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SIGA Technologies Inc. Message Board

  • homebuilder_watcher homebuilder_watcher Mar 7, 2013 8:54 AM Flag

    Wedbush with a note this AM

    "Management indicated that based on the Arestvyr procurement contract, and GAAP accounting rules, FDA approval could be the gating item to recognizing Arestvyr sales into the SNS as revenue on the income statement. Our SIGA revenue estimates will be based on a non-GAAP basis and continue to reflect our estimates of Arestvyr sales in thhe quarter. As a result of the iterative experimentation and frequent consulatation with FDA process that is ongoing, Management is appropriately cautious in committing to the remaining development milestones and their timeline for completion. We continue to expect the Delaware Supreme Court to deliver a decision in the Pharmathene litigation that improves SIGA's economic outlook. Our checks suggest that the lower court erred and was overly speculative in its decision that had SIGA negotiated in good faith, an agreement calling for a 50/50 profit split would have resulted. Reitterate our Outperform rating and our $7.50/share 12-month price target." Wedbush models $124 million revenue for 2013 and EPS of $1.47 resulting in a forward PE of 2.75

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