SIGA Technologies reported a 65% drop in net income for the second quarter, yet the company remained profitable, paid a special dividend, and completed its last major government contract. Product sales fell to $37.9 million from $79.1 million in the quarter, and total revenue slid to $41 million from $81.1 million, while net income dropped to $12.5 million from $35.5 million. The quarter included $37 million in TPOXX sales, with $24 million of IV TPOXX delivered to the US strategic national stockpile and $13 million of oral TPOXX sold to two international buyers. CEO Diem Nguyen highlighted deliveries across the US, Europe, and Asia-Pacific, noting the completion of the last procurement order under the 19C contract. The company also paid a special cash dividend of $0.6 per share in April, and trades at a forward P/E of just 2.99 as of September 4.
SIGA Technologies IncNet income dropped 65% and product sales fell sharply, though special dividend and contract completion noted.
