SIGA TECHNOLOGIES INC

Previous wording

In addition to being approved by the FDA, oral TPOXX® (tecovirimat) has received regulatory approval from the European Medicines Agency ("EMA"), Health Canada, the Medicines and Healthcare Products Regulatory Agency ("MHRA") of the United Kingdom, and the Japanese Pharmaceuticals and Medical Devices Agency ("PMDA"). The EMA and MHRA have approved oral TPOXX® for the treatment of smallpox, cowpox, and vaccinia complications following vaccination against smallpox. PDMA has approved oral TPOXX® for the treatment of smallpox, monkeypox ("mpox"), cowpox, and vaccinia complications following vaccination against smallpox, and Health Canada has approved oral TPOXX® for the treatment of smallpox.

Current wording

In addition to being approved by the FDA, oral TPOXX® (tecovirimat) has received regulatory approval from the European Medicines Agency ("EMA"), Health Canada, the Medicines and Healthcare Products Regulatory Agency ("MHRA") of the United Kingdom, and the Japanese Pharmaceuticals and Medical Devices Agency ("PMDA"). The EMA and MHRA have approved oral TPOXX® for the treatment of smallpox, cowpox, and vaccinia complications following vaccination against smallpox. PMDA has approved oral TPOXX® for the treatment of smallpox, monkeypox ("mpox"), cowpox, and vaccinia complications following vaccination against smallpox, and Health Canada has approved oral TPOXX® for the treatment of smallpox.

Previous wording

In connection with a potential FDA label expansion of oral TPOXX® for an indication covering smallpox post-exposure prophylaxis (“PEP”), the Company has completed an immunogenicity trial and an expanded safety trial. The timing of a potential submission of a supplemental New Drug Application to the FDA (“Supplemental NDA”) for a smallpox PEP indication for oral TPOXX® will be based on the results of ongoing sample analyses from the immunogenicity trial; the Company is currently targeting a Supplemental NDA submission in the first half of 2027.

Current wording

In connection with a potential FDA label expansion of oral TPOXX® for an indication covering smallpox post-exposure prophylaxis (“PEP”), the Company has completed an immunogenicity trial and an expanded safety trial. The timing of a potential submission of a supplemental New Drug Application to the FDA (“Supplemental NDA”) for a smallpox PEP indication for oral TPOXX® will be based on the completion of, and results from, sample analyses from the immunogenicity trial to be conducted by the U.S. Centers for Disease Control and Prevention ("CDC"). Based on recent feedback from the FDA, which requested that the Company perform additional validation and related laboratory work to help ensure the accuracy of results from the CDC's sample analysis, the Company expects its submission of a Supplemental NDA will occur in 2028.

Previous wording

On September 10, 2018, the Company entered into a contract with the U.S. Biomedical Advanced Research and Development Authority ("BARDA") pursuant to which SIGA agreed to deliver up to 1,488,000 courses of oral TPOXX® to the Strategic Stockpile, and to manufacture and deliver to the Strategic Stockpile, or store as vendor-managed inventory, up to 212,000 courses of IV TPOXX®. In October 2023, the contract was modified so that a course of IV TPOXX® was redefined within the contract from being 14 vials to being 28 vials; as such, the 19C BARDA Contract currently specifies 106,000 courses of IV TPOXX® (for the same payment amount as originally specified). In addition to the delivery of TPOXX® courses, the contract includes funding from BARDA for a range of activities, including: advanced development of IV TPOXX®, post-marketing activities for oral and IV TPOXX®, development of a pediatric formulation, support for manufacturing activities, and procurement activities. On April 8, 2025, total payments contemplated under the contract with BARDA were increased by $14.3 million to add funding for activities supporting manufacturing. On June 3, 2025, total payments contemplated under the contract with BARDA were increased by $13.2 million in connection with the development of the pediatric formulation of TPOXX®. As of June 30, 2026, the contract with BARDA (as amended, modified, or supplemented from time to time, the "19C BARDA Contract") contemplates up to approximately $630 million of payments, of which approximately $79.2 million of payments are included within the base period of performance, approximately $545.2 million of payments are related to exercised options and up to approximately $5.6 million of payments are currently specified as unexercised options. BARDA may choose in its sole discretion when, or whether, to exercise any of the unexercised options. The period of performance for options is up to ten years from the date of entry into the 19C BARDA Contract and such options could be exercised at any time during the contract term.

