On this page of StockholderLetter.com we present the latest annual shareholder letter from SIGA TECHNOLOGIES INC — ticker symbol SIGA. Reading current and past SIGA letters to shareholders can bring important insights into the investment thesis.

 •  4/28/2025 Letter Continued (Full PDF)
 •  4/26/2023 SIGA Stockholder Letter
 •  4/26/2024 SIGA Stockholder Letter
 •  More "Drugs & Pharmaceuticals" Category Stockholder Letters
 •  SIGA Benford's Law Stock Score = 78

SIGA Shareholder/Stockholder Letter Transcript:

2024 Annual Report
SIGA Technologies, Inc. I 31 East 62nd Street, New York, NY 10065

Dear Shareholders,
Diem Nguyen
Chief Executive Officer
As we look back on the past year, we are proud of the progress SIGA has made   not only in
delivering strong financial performance, but also in advancing our mission to enhance global
health security by helping protect people against a deadly infectious disease, namely smallpox.
Building on SIGA   s established position as a leader in biodefense, we remain committed to
expanding access to TPOXX   around the globe. In an ever-changing world where the risk of a
smallpox outbreak, whether accidental or deliberate, has only increased, our focus has never
been sharper. We believe the steps we are taking today will yield stronger health security
tomorrow.
Strong Financial Performance
2024 was a year of impactful execution and strong financial performance for SIGA. With record product sales of $133
million and pre-tax operating income of $70 million, our lean and dedicated team was singularly focused on helping
our customers develop and execute comprehensive preparedness plans. This is a testament to the value of the TPOXX
franchise and recognition of the benefits of stockpiling TPOXX as a vital medical countermeasure to strengthen
national security.
Additionally, in 2024 we returned $43 million to shareholders through a special cash dividend     reflecting not only our
solid financial position and the confidence our Board of Directors and leadership team have in our future, but also our
ongoing commitment to disciplined capital management and long-term shareholder value. We were able to return cash
to our shareholders while continuing to advance our mission and preserving the resources needed to pursue key
strategic initiatives.
Strategic Priorities
In parallel, we delivered meaningful progress across a range of priorities throughout 2024. For TPOXX, we continued
to progress toward an FDA submission the prophylactic use of this medicine in patients exposed to smallpox, as well
as to advance the development of a pediatric formulation. These programs have the potential to expand the use of
TPOXX in the event of a smallpox outbreak to protect individuals and reduce morbidity and mortality in patients. On
mpox, while the topline results of two trials, STOMP and PALM007, both sponsored by a division of the National
Institutes of Health, were not what we had hoped for, they were not unexpected given the trial designs, the
humanitarian purposes of the trials, and how TPOXX works. We are, however, encouraged by data suggesting potential
benefits of TPOXX for patients treated early or with severe disease, and we are currently working with the trial
sponsor to analyze these data to learn as much as we can about how TPOXX can help mpox patients.
In other areas, we achieved critical milestones with the approval of TEPOXX in Japan, our first commercial sale in
Africa, the exercise of several procurement options for TPOXX by the U.S. Government, completion of a license
agreement with Vanderbilt University for a portfolio of monoclonal antibodies, among others. Additionally, the U.S.
Government recently exercised its option to purchase approximately $26 million of IV TPOXX. This order, together
with about $70 million of outstanding orders at the end of 2024, has positioned us for a solid start in 2025.
Going Forward
We continue to be focused on continually strengthening our company for our customers and shareholders. Central to
our strategy is a heightened focus on global health security preparedness and the essential role an antiviral such as
TPOXX has the potential to play in combating the spread of smallpox, one of the deadliest diseases in modern history.
As we near the completion of our current contract to supply TPOXX to the U.S. Strategic National Stockpile, we
reflect on our decade-long partnership with the U.S. government. We are proud of the role we have played to
strengthen the nation   s preparedness and response capabilities, and we look forward to building on this foundation as
we work towards our objective of securing a new contract.
While we   re proud of our progress, we recognize there is more to do. Backed by a talented team, we are wellpositioned and energized by the opportunities ahead to continue to advance our work with optimism and determination.
Sincerely,
Diem Nguyen
Chief Executive Officer



 4/28/2025 Letter Continued (Full PDF)