For the first time ever SIGA is looking to partner their Dengue program, getting rid of their preclinical programs and trimming their staff. They have over 100 million dollars cash and a contract with BARDA that ends in March, 2015. They claim that they will not submit the NDA for ST-246 until after March/2015. Also, the appealed lawsuit with PIP is still ongoing. Will BARDA ever give them another contract? Probably not. Will they lose the lawsuit with PIP - probably. Is ST-246 worth anything? The answer is, "yes". ST-246 kills pox viruses and not just smallpox - it kills every pox virus known to mankind. So, even if they never get another contract with BARDA, ST-246 is a very valuable asset and by the time that they complete their ongoing initiatives, it will be their only late-stage asset. It looks to me like they should either sell the entire company, privatize it or buy another late-stage asset. To me, a sale makes total sense. Let big pharma take over and get ST-246 approved. SIGA has dragged their feet long enough.
This one thing that's up with SIGA( from the last 10Q):
" Our lead product, Arestvyr (tecovirimat), also known as ST-246, is an orally administered antiviral drug that targets orthopoxviruses. On May 13, 2011, we signed the BARDA Contract pursuant to which we agreed to deliver two million courses of Arestvyr to the Strategic Stockpile. The base contract, worth approximately $463 million, includes $54 million related to development and supportive activities and contains various options to be exercised at BARDA's discretion. The period of performance for development and supportive activities runs until 2020. As originally issued, the BARDA Contract included an option for the purchase of up to 12 million additional courses of Arestvyr; however, following a protest by a competitor of the Company, BARDA issued a contract modification on June 24, 2011 pursuant to which it deleted the option to purchase the additional courses. Under the BARDA Contract as modified, BARDA has agreed to buy from SIGA 1.7 million courses of Arestvyr. Additionally, SIGA will contribute to BARDA 300,000 courses manufactured primarily using federal funds provided by HHS under prior development contracts. The BARDA Contract as modified also contains options that will permit SIGA to continue its work on pediatric and geriatric formulations of the drug as well as use Arestvyr for smallpox prophylaxis....." !
We believe Arestvyr is among the first new small-molecule drugs delivered to the Strategic Stockpile under Project BioShield. Arestvyr is an investigational product that is not currently approved by FDA as a treatment of smallpox or any other indication. FDA has designated Arestvyr for "fast-track" status, creating a path for expedited FDA review and eventual regulatory approval."!