Current wording

On September 10, 2018, the Company entered into a contract with the U.S. Biomedical Advanced Research and Development Authority ("BARDA") pursuant to which SIGA agreed to deliver up to 1,488,000 courses of oral TPOXX® to the Strategic Stockpile, and to manufacture and deliver to the Strategic Stockpile, or store as vendor-managed inventory, up to 212,000 courses of IV TPOXX®. In October 2023, the contract was modified so that a course of IV TPOXX® was redefined within the contract from being 14 vials to being 28 vials; as such, the 19C BARDA Contract currently specifies 106,000 courses of IV TPOXX® (for the same payment amount as originally specified). In addition to the delivery of TPOXX® courses, the contract includes funding from BARDA for a range of activities, including: advanced development of IV TPOXX®, post-marketing activities for oral and IV TPOXX®, development of a pediatric formulation, support for manufacturing activities, and procurement activities. On April 8, 2025, total payments contemplated under the contract with BARDA were increased by $14.3 million to add funding for activities supporting manufacturing. On June 3, 2025, total payments contemplated under the contract with BARDA were increased by $13.2 million in connection with the development of the pediatric formulation of TPOXX®. On August 7, 2026, total payments contemplated under the contract with BARDA were increased by $2.1 million to add funding for regulatory activities supporting oral TPOXX®. As of September 30, 2026, the contract with BARDA (as amended, modified, or supplemented from time to time, the "19C BARDA Contract") contemplates up to approximately $632.1 million of payments, of which approximately $81.3 million of payments are included within the base period of performance, approximately $545.2 million of payments are related to exercised options and up to approximately $5.6 million of payments are currently specified as unexercised options. BARDA may choose in its sole discretion when, or whether, to exercise any of the unexercised options. The period of performance for options is up to ten years from the date of entry into the 19C BARDA Contract and such options could be exercised at any time during the contract term.

Previous wording

The base period of performance specifies potential payments of approximately $79.2 million for the following activities: payments of approximately $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile; payments of $8.0 million for the manufacture of 10,000 courses (as currently defined within the contract as being 28 vials) of final drug product of IV TPOXX® ("IV FDP"), of which $3.2 million of payments are related to the manufacture of bulk drug substance ("IV BDS") to be used in the manufacture of IV FDP; payments of approximately $59.5 million to fund reimbursed activities; and payments of approximately $0.6 million for supportive procurement activities. As of June 30, 2026, the Company had received $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile, $3.2 million for the manufacture of IV BDS, $4.8 million for the delivery of IV FDP to the Strategic Stockpile and $37.4 million for other base period activities. IV BDS has been used for the manufacture of courses of IV FDP.

Current wording

The base period of performance specifies potential payments of approximately $81.3 million for the following activities: payments of approximately $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile; payments of $8.0 million for the manufacture of 10,000 courses (as currently defined within the contract as being 28 vials) of final drug product of IV TPOXX® ("IV FDP"), of which $3.2 million of payments are related to the manufacture of bulk drug substance ("IV BDS") to be used in the manufacture of IV FDP; payments of approximately $61.6 million to fund reimbursed activities; and payments of approximately $0.6 million for supportive procurement activities. As of September 30, 2026, the Company had received $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile, $3.2 million for the manufacture of IV BDS, $4.8 million for the delivery of IV FDP to the Strategic Stockpile and $38.6 million for other base period activities. IV BDS has been used for the manufacture of courses of IV FDP.

Previous wording

The options that have been exercised as of June 30, 2026, provide for payments up to approximately $545.2 million. As of June 30, 2026, there are exercised options for the following activities: payments up to $450.2 million for the manufacture and delivery of up to 1.5 million courses of oral TPOXX®; payments up to $76.8 million for the manufacture of courses of IV FDP; payments of up to approximately $3.6 million to fund post-marketing activities for IV TPOXX®; and payments of up to $14.6 million for funding of post-marketing activities for oral TPOXX®. As of June 30, 2026, a cumulative total of $450.2 million of oral TPOXX® has been delivered to the Strategic Stockpile and accepted; a cumulative total of $76.8 million of IV FDP has been delivered to the Strategic Stockpile and accepted (IV BDS that had been set aside and recorded as deferred revenue was recognized as revenue when the IV FDP, containing IV BDS, was delivered); and the Company has been cumulatively reimbursed $13.0 million in connection with post-marketing activities for oral and IV TPOXX®.

