EDISON INVESTMENT RESEARCH LIMITED (LON:KEFI) Edison Investment Research Limited: SIGA Technologies (SIGA): Initiation - Protection against a future pandemic
Transparency directive : regulatory news
|
Edison Investment Research Limited
London, UK, 5 March 2021
SIGA Technologies (SIGA): Initiation - Protection against a future pandemic SIGA Technologies is a commercial-stage company focusing on health security. Its lead program is oral TPOXX (tecovirimat), which was approved by the FDA in 2018 for the treatment of smallpox and is active against all orthopoxviruses. Importantly, in 2018 SIGA was awarded a 60-month contract (with options to extend to 2028) of up to $602m from the US Biomedical Advanced Research and Development Authority (BARDA), the majority of which was for the procurement of the oral version of TPOXX.
We value SIGA at $968m or $12.61 per basic share using a risk-adjusted net present value (NPV) model. Almost half of our valuation comes from the US base business, with the rest mainly coming from the PEP and international opportunities. The company reported $117.9m in net cash at the end of December and is profitable. SIGA has a $50m stock repurchase program in place and bought $28.5m of stock by the end of Q420. Click here to view the full report or here to sign up to receive research as it is published.
All reports published by Edison are available to download free of charge from its website About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Maxim Jacobs +1 646 653 7027 healthcare@edisongroup.com Nathaniel Calloway +1 646 653 7036 healthcare@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
1173484 05-March-2021