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SIGA Technologies Inc. Message Board

  • homebuilder_watcher homebuilder_watcher Mar 11, 2013 4:18 PM Flag

    Looks like PIP may have a long time to wait to get paid

    Wedbush out with a note. "We are aware SIGA confirmed the accounting treatment with more than one large US accounting firm, and with experts in revenue recognition at these organizations.....The lower court's order stipulates that the profits will be determined on a GAAP basis.....As a result of the liklihood that FDA approval will not be obtained until the 2015 timeframe (by our estimate), it woudl appear that PIP's access to the cash from their share of the profits of Arestvyr may be some distant time in the future. While SIGA is motivated to seek FDA approval of Arestvyr as a result of this requirement for the drug to be eligible for stockpiling in the SNS, the requirement only states that FDA approval coudl be achieved within the coming 8 years (at the time each contarct is let)"

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