Current wording

The options that have been exercised as of September 30, 2026, provide for payments up to approximately $545.2 million. As of September 30, 2026, there are exercised options for the following activities: payments up to $450.2 million for the manufacture and delivery of up to 1.5 million courses of oral TPOXX®; payments up to $76.8 million for the manufacture of courses of IV FDP; payments of up to approximately $3.6 million to fund post-marketing activities for IV TPOXX®; and payments of up to $14.6 million for funding of post-marketing activities for oral TPOXX®. As of September 30, 2026, a cumulative total of $450.2 million of oral TPOXX® has been delivered to the Strategic Stockpile and accepted; a cumulative total of $76.8 million of IV FDP has been delivered to the Strategic Stockpile and accepted (IV BDS that had been set aside and recorded as deferred revenue was recognized as revenue when the IV FDP, containing IV BDS, was delivered); and the Company has been cumulatively reimbursed $13.9 million in connection with post-marketing activities for oral and IV TPOXX®.

Previous wording

Since 2022, the Company has received three procurement contracts from the DoD, totaling $28 million in value, mostly in connection with the manufacture and delivery of oral TPOXX®. All deliveries specified under these contracts have been fulfilled.

Current wording

Since 2022, the Company has received three procurement contracts from the DoD, totaling $28 million in value, mostly in connection with the manufacture and delivery of oral TPOXX®. All deliveries specified under these contracts have been fulfilled. There have been no deliveries in 2026.

Previous wording

In the three and six months ended June 30, 2026, the Company recognized $13.0 million of international sales. In the six months ended June 30, 2025, the Company recognized $5.8 million of international sales consisting of a delivery of oral TPOXX® to one country. There was no revenue recognized in connection with international contracts during the three months ended June 30, 2025.

Current wording

In the nine months ended September 30, 2026, the Company has recognized $13 million of international sales. In the nine months ended September 30, 2025, the Company recognized $5.8 million of international sales consisting of a delivery of oral TPOXX® to one country. There was no revenue recognized in connection with international contracts during the three months ended September 30, 2026 or September 30, 2025, respectively.

Previous wording

Under the terms of the current International Promotion Agreement, which was amended on March 27, 2024, and effective June 1, 2024, and further amended on August 30, 2024, the Company had primary responsibility for the advertising, promotion and sale of oral TPOXX® in all geographic regions. Meridian had limited, non-exclusive rights to advertise, promote, offer for sale and sell oral TPOXX® in the European Economic Area, Australia, Japan, Switzerland, the United Kingdom and the Association of Southeast Asian Nations and its member states (collectively, the “Current Territory”). Meridian also performed non-promotional activities under specified contracts with third parties entered into prior to June 1, 2024, that provided for the sale of oral TPOXX® in the Current Territory. The International Promotion Agreement entitled Meridian to receive a fee equal to a high single digit percentage of collected proceeds (whether collected by Meridian or the Company), net of certain expenses, of sales of oral TPOXX® in the Current Territory in the field of use specified in the International Promotion Agreement. The International Promotion Agreement had a fixed term that expired on May 31, 2026.

Current wording

The International Promotion Agreement with Meridian expired on May 31, 2026. Under the terms of the International Promotion Agreement, which was amended on March 27, 2024, and effective June 1, 2024, and further amended on August 30, 2024, the Company had primary responsibility for the advertising, promotion and sale of oral TPOXX® in all geographic regions. Meridian had limited, non-exclusive rights to advertise, promote, offer for sale and sell oral TPOXX® in the European Economic Area, Australia, Japan, Switzerland, the United Kingdom and the Association of Southeast Asian Nations and its member states (collectively, the “Current Territory”). Meridian also performed non-promotional activities under specified contracts with third parties entered into prior to June 1, 2024, that provided for the sale of oral TPOXX® in the Current Territory. The International Promotion Agreement entitled Meridian to receive a fee equal to a high single digit percentage of collected proceeds (whether collected by Meridian or the Company), net of certain expenses, of sales of oral TPOXX® in the Current Territory in the field of use specified in the International Promotion Agreement.

