SIGA Technologies Inc.

Welcome to CIGA Business Update Call. Before we turn the call over to CIGA management, please note that any forward-looking statements made during this call are based on management's current expectations and observations and are subject to risks and uncertainties that could cause actual results to differ from the forward-looking statements. CIGA does not undertake any obligation to update publicly any forward-looking statements to reflect events or change circumstances after this call. For a discussion of factors that could cause results to differ, please see the company's filings with the Securities and Exchange Commission, including without limitation, the company's annual report on Form 10-K for the year ended December 31st, 2025, and its subsequent reports on Form 10-Q and Form 8-K. With that, I will turn the call over to Diem Nguyen Chief Executive Officer of SIGA. Please go ahead.

Good afternoon, everyone, and thank you for joining today's call and review of our business results. I am joined by Dan Luckshire, our Chief Financial Officer, and we appreciate this opportunity to provide an update on our company. After the update, we'll be happy to answer your questions. I am pleased to report that SIGA continues to make product deliveries and generate revenues while navigating an evolving and dynamic global environment. Despite the external challenges, our focus has not wavered. We continue to engage and partner with governments to build and strengthen long-term preparedness against potential biological threats, namely smallpox. We serve many countries with our smallpox antiviral treatment, and we remain committed to positioning TPOX for rapid, large-scale deployment the moment an outbreak demands it. The threat of smallpox is real, and preparedness requires proactive, sustained government investment in medical countermeasures stockpiles. We're proud of the role we play in those efforts. Turning now to our results. As I've said before, our business carries inherent quarter-to-quarter variability, so our results are best understood in the context of our longer horizon rather than any single period. With that backdrop, I'm pleased to share that for the second quarter of 2026, we recorded product-related revenues of $38 million, mostly comprised of $24 million of IV teapots delivered to the U.S. Strategic National Stockpile and $13 million of oral teapots delivered to two international customers, one in the Asia-Pacific region and one in Europe. This diversification across multiple formulations and customers demonstrate the enduring need for governments to protect against biological threats. Turning to the U.S., this quarter's IVTPOX delivery marks the fulfillment of the final product order under our 19C contract. Since 2018, we've successfully delivered on all our product obligations under the agreement, and we're proud of our performance and what it represents. We look forward to building on our more than a decade-long partnership with the U.S. government. This track record highlights the historical strength of SIGA's business model and the important long-term role TPOCs has played in the government's smallpox preparedness. We continue to actively engage with the U.S. government across multiple levels on a new multi-year procurement contract. Further, we are encouraged by the recent Senate HELP Committee hearings and vote regarding the President's nominee for the role of Assistant Secretary for Preparedness and Response. I will say that while progress toward a new contract has been slower than in the past, we continue to believe the case for smallpox preparedness remains strong. Moreover, we believe the U.S. government's ongoing funding of TPOC's development programs, together with TPOC's orders that were recently filled, reflect a continuing role for TPOCs in the national smallpox preparedness. Shifting to our international business, we continue to engage with governments and key stakeholders as they assess their preparedness strategies. Government procurement is, by nature, a complex process, but the direction of these discussions reinforces our view that there are opportunities for additional international sales. As noted last quarter, we received a $13 million order from a country in the Asia-Pacific region, which we delivered in the second quarter. Additionally, we delivered a small number of oral TPOCs courses to a new customer in Europe in the second quarter. As a reminder, we recently entered into an exclusive license and distribution agreement with HICMA MENA FCE in connection with the MENA region, which includes countries in the Middle East and North Africa. Since then, we've been meeting regularly with HCMA to develop a detailed plan to expand TPOC's footprint across MENA, a region where CEGA has historically been underrepresented. Under the agreement, HCMA holds the right to register and commercialize TPOCs across MENA, and CEGA serves as the exclusive manufacturer and supplier of finished product. PICMA's regional presence and expertise in bringing innovative medicines to market make them the right partner to expand access to TPOCs in these markets. Turning to our pipeline, we continue to advance our post-exposure prophylaxis, or PEP, and pediatric programs. On the PEP program, the CDC is advancing its work on the immunogenicity samples, and we are targeting an FDA submission in the first half of 2027. On the pediatric program, our phase one study results are expected by year end, which will determine the next steps. Children will be among the most vulnerable in the smallpox outbreak, and a purpose-built liquid gives clinicians a reliable weight-based way to treat them. Together with oral and IV formulations, it extends coverage across the full population from infants to adults. In short, we are focused on what has always driven SIGA, financial and operational discipline, and the partnerships that position us for the long-term success. As 2026 progresses, we believe the case for preparedness has never been clearer, and neither has our purpose. Smallpox and other high-consequence viruses are a serious threat, but they are threats that we can manage with preparation. We believe TPOXX is uniquely suited to meet the smallpox threat. With that, I'll turn it over to Dan to review the financial results in more detail. Dan?

Thanks, Em. As noted earlier in the call, the company had product-related revenues of $38 million in the second quarter, following the first quarter in which there were minimal product revenues, reflecting the variable rhythm of SIGA's business model. Product revenues for this quarter include approximately $24 million of IV TPOX deliveries to the S&S, and approximately $13 million of international sales to two international customers. The $24 million of IVTPOX deliveries represent the completion of an order received in 2025 under the 19 contract. The $13 million of international sales is mostly attributable to an order received earlier this year from a customer in the Asia Pacific region. For the six months ended June 30th, 2026, product-related revenues are $41 million, mostly driven by activity in the second quarter. In addition to product-related revenues for the three and six months ended June 30th, 2026, the company also had research and development revenues of approximately $3 million and $6 million respectively during those periods. Pre-tax operating income for the quarter, which excludes interest income and taxes, is approximately $14 million. For the six months ended June 30, 2026, pre-tax operating income is approximately $9 million. Net income for the quarter is approximately $12 million. For the six months ended June 30, 2026, net income is $9 million. Fully diluted income per share for the quarter is $0.17 per share, while fully diluted income per share for the six months into June 30, 2026 is $0.13 per share. The company continues to maintain a strong balance sheet. As of June 30, 2026, the company had a cash balance of approximately $118 million and no debt. This concludes the financial update. At this point, I will turn the call back to Zem.