Another hatchet job although not as bad as the LA TImes in 2011. Go to the nytimes website and check the readers' comments with all the usual claptrap: Ron Perelman is evil, wasteful government spending, antivirals and vaccines are interchangeable, and my favorite, smallpox could never happen. I love that one because a few years ago no one could ever imagine a jet plane loaded with passengers being smashed into a skyscraper. As palatinate put it, Oy!
Anyway, a big thanks to kageglantz for one of the few intelligent and accurate comments at the NYT website.
The dosage was settled as part of the labeling concurrence reported last quarter: 600mg/day for 14 days. SIGA received the benchmark payment in 4Q.
FDA approval IS NOT required for the Strategic National Stockpile. The FDA does not have a set protocol for testing smallpox antivirals so the animal rule is being invoked. Multiple primates are being tested and CEO Rose said there would be no public disclosure of the results. Completion of FDA testing is not expected before delivery of the 2 million doses. FDA approvals are not part of the BARDA requirements.
Hedges and Amln are right about the chemical stability: ST-246 is a tricyclo carboxamide with a stabilizing trifluoromethyl phenyl substituent. It's not going anywhere.
The short interest trend reversal coming into this year matches nicely with the Jet Capital and Blackrock purchases. I hadn't thought of the hedging strategy.
NASDAQ just released the SIGA short interest numbers for 2/15: 7.1 million shares or up about 1 million since 12/31. Great if you believe in an upcoming short squeeze, but obviously not everyone is drinking the Kool-Aid.
45 opinions and orders have been posted online February 1 to 15. 6 of these cases were heard by the full bench (en banc). 5 of those 6 were reversed and remanded. SIGA appeal was heard by full bench. What are the odds of "reversed and remanded"?
Anybody here want to take investment advice from someone who doesn't know the difference between the Chancery Court of Delaware and the Delaware Supreme Court? You're entitled to your own opinion on SIGA/PIP but not your own set of facts.
Blood? These guys have ice in their veins. Butter wouldn't melt in their mouths. Aside from that, Rose did say in the CC that free cash was being "capitalized into inventory" but wouldn't provide further guidance. So at some point SIGA needs a credit revolver for SGA expenses, etc. just like a real company.
Two quick technical points. First, the SIGA patents covering the broad antivirals (such as ST-669) have no cyclononenes described whatsoever and comprise compounds that are chemically unrelated to ST-246. There have been no claims for ST-699 anti-smallpox effectiveness. Second, the early ST-246 patent screened a number of successful candidate drugs that were not cyclononenes but did have other common features. Parsons chose the category of "cyclononenes", I wouldn't have and it might leave wiggle room in potential future contracts, unlikely as that might be. In any case, an alternative to ST-246 wouldn't be ready under the current BARDA contract.
Zacks lowered shares of SIGA Technologies (NASDAQ: SIGA) from a neutral rating to an underperform rating in a report released on Wednesday. Zacks currently has $2.50 target price on the stock.
Shares of SIGA Technologies traded up 0.53% during mid-day trading on Wednesday, hitting $2.835. SIGA Technologies has a one year low of $2.20 and a one year high of $3.89. The stock’s 50-day moving average is currently $2.61. The company’s market cap is $146.4 million.
Separately, analysts at RBC Capital raised their price target on shares of SIGA Technologies from $3.50 to $4.00 in a research note to investors on Friday, December 21st. They now have a sector perform rating on the stock.