Previous wording

The U.S. tariffs implemented in 2025 and continuing in 2026, and subsequently implemented retaliatory tariffs, did not materially impact our second quarter or six months ended June 30, 2026 results. While the long-term effects remain uncertain, we continue to closely monitor the evolving tariff policy environment which presents a mix of impacts, with the potential for higher product and operating costs.

Current wording

The U.S. tariffs implemented in 2025 and continuing in 2026, and subsequently implemented retaliatory tariffs, did not materially impact our third quarter or nine months ended September 30, 2026 results. While the long-term effects remain uncertain, we continue to closely monitor the evolving tariff policy environment which presents a mix of impacts, with the potential for higher product and operating costs.

Previous wording

For the three months ended June 30, 2026, revenues from product sales and supportive services were $37.9 million. Such revenues include $24.4 million of IV TPOXX® sales to the U.S. Government under the 19C BARDA Contract, $13.0 million of sales to two international countries, as well as $0.5 million of reimbursed supportive services in connection with a manufacturing technology transfer. For the three months ended June 30, 2025, revenues from product sales and supportive services were $79.1 million. Such revenues include $53.3 million of oral TPOXX® and $25.8 million of IV TPOXX® sales to the U.S. Government under the 19C BARDA contract.

Current wording

For the three months ended September 30, 2026, revenues from product sales and supportive services were $0.2 million. Such revenues are comprised of $0.2 million of reimbursed supportive services in connection with a manufacturing technology transfer. For the three months ended September 30, 2025, revenues from product sales and supportive services were $0.9 million. Such revenues reflect supportive services for the period.

Previous wording

Revenues from research and development activities for the six months ended June 30, 2026 and 2025, were $5.8 million and $3.2 million, respectively. The revenues for the six months ended June 30, 2026, were earned in connection with performance of research and development activities under the 19C BARDA Contract. The revenues for the six months ended June 30, 2025, were mostly earned in connection with performance of research and development activities under the 19C BARDA Contract. The increase of $2.6 million of revenue is primarily related to an increase in billable activities under the 19C BARDA Contract.

Current wording

Revenues from research and development activities for the three months ended September 30, 2026 and 2025, were $1.1 million and $1.7 million, respectively. The revenues for the three months ended September 30, 2026, were earned in connection with performance of research and development activities under the 19C BARDA Contract. The revenues for the three months ended September 30, 2025, were also mostly earned in connection with performance of research and development activities under the 19C BARDA Contract. The decrease of $0.6 million of revenue is primarily related to a decrease in the quarter of billable activities under the 19C BARDA Contract.

Previous wording

Selling, general and administrative (“SG&A”) expenses for the six months ended June 30, 2026 and 2025 were $9.8 million and $11.2 million, respectively. The decrease of $1.4 million primarily reflects lower corporate expenses across a range of functions and activities, including consulting activities, professional services, and international business development activities, partially offset by higher compensation costs.

Current wording

Selling, general and administrative (“SG&A”) expenses for the three months ended September 30, 2026 and 2025 were $4.6 million and $4.8 million, respectively. The decrease of $0.2 million primarily reflects lower corporate expenses in connection with consulting activities and support activities, partially offset by higher compensation costs.

Previous wording

Other income, net for the three months ended June 30, 2026 and 2025 were $0.9 million and $1.6 million, respectively. These amounts reflect interest income earned on cash and cash equivalents.

Current wording

Other income, net for the three months ended September 30, 2026 and 2025 were $1.0 million and $1.9 million, respectively. These amounts reflect interest income earned on cash and cash equivalents.

