SIGA Technologies, Inc. (NASDAQ:SIGA) Q1 2020 Earnings Conference Call - Final Transcript

May 06, 2020 • 04:30 pm ET


SIGA Technologies, Inc. (NASDAQ:SIGA) Q1 2020 Earnings Conference Call - Final Transcript


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Welcome to the SIGA Business Update Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions]

Before we turn the call over to SIGA 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. 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, 2019, and its subsequent reports on Form 10-Q and Form 8-K.

I will now turn the conference over to Phil Gomez, Chief Executive Officer of SIGA. You may begin.

Phillip Louis Gomez

Thank you for taking the time to join today's call. Today, I'm joined by Dan Luckshire, our CFO; and Dr. Dennis Hruby, our Chief Scientific Officer. We're pleased to have this opportunity to provide a business update.

On this call, Dan will be providing an update of our Q1 financial results, recent orders for TPOXX from the Canadian military in BARDA and expectations related to these orders. Dennis will then provide an update on our postexposure prophylaxis program for TPOXX, other R&D activities and targeted regulatory submissions for TPOXX.

Before I hand the call over to our CFO, Dan Luckshire, I would like to provide an update on SIGA and the impact of the COVID-19 pandemic on our business. The global pandemic of COVID-19 has reminded all of us how devastating a highly contagious infectious disease can be to both human lives, how we live and the economy. Our thoughts are with so many that have been dramatically impacted here in New York and around the globe by this devastating disease and with our partners in the US government, who are working tirelessly to develop the tools to help bring this pandemic under control.

Even more so than prior outbreaks like SARS, Ebola, Zika and MERS, it reminds us as a nation that we must prepare for pandemics as it is not a question of if, but when we may be faced with the next one. As many have pointed out, including Bill Gates in a recent televised discussion, we are fortunate COVID-19 is not the most deadly pandemic we could face, as smallpox would be even more destructive with a 30% fatality rate and likely higher transmissibility. Tools like vaccines and treatments are critical to mitigating not only the health impact of infection, but also the fear of in reaction to infection that can decimate and shut down economies. As a result of this pandemic, we believe we will see renewed focus on preparedness globally, including smallpox.

Operationally at SIGA, we fortunately have not been adversely impacted in any material respect by the pandemic. All of our employees are able to perform the majority of their work remotely as we have followed local guidance from New York and Oregon