U.S. orders antiviral drugs worth $138 million from SIGA Tech

SIGA Technologies

27/07/2023 23:34

July 27 (Reuters) - SIGA Technologies Inc  SIGA.O  on
Thursday said it has won a new contract for its antiviral drug,
Tpoxx, from the U.S. Department of Health and Human Services,
sending the company's shares up about 20% after the bell.
    The order is for delivery of about $113 million worth of
oral Tpoxx treatment courses and about $25 million worth of the
intravenous formulation of the treatment, SIGA said.  
    CEO Phil Gomez said the orders further highlight that many
global leaders in public heath recognize the importance of
orthopoxvirus preparedness and the need to take action to keep
people safe.
    SIGA expects to fully deliver the order of oral Tpoxx drugs
in 2023 and expects to start delivering IV TPOXX in 2024. Prior
to the delivery of the IV drugs, it will focus on fulfilling a
prior IV order, the company said.
    The drug was initially approved by the U.S. Food and Drug
Administration for smallpox. The U.S. Centers for Disease
Control and Prevention expanded its use to help tackle the
spread of mpox in 2022.
    The new orders follow earlier contracts that the company
received from the U.S. Department of Defense when the country
was stocking up on the treatment amid an mpox outbreak.
    In May, the World Health Organization declared the end of
the emergency status for mpox, a viral disease which spreads
through direct contact with body fluids and causes flu-like
symptoms and pus-filled skin lesions.
    
    
    
    

 (Reporting by Sriparna Roy in Bengaluru; Editing by Devika
Syamnath)
 ((Sriparna.Roy@thomsonreuters.com;))