Previous wording

For the three months ended June 30, 2026 and 2025, we recorded a pre-tax income of $14.9 million and $47.3 million, respectively, and a corresponding income tax provision of $2.4 million and $11.8 million, respectively. The effective tax rates during the three months ended June 30, 2026 and 2025 were 16.1% and 24.9%, respectively. Our effective tax rates for the periods ended June 30, 2026 and 2025 differ from the statutory rate primarily as a result of currently forecasted losses for the full year, state taxes and non-deductible executive compensation under Internal Revenue Code Section 162(m). With respect to currently forecasted losses for the full year, such forecast is based on orders received to date and is subject to update upon the receipt of new procurement orders.

Current wording

For the three months ended September 30, 2026 and 2025, we recorded a pre-tax loss of $5.5 million and $8.4 million, respectively, and a corresponding income tax benefit of $2.6 million and $2.0 million, respectively. The effective tax rates during the three months ended September 30, 2026 and 2025 were 47.2% and 23.8%, respectively. Our effective tax rates for the periods ended September 30, 2026 and 2025 differ from the statutory rate primarily as a result of currently forecasted losses for the full year, state taxes and non-deductible executive compensation under Internal Revenue Code Section 162(m). With respect to currently forecasted losses for the full year, such forecast is based on orders received to date and is subject to update upon the receipt of new procurement orders.

Previous wording

For the six months ended June 30, 2026, revenues from product sales and supportive services were $41.4 million. Such revenues include $25.6 million of IV TPOXX® sales to the U.S. Government under the 19C BARDA Contract, $13.0 million of sales to two international countries, as well as $2.8 million of reimbursed supportive services in connection with a manufacturing technology transfer. For the six months ended June 30, 2025, revenues from product sales and supportive services were $84.9 million. Such revenues include $53.3 million of oral TPOXX® and $25.8 million of IV TPOXX® sales to the U.S. Government under the 19C BARDA contract and $5.8 million of oral TPOXX® sales to one international country.

Current wording

For the nine months ended September 30, 2026, revenues from product sales and supportive services were $41.6 million. Such revenues include $25.6 million of IV TPOXX® sales to the U.S. Government under the 19C BARDA Contract, $13.0 million of sales to two international countries, as well as $3.0 million of reimbursed supportive services in connection with a manufacturing technology transfer. For the nine months ended September 30, 2025, revenues from product sales and supportive services were $85.8 million. Such revenues include $53.3 million of oral TPOXX® and $25.8 million of IV TPOXX® sales to the U.S. Government under the 19C BARDA contract and $5.8 million of oral TPOXX® sales to one international country, as well as $0.9 million of reimbursed supportive services in connection with a manufacturing technology transfer.

Previous wording

Revenues from research and development activities for the three months ended June 30, 2026 and 2025, were $3.1 million and $2.0 million, respectively. The revenues for the three months ended June 30, 2026, were earned in connection with performance of research and development activities under the 19C BARDA Contract. The revenues for the three months ended June 30, 2025, were mostly earned in connection with performance of research and development activities under the 19C BARDA Contract. The increase of $1.1 million of revenue is primarily related to an increase in billable activities under the 19C BARDA Contract.

Current wording

Revenues from research and development activities for the nine months ended September 30, 2026 and 2025, were $6.9 million and $4.9 million, respectively. The revenues for the nine months ended September 30, 2026, were earned in connection with performance of research and development activities under the 19C BARDA Contract. The revenues for the nine months ended September 30, 2025, were mostly earned in connection with performance of research and development activities under the 19C BARDA Contract. The increase of $2.0 million of revenue is primarily related to an increase in billable activities under the 19C BARDA Contract.

Previous wording

Cost of sales and supportive services for the six months ended June 30, 2026 and 2025 were $20.5 million and $25.7 million, respectively. Such costs in 2026 were primarily associated with the costs for the manufacture and delivery of courses of IV TPOXX® to the U.S. Government under the 19C BARDA Contract, costs for the manufacture and delivery of oral TPOXX® to international countries as well as the costs of supportive services in connection with a manufacturing technology transfer. Such costs in 2025 were associated with the manufacture and delivery of courses of oral and IV TPOXX® to the U.S. Government under the 19C BARDA contract.

