Siga Technologies $SIGA rose more than 17% on August 5, 2022, just days after the Biden Administration declared monkeypox a national emergency. The company sells TPOXX, an oral treatment for smallpox and possibly monkeypox currently being studied by the U.S. DoD.
Bullish Option Flow Detected In $SIGA Stock
Guerilla Stock Trading has detected bullish option flow in $SIGA stock from August 1 – 5th, 2022.
Make sure to review this lesson on option flow so that you understand the image above.
Notably, the September 16, 2022, $30 call option has increased volume and open interest over the last few weeks.
SIGA Reports Financial Results for Three and Six Months Ended June 30, 2022
On August 4, 2022, SIGA Technologies (NASDAQ: SIGA), a commercial-stage pharmaceutical company, reported financial results for the three and six months that ended June 30, 2022.
Key Business and Operational Activity:
This year, through July 31, SIGA has received approximately $60 million of international orders for oral TPOXX (tecovirimat) from ten jurisdictions, with nine new customers. Roughly $5 million of these orders were delivered in the second quarter of 2022. Approximately $26 million is expected to be delivered in the third quarter of 2022, and the remaining orders are expected to be fulfilled between October 1, 2022, and July 31, 2023.
- On July 8, the company announced that the United Kingdom had approved oral tecovirimat (known in the U.S. as oral TPOXX) for treating smallpox, monkeypox, cowpox, and vaccinia complications following vaccination against smallpox in adults and children with a body weight of at least 13kg. This regulatory approval follows the regulatory approval by the European Medicines Agency (EMA) in January 2022, with a similar label.
- In the second quarter of 2022, the company made its first sales of oral TPOXX to a jurisdiction in the Asia-Pacific region and to the DoD, continuing a positive trend of expanding and diversifying its revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... base. In the first quarter of 2022, the company made its first sale of IV TPOXX to the U.S. Government.
- On May 19, the company announced that the U.S. Food & Drug Administration (FDA) approved the intravenous formulation of TPOXX (IV TPOXX).
“SIGA’s second quarter financial results reflect the first sales of oral TPOXX to a new international jurisdiction in the Asia-Pacific region as well as the U.S. Department of Defense (DoD),” said Phil Gomez, CEO of SIGA. “In combination with the first sale of the intravenous formulation of TPOXX (“IV TPOXX”) in the first quarter of 2022, the company continues to expand and diversify its revenue base. We expect this positive trend to continue in the second half of 2022 as we have received year to date, as of July 31, approximately $60 million of international orders from ten international jurisdictions, of which nine are first-time customers. We believe the increasing number of international governments that are procuring oral TPOXX, as well as a large number of inquiries regarding TPOXX procurement, highlight the overall importance of health security preparedness and that by increasing both the scale and scope of TPOXX stockpiling, countries can be better prepared for the outbreak risks of smallpox, monkeypox, and other viruses in the orthopoxvirus family of viruses and make sure that patients are able to access treatment.”
Biden declares monkeypox public health emergency, Washington Post says
The Biden administration declared the monkeypox outbreak a public health emergency, the Washington Post reports. The declaration would come from Health and Human Services Secretary Xavier Becerra, who is expected to discuss the plan at an afternoon briefing. Becerra is planning a second declaration empowering federal officials to expedite medical countermeasures, including greater flexibility in how the current supply of vaccines is administered, Diamond reports. Smallpox vaccine makers include Chimerix (CMRX) and Siga Technologies (SIGA), while Bavarian Nordic (BVNRY) has received European Commission approval for its Imvanex vaccine to be marketed as protection against monkeypox. Source: https://www.washingtonpost.com/health/2022/08/04/monkeypox-public-health-emergency-united-states-becerra/
FDA provides update on agency response to monkeypox outbreak
On July 29, 2022, the U.S. Food and Drug Administration updated its multipronged response to monkeypox in the United States, including its efforts in diagnostics, vaccines, and therapeutics. “The FDA will provide updates as developments occur and will continue to work with federal public health partners and industry to ensure timely access to all available medical countermeasures,” it stated. The FDA said: “Since the first case of monkeypox in the U.S. was detected, the FDA has been working with commercial laboratories and manufacturers to make monkeypox tests more readily available to consumers who need them. The Centers for Disease Control and Prevention has an FDA-cleared non-variola orthopoxvirus test that can detect monkeypox by a swab from a monkeypox lesion. At this time, this is the only FDA-cleared test. In 2019, the FDA approved the JYNNEOS Vaccine to prevent smallpox and monkeypox in adults 18 years of age and older determined to be at high risk of infection. JYNNEOS is the only vaccine approved for the prevention of monkeypox in the United States. Although clinical trials and data are limited because of the small number of cases until now, the immunological response to vaccine administration is consistent with the effective prevention of the disease. There is no FDA-approved or authorized medicine for the treatment of monkeypox disease; however, TPOXX, an antiviral medication, is being made available through the CDC under an FDA authority called Expanded Access or ‘compassionate use.’ The FDA continues to work with the CDC to streamline their Expanded Access Program for monkeypox to facilitate access. There are currently no human data demonstrating the efficacy of TPOXX for the treatment of monkeypox or the safety and pharmacokinetic profile. Although expanded access program is available, conducting randomized, controlled trials to assess TPOXX’s safety and efficacy in humans with monkeypox infections is essential.” On July 15, Bavarian Nordic (BVNRY) announced that the U.S. Biomedical Advanced Research and Development Authority, part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services, has ordered an additional 2.5 million doses of liquid-frozen JYNNEOS, a non-replicating smallpox vaccine and the only FDA-approved vaccine against monkeypox. SIGA Technologies (SIGA) is the maker of oral TPOXX. Source: https://www.fda.gov/news-events/press-announcements/fda-provides-update-agency-response-monkeypox-outbreak
📺 Video Interview with SIGA Technologies CEO Dr. Philip Gomez Monkeypox Affenpocken TPOXX Tecovirimat
📈 SIGA Technologies $SIGA Chart
$SIGA stock is in a strong technical uptrend. The stock has had a sustained move on the monkeypox outbreak. The stock is in the top 1% of all short-term uptrend signals, and long-term indicators fully support a continuation of the trend.