SIGA Technologies Announces $13M Worth Order For Its Monkeypox Treatment
SIGA Technologies Inc (NASDAQ: SIGA) has announced approximately $13 million in procurement orders for oral TPOXX (tecovirimat)
The order includes $11 million for initial procaurement from two new international jurisdictions and an approximate $2 million order from a country in the Asia Pacific region with an established contract for oral TPOXX.
"We expect a portion of the courses of oral TPOXX delivered under these orders will be used to treat active monkeypox cases and represent the first step in response to this outbreak by the global public health community," said Phil Gomez, CEO of SIGA.
Related: WHO Says Monkeypox Outbreak 'Unusual' But 'Containable'
One of the new jurisdictions is in Europe, and the other in the Asia Pacific region.
SIGA expects to deliver approximately $4 million of oral TPOXX under the two new contracts within the next 45 days. The remaining approximately $7 million is expected to be delivered in 2023.
Concerning the order from an existing customer, SIGA has delivered $2 million of oral TPOXX. Along with a previous order of $2.8 million, SIGA delivered approximately $5 million of oral TPOXX to this country during this quarter.
In July 2018, the FDA approved oral TPOXX for smallpox. In December 2021, oral TPOXX was approved by Health Canada. The European Medicines Agency approved it in January 2022 with a broader label covering smallpox, monkeypox, cowpox, and complications from vaccination for smallpox.
Price Action: SIGA shares are up 4.57% at $13.02 during the market session on the last check Thursday.
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