Current wording

Cost of sales and supportive services for the nine months ended September 30, 2026 and 2025 were $21.1 million and $26.7 million, respectively. Such costs in 2026 were primarily associated with the costs for the manufacture and delivery of courses of IV TPOXX® to the U.S. Government under the 19C BARDA Contract, and the costs for the manufacture and delivery of oral TPOXX® to international countries. Such costs in 2025 were primarily associated with the manufacture and delivery of courses of oral and IV TPOXX® to the U.S. Government under the 19C BARDA contract.

Previous wording

Selling, general and administrative (“SG&A”) expenses for the three months ended June 30, 2026 and 2025 were $5.1 million and $5.5 million, respectively. The decrease of $0.4 million primarily reflects lower corporate expenses across a range of functions and activities, including consulting activities, professional services, and international business development activities, partially offset by higher compensation costs.

Current wording

Selling, general and administrative (“SG&A”) expenses for the nine months ended September 30, 2026 and 2025 were $14.4 million and $15.9 million, respectively. The decrease of $1.5 million primarily reflects lower corporate expenses across a range of functions and activities, including consulting activities, professional services, and international business development activities, partially offset by higher compensation costs.

Previous wording

Research and development (“R&D”) expenses for the six months ended June 30, 2026 and 2025 were $8.3 million and $7.9 million, respectively, reflecting an increase of approximately $0.4 million. The expense increase is primarily attributable to an increase in direct vendor related costs under the 19C BARDA Contract and costs incurred in connection with the EMA referral procedure that was focused on mpox, partially offset by lower self-funded research and development activities, compensation costs and regulatory activities.

Current wording

Research and development (“R&D”) expenses for the nine months ended September 30, 2026 and 2025 were $11.0 million and $14.9 million, respectively, reflecting a decrease of approximately $3.9 million. The expense decrease is primarily attributable to lower self-funded research and development activities in 2026 in comparison to the corresponding nine month period in 2025, as well as lower compensation costs and regulatory costs.

Previous wording

Other income, net for the six months ended June 30, 2026 and 2025 were $2.2 million and $3.3 million, respectively. These amounts reflect interest income earned on cash and cash equivalents.

Current wording

Other income, net for the nine months ended September 30, 2026 and 2025 were $3.3 million and $5.1 million, respectively. These amounts reflect interest income earned on cash and cash equivalents.

Previous wording

For the six months ended June 30, 2026 and 2025, we recorded a pre-tax income of $10.8 million and $46.7 million, respectively, and a corresponding income tax provision of $1.8 million and $11.6 million, respectively. The effective tax rates during the six months ended June 30, 2026 and 2025 were 16.6% and 24.9%, respectively. Our effective tax rates for the periods ended June 30, 2026 and 2025 differ from the statutory rate primarily as a result of currently forecasted losses for the full year, state taxes and non-deductible executive compensation under Internal Revenue Code Section 162(m). With respect to currently forecasted losses for the full year, such forecast is based on orders received to date and is subject to update upon the receipt of new procurement orders.

Current wording

For the nine months ended September 30, 2026 and 2025, we recorded a pre-tax income of $5.3 million and $38.3 million, respectively, and a corresponding income tax benefit/(provision) of $0.8 million and ($9.6) million, respectively. The effective tax rates during the nine months ended September 30, 2026 and 2025 were (14.8%) and 25.1%, respectively. Our effective tax rates for the periods ended September 30, 2026 and 2025 differ from the statutory rate primarily as a result of currently forecasted losses for the full year, state taxes and non-deductible executive compensation under Internal Revenue Code Section 162(m). With respect to currently forecasted losses for the full year, such forecast is based on orders received to date and is subject to update upon the receipt of new procurement orders.

Previous wording

As of June 30, 2026, we had $117.6 million in cash and cash equivalents, compared with $155.0 million at December 31, 2025. We believe that our liquidity and capital resources will be sufficient to meet our anticipated requirements for at least the next twelve months from the issuance of these financial statements.

Current wording

As of September 30, 2026, we had $116.4 million in cash and cash equivalents, compared with $155.0 million at December 31, 2025. We believe that our liquidity and capital resources will be sufficient to meet our anticipated requirements for at least the next twelve months from the issuance of these financial statements.

