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SIGA Technologies Inc. Message Board

  • nicehedges nicehedges Mar 13, 2013 7:40 PM Flag

    PIP's CC Weirdness

    Did anyone else listen to it?

    As one might expect, the interest was centered on the litigation with Siga. Nobel Financial's guy did them the courtesy of asking about their programs first, and then asked a question focused on Siga's revenue recognition plan for the BARDA contract and what impact it might have on PIP's ability to collect profits, if the appeal's court affirms. Richman juggled it the best he could, but ultimately said he didn't know.

    Next came Aegis' guy, Raghuram Selvaraju, who went right into Siga, asking what PIP appealed against. Their legal counsel answered saying they appealed the ruling that the terms of the LATS were not in and of themselves binding, and that they should be enforceable. He then asked about pricing for 246 and how it might change in the future, which Richman couldn't answer. Lastly he asked about their next generation anthrax product, which the CSO would not talk about.

    The last questioner was David Nierengarten of Webush
    He followed up on the revenue recognition question, asking again what impact it might having on the timing of PIP's access to Siga's contract revenues. Richman didn't really answer this question again and handed it off to the CFO, who said she didn't have anything else to add, but that Siga has certain rules and standards they must follow as a public company and that PIP would protect their interest if the decision is upheld.

    When David attempted to ask a follow up question on the same topic, he got 2 sentences into it when the operator abruptly cut him off saying they were out of time. Now do you think he was told to do that? ;)

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