BARDA exercise options of $26 million for IV TPOXX

SIGA Technologies’ (Nasdaq: SIGA) shares were up 6.8% at $23.67 mid-morning today, as it announced the exercise of procurement options under its 19C contract with the US Department of Health and Human Services for the delivery to the US government of intravenous (IV) formulation of TPOXX treatment courses valued at around $26 million.

Oral TPOXX (tecovirimat) is approved in Canada and the USA for the treatment of smallpox but has shown efficacy in treating patients with the monkeypox virus, which is endemic in some African countries, but the incidence of which has been increasing in Europe and North America.

These option exercises represent the first procurement option exercises for IV TPOXX under the 19C contract. Product deliveries of IV TPOXX in connection with these contract options are targeted for 2023. IV TPOXX is an important option for those who are unable to swallow.