Previous wording

Net cash provided by operating activities for the six months ended June 30, 2026 and 2025 was $6.5 million and $70.1 million, respectively. For the six months ended June 30, 2026, the net cash provided by operating activities primarily relates to the receipt of approximately $11 million from sales of IV TPOXX® from the U.S. Government, $13 million from the sales of oral TPOXX® to international countries, and $2 million from investment income, partially offset by the use of cash (net of research development revenues) for customary operating activities and inventory. For the six months ended June 30, 2025, the receipt of approximately $80 million from sales of TPOXX® to the U.S. Government and an international customer, $20 million from sales of TPOXX® from accounts receivable at December 31, 2024, as well as the receipt of investment income on cash and cash equivalents, was partially offset by the payment of approximately $8 million of income taxes as well as for the use of cash (net of research development revenues) for inventory and customary operating activities.

Current wording

Net cash provided by operating activities for the nine months ended September 30, 2026 and 2025 was $5.3 million and $60.3 million, respectively. For the nine months ended September 30, 2026, the net cash provided by operating activities primarily relates to the receipt of approximately $15 million from sales of IV TPOXX® from the U.S. Government, $13 million from the sales of oral TPOXX® to international countries, and $3 million from investment income, partially offset by the use of cash (net of research development revenues) for customary operating activities and inventory. For the nine months ended September 30, 2025, the receipt of approximately $85 million from sales of TPOXX® to the U.S. Government and an international customer, $20 million from sales of TPOXX® from accounts receivable at December 31, 2024, as well as the receipt of investment income on cash and cash equivalents, was partially offset by the payment of approximately $8 million of income taxes as well as for the use of cash (net of research development revenues) for inventory and customary operating activities.

Previous wording

For the six months ended June 30, 2026, there were no cash-related investing activities; acquisitions of equipment during the six months ended June 30, 2026 were not billed as of June 30, 2026. For the six months ended June 30, 2025, there was minimal (less than $25,000) cash-related investing activities.

Current wording

For the nine months ended September 30, 2026, there were no cash-related investing activities; acquisitions of equipment during the nine months ended September 30, 2026 were not billed as of September 30, 2026. For the nine months ended September 30, 2025, cash used in investing activities was primarily associated with the purchase of approximately $0.3 million of manufacturing equipment.

Previous wording

Cash used in financing activities for the six months ended June 30, 2026 was $43.9 million, which was mostly attributable to the payment of a special cash dividend of approximately $43.3 million as well as the payments of tax obligations in connection with stock issued to employees. Cash used in financing activities for the six months ended June 30, 2025 was $43.1 million, which was mostly attributable to the payment of a special cash dividend of approximately $42.9 million.

Current wording

Cash used in financing activities for the nine months ended September 30, 2026 was $43.9 million, which was mostly attributable to the payment of a special cash dividend of approximately $43.3 million as well as the payments of tax obligations in connection with stock issued to employees. Cash used in financing activities for the nine months ended September 30, 2025 was $43.5 million, which was mostly attributable to the payment of a special cash dividend of approximately $43.0 million.

Previous wording

As of June 30, 2026, we had outstanding purchase orders associated with manufacturing obligations in the aggregate amount of approximately $1.3 million.

Current wording

As of September 30, 2026, we had outstanding purchase orders associated with manufacturing obligations in the aggregate amount of approximately $0.5 million.

Previous wording

Forward-looking statements include statements regarding our future financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations and statements relating to the progress of SIGA’s development programs and timelines for bringing products to market, delivering products to domestic and international customers, and the enforceability of our 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 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 performance under the 19C BARDA Contract (the "BARDA Contract"), with the U.S. Biomedical Advanced Research and Development Authority ("BARDA") 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 SIGA may not be able to secure or enforce sufficient legal rights in its products, including intellectual property protection, (viii) 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, (ix) the risk that regulatory requirements applicable to SIGA’s products may result in the need for further or additional testing or …

Excerpt shortened here; the source contains the full paragraph.

Current wording

Forward-looking statements include statements regarding our future financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations and statements relating to the progress of SIGA’s development programs, and delivering products to domestic and international customers under our 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 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 (the "BARDA Contract"), with the U.S. Biomedical Advanced Research and Development Authority ("BARDA") 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 mar…

Excerpt shortened here; the source contains the full paragraph.