SIGA Technologies

SIGA Technologies, Inc. (NASDAQ: SIGA) is an American pharmaceutical company founded in 1995, currently based in New York City. The company markets pharmaceutical solutions for anti-viral smallpox treatment.[2] The company trades publicly as SIGA on NASDAQ.

SIGA Technologies, Inc.
TypePublic
NASDAQ: SIGA
Russell 2000 Component
IndustryHealthcare
Biotechnology
Health security
FoundedDecember 28, 1995 (1995-12-28)[1]
Headquarters
New York City
,
United States
Key people
Eric A. Rose M.D. (Chairman)
Phillip L. Gomez (CEO)
Daniel J. Luckshire (CFO)
Robin E. Abrams (General Counsel and CAO)
ProductsPharmaceutical agents
Number of employees
43 (since November 2018)
Websitesiga.com

History

In September 2009, SIGA Technologies received a $1.6 million research fund from the National Institutes of Health ("NIH") for its broad-spectrum antiviral candidates.[3]

In August 2011, SIGA Technologies was awarded a $7.7 million grant from the National Institutes of Health (NIH) to develop an antiviral drug for treating and preventing Lassa fever and others of arenavirus origin.[4] In the same year, the company was awarded over $400 million contract for their antiviral drug TPOXX by the United States Biomedical Advanced Research and Development Authority (BARDA) for the purpose of its development and distribution.[5] In the same year, the company was ordered to pay $232 million in damages in a legal dispute with PharmAthene over rights to the smallpox drug tecovirimat.[6][7]

In July 2013, SIGA Technologies delivered about 590,000 courses of its smallpox antiviral drug tecovirimat (Arestvy) to the United States Government's Strategic National Stockpile (SNS), meeting the requirement of Government's Biomedical Advanced Research and Development Authority (BARDA).[8] Later that year, SIGA laid off its entire research and development division located in Corvallis, Oregon. The company liquidated all laboratory equipment at auction from that site.

In 2013, SIGA laid off its entire research and development division located in Corvallis, Oregon. The company liquidated all laboratory equipment at auction from that site.

In May 2018, the FDA advisory committee decided that the benefits of SIGA's small molecule antiviral treatment, TPOXX, outweigh its potential risks.[5] Later in July, FDA granted the approval of TPOXX to SIGA after the drug was evaluated in 359 healthy human volunteers.[9]

Operations

SIGA has a well established cooperation with US federal agencies for its research and development activities. SIGA is providing countermeasures to the Strategic National Stockpile (SNS) and the Department of Defense (DoD), such as Category A pathogens using BSL-3 or -4 work.[10] In September 2018, the company signed a contract with BARDA for the delivery of oral and IV formulations of TPOXX to the Strategic National Stockpile, effective for the following years.[11]

Products and services

SIGA's products include tecovirimat (Arestvyr, ST-246), an orally administered antiviral drug for orthopoxviruses; anti-arenavirus drug for hemorrhagic fever classified as Category A agents by the Centers for Disease Control and Prevention; anti-Orthopoxvirus Drug; Dengue Antiviral; Broad Spectrum Antiviral, screening for antivirals against Category A and B pathogens.[1]

Awards

In 2008, the company was selected as a winner of the Deloitte New York, New Jersey, Connecticut Technology Fast 50 Program for 2008, as a four-time winner of the reward.[12]

References
  1. Editorial, Reuters. "SIGA Technologies Inc (SIGA.O)". U.S. Retrieved 2019-04-30.
  2. "Company Business Summary".
  3. "$1.6 Million NIH Cooperative Agreement Supports SIGA Broad Spectrum Antiviral Research".
  4. "SIGA Awarded a $7.7 Million Grant for the Development of Antiviral Drugs for Arenaviruses".
  5. Abbott, C. C. (2018-05-03). "SIGA Technologies: A Buy For The Smallpox Treatment". Seeking Alpha. Retrieved 2019-04-30.
  6. "Smallpox Drug Maker Siga to Mediate PharmAthene Dispute". Bloomberg News. Oct 31, 2014.
  7. "Negotiation in Good Faith—SIGA v. PharmAthene". corpgov.law.harvard.edu. Retrieved 2019-05-01.
  8. "SIGA Meets Drug Delivery Condition Under BARDA Contract and Qualifies for First Payment for Delivering Arestvyr(TM)". MarketWatch. Retrieved 2019-05-01.
  9. Commissioner, Office of the (2019-02-09). "FDA approves the first drug with an indication for treatment of smallpox". FDA. Retrieved 2019-06-13.
  10. "Company with Government Relations".
  11. in-pharmatechnologist.com. "Siga signs $629m contract with BARDA for smallpox drug stockpiling". in-pharmatechnologist.com. Retrieved 2019-06-13.
  12. "SIGA Technologies Named to Deloitte Tri-State Area Technology Fast 50".
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