-looking statements due to a number of factors, some of which are beyond SIGA’s control, including, but not limited to, (i)  the risk that SIGA is not able to secure in a timely manner additional new contracts with the U.S. Government to substantially maintain or expand the U.S. Government stockpile of TPOXX^®, (ii) the risk that SIGA may not complete the remaining performance under the 19C BARDA Contract with the U.S. Biomedical Advanced Research and Development Authority on schedule or in accordance with contractual terms, (iii) the risk that the nascent international biodefense market does not develop to a degree that allows SIGA to continue to successfully market TPOXX® internationally, (iv) the risk that potential products, including potential alternative uses or formulations of TPOXX^® that appear promising to SIGA or its collaborators, cannot be shown to be efficacious or safe in subsequent pre-clinical or clinical trials, (v) the risk that target timing for deliveries of product to customers, and the recognition of related revenues, are delayed or adversely impacted by the actions, or inaction, of contract manufacturing organizations, or other vendors, within the supply chain, or due to coordination activities between the customer and supply chain vendors, (vi) the risk that SIGA or its collaborators will not obtain or maintain appropriate or necessary governmental approvals to market these or other potential products or uses, (vii) the risk that any challenge to SIGA’s patent and other property rights, if adversely determined, could affect SIGA’s business and, even if determined favorably, could be costly, (viii) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or documentation that will delay or prevent SIGA from seeking, obtaining or maintaining needed approvals to market these products, (ix) the risk that changes in domestic or foreign economic and market conditions may affect SIGA’s ability to advance its research or may affect its products adversely, (x) the effect of federal, state, and foreign regulation, including drug regulation and international trade regulation, on SIGA’s businesses, (xi) the impacts of significant recent shifts in trade policies, including the imposition of tariffs, retaliatory tariff measures, and subsequent modifications or suspensions thereof, and market reactions to such policies and resulting trade disputes, (xii) the risk of disruptions to SIGA’s supply chain for the manufacture of TPOXX^®, causing delays in SIGA’s research and development activities, causing delays or the re-allocation of funding in connection with SIGA’s government contracts, or diverting the attention of government staff overseeing SIGA’s government contracts, (xiii) risks associated with actions or uncertainties surrounding the U.S. debt ceiling, or changes in the U.S. political environment, and (xiv) the risk that the U.S. or foreign governments' responses (including inaction) to national or global economic conditions or infectious diseases, are ineffective and may adversely affect SIGA’s business, as well as the risks and uncertainties included in Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2025 and SIGA's subsequent filings with the Securities and Exchange Commission. SIGA urges investors and security holders to read those documents free of charge at the SEC's website at http://www.sec.gov. All such forward-looking statements are current only as of the date on which such statements were made. SIGA does not undertake any obligation to update publicly any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Investor and Media Contact
Suzanne Harnett
sharnett@siga.com

SIGA TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of
		September 30, 2026				December 31, 2025
ASSETS
Current assets
Cash and cash equivalents		$	116,380,386			$	154,966,414
Accounts receivable			2,016,213				3,263,736
Inventory			41,594,073				49,054,873
Prepaid expenses and other current assets			5,547,353				5,571,841
Total current assets			165,538,025				212,856,864
Property, plant and equipment, net			1,376,079				1,090,824
Deferred tax asset, net			4,706,158				4,428,519
Goodwill			898,334				898,334
Other assets			129,507				192,893
Total assets		$	172,648,103			$	219,467,434
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable		$	480,572			$	824,522
Accrued expenses and other current liabilities			6,222,914				6,520,057
Deferred IV TPOXX® revenue			—				10,240,000
Income tax payable			34,123				408,000
Total current liabilities			6,737,609				17,992,579
Other liabilities			2,656,647				2,653,283
Total liabilities			9,394,256				20,645,862
Commitments and contingencies
Stockholders’ equity
Common stock ($.0001 par value, 600,000,000 shares authorized, 71,855,015 and 71,611,302, issued and outstanding at September 30, 2026 and December 31, 2025, respectively)			7,185				7,161
Additional paid-in capital			244,109,230				241,885,214
Accumulated deficit			(80,862,568	)			(43,070,803	)
Total stockholders’ equity			163,253,847				198,821,572
Total liabilities and stockholders’ equity		$	172,648,103			$	219,467,434

SIGA TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2026			2025			2026			2025
Revenues
Product sales and supportive services	$	233,689		$	889,748		$	41,641,900		$	85,835,855
Research and development		1,083,276			1,730,252			6,919,898			4,944,963
Total revenues		1,316,965			2,620,000			48,561,798			90,780,818
Operating expenses
Cost of sales and supportive services		575,660			1,002,083			21,077,729			26,714,283
Selling, general and administrative		4,621,909			4,786,511			14,443,914			15,949,749
Research and development		2,639,444			7,053,985			10,975,788			14,914,895
Total operating expenses		7,837,013			12,842,579			46,497,431			57,578,927
Operating (loss)/income		(6,520,048	)		(10,222,579	)		2,064,367			33,201,891
Other income, net		1,037,470			1,866,693			3,261,847			5,143,981
(Loss)/Income before income taxes		(5,482,578	)		(8,355,886	)		5,326,214			38,345,872
Benefit/(Provision) for income taxes		2,589,514			1,990,067			789,904			(9,636,811	)
Net and comprehensive (loss)/income	$	(2,893,064	)	$	(6,365,819	)	$	6,116,118		$	28,709,061
Basic (loss)/income per share	$	(0.04	)	$	(0.09	)	$	0.09		$	0.40
Diluted (loss)/income per share	$	(0.04	)	$	(0.09	)	$	0.09		$	0.40
Weighted average shares outstanding: basic		71,849,132			71,604,956			71,751,272			71,499,984
Weighted average shares outstanding: diluted		71,849,132			71,604,956			71,895,843			71,801,188

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were SIGA’s third-quarter 2026 earnings results?

SIGA reported a $2.9 million net loss, or $0.04 per diluted share, compared with a $6.4 million loss, or $0.09 per diluted share, a year earlier. Revenue declined to $1.3 million from $2.6 million.

How much is SIGA’s Canadian defence TPOXX contract worth?

The contract provides for purchases of up to approximately $15 million of oral TPOXX by March 31, 2031. Approximately $9 million represents firm commitments over the first three years, while approximately $6 million depends on option exercise by the Canadian Department of National Defence.

Will SIGA’s retiring chief scientific officer continue working with the company?

Dennis Hruby will continue supporting SIGA in an advisory capacity after retiring as executive vice president and chief scientific officer effective November 9, 2026.