SIGA Technologies - BARDA exercises first option for IV TPOXX

Following strong Q222 results, SIGA Technologies has announced that the Biomedical Advanced Research and Development Authority (BARDA) has exercised its first procurement option for intravenous (IV) TPOXX, worth $26m, under its 19C contract signed in September 2018. The contract includes manufacturing and delivery of up to 212,000 courses of IV TPOXX to the US strategic stockpile over the 10-year contractual term. SIGA delivered the first c 20,000 courses in Q122 and the announced procurement is the first of the IV TPOXX options (64,000 courses each; c $400/course). The product delivery on this option exercise is targeted for 2023. IV TPOXX received FDA approval in May 2022 and expands the company’s addressable market to those who are unable to take the oral formulation (either too sick or unable to swallow).