|
x
|
Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
|
For the Quarterly Period Ended June 30, 2019
|
|
Or
|
¨
|
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
|
For the transition period from ________ to ___________
|
Delaware
|
13-3864870
|
(State or other jurisdiction of
|
(IRS Employer Identification. No.)
|
incorporation or organization)
|
|
|
|
31 East 62nd Street
|
10065
|
New York, NY
|
(zip code)
|
(Address of principal executive offices)
|
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
common stock, $.0001 par value
|
SIGA
|
The Nasdaq Global Market
|
Large accelerated filer
¨
|
|
Accelerated filer
x
|
Non-accelerated filer
¨
|
|
Smaller reporting company
¨
|
|
|
Emerging growth company
¨
|
|
|
|
Page No.
|
|
|
|
|
|
June 30, 2019
|
|
December 31, 2018
|
||||
ASSETS
|
|
|
|
||||
Current assets
|
|
|
|
||||
Cash and cash equivalents
|
$
|
100,263,915
|
|
|
$
|
100,652,809
|
|
Restricted cash, short-term
|
11,248,400
|
|
|
11,452,078
|
|
||
Accounts receivable
|
4,128,216
|
|
|
1,959,133
|
|
||
Inventory
|
2,390,487
|
|
|
2,908,210
|
|
||
Prepaid expenses and other current assets
|
3,503,932
|
|
|
4,317,615
|
|
||
Total current assets
|
121,534,950
|
|
|
121,289,845
|
|
||
|
|
|
|
||||
Property, plant and equipment, net
|
2,859,865
|
|
|
171,274
|
|
||
Restricted cash, long-term
|
64,480,624
|
|
|
68,292,023
|
|
||
Deferred tax assets, net
|
12,388,524
|
|
|
11,733,385
|
|
||
Goodwill
|
898,334
|
|
|
898,334
|
|
||
Other assets
|
929,963
|
|
|
1,058,880
|
|
||
Total assets
|
$
|
203,092,260
|
|
|
$
|
203,443,741
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities
|
|
|
|
||||
Accounts payable
|
$
|
1,070,926
|
|
|
$
|
1,688,488
|
|
Accrued expenses and other current liabilities
|
10,052,283
|
|
|
9,648,917
|
|
||
Total current liabilities
|
11,123,209
|
|
|
11,337,405
|
|
||
Warrant liability
|
7,415,350
|
|
|
12,380,939
|
|
||
Other liabilities
|
3,321,486
|
|
|
1,263,113
|
|
||
Long-term debt
|
77,777,748
|
|
|
75,547,597
|
|
||
Total liabilities
|
99,637,793
|
|
|
100,529,054
|
|
||
Commitments and contingencies
|
|
|
|
||||
Stockholders’ equity
|
|
|
|
||||
Common stock ($.0001 par value, 600,000,000 shares authorized, 81,046,524 and 80,763,350 issued and outstanding at June 30, 2019, and December 31, 2018, respectively)
|
8,105
|
|
|
8,076
|
|
||
Additional paid-in capital
|
220,770,338
|
|
|
218,697,872
|
|
||
Accumulated deficit
|
(117,323,976
|
)
|
|
(115,791,261
|
)
|
||
Total stockholders’ equity
|
103,454,467
|
|
|
102,914,687
|
|
||
Total liabilities and stockholders’ equity
|
$
|
203,092,260
|
|
|
$
|
203,443,741
|
|
|
Three months ended June 30,
|
|
Six months ended June 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Revenues
|
|
|
|
|
|
|
|
||||||||
Product sales and supportive services
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
7,142,400
|
|
|
$
|
—
|
|
Research and development
|
3,907,611
|
|
|
2,661,216
|
|
|
7,224,295
|
|
|
4,409,150
|
|
||||
Total revenues
|
3,907,611
|
|
|
2,661,216
|
|
|
14,366,695
|
|
|
4,409,150
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Operating expenses
|
|
|
|
|
|
|
|
||||||||
Cost of sales and supportive services
|
—
|
|
|
—
|
|
|
915,367
|
|
|
—
|
|
||||
Selling, general and administrative
|
3,392,228
|
|
|
2,880,394
|
|
|
6,558,794
|
|
|
5,936,940
|
|
||||
Research and development
|
2,038,323
|
|
|
3,312,181
|
|
|
6,035,604
|
|
|
6,320,007
|
|
||||
Patent expenses
|
182,310
|
|
|
178,332
|
|
|
370,226
|
|
|
396,805
|
|
||||
Total operating expenses
|
5,612,861
|
|
|
6,370,907
|
|
|
13,879,991
|
|
|
12,653,752
|
|
||||
Operating (loss) income
|
(1,705,250
|
)
|
|
(3,709,691
|
)
|
|
486,704
|
|
|
(8,244,602
|
)
|
||||
Gain (loss) from change in fair value of warrant liability
|
656,523
|
|
|
360,285
|
|
|
3,792,788
|
|
|
(2,942,829
|
)
|
||||
Interest expense
|
(3,971,031
|
)
|
|
(3,843,161
|
)
|
|
(7,899,449
|
)
|
|
(7,591,979
|
)
|
||||
Other income, net
|
737,577
|
|
|
144,152
|
|
|
1,473,706
|
|
|
146,387
|
|
||||
Loss before income taxes
|
(4,282,181
|
)
|
|
(7,048,415
|
)
|
|
(2,146,251
|
)
|
|
(18,633,023
|
)
|
||||
Benefit (provision) for income taxes
|
1,119,689
|
|
|
(2,849
|
)
|
|
613,536
|
|
|
(497
|
)
|
||||
Net and comprehensive loss
|
$
|
(3,162,492
|
)
|
|
$
|
(7,051,264
|
)
|
|
$
|
(1,532,715
|
)
|
|
$
|
(18,633,520
|
)
|
Basic loss per share
|
$
|
(0.04
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
(0.24
|
)
|
Diluted loss per share
|
$
|
(0.05
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(0.06
|
)
|
|
$
|
(0.24
|
)
|
Weighted average shares outstanding: basic
|
80,986,524
|
|
|
79,094,320
|
|
|
80,950,124
|
|
|
79,066,768
|
|
||||
Weighted average shares outstanding: diluted
|
82,114,661
|
|
|
81,163,386
|
|
|
82,129,601
|
|
|
79,066,768
|
|
|
|
Six months ended June 30,
|
||||||
|
|
2019
|
|
2018
|
||||
Cash flows from operating activities:
|
|
|
|
|
||||
Net loss
|
|
$
|
(1,532,715
|
)
|
|
$
|
(18,633,520
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
|
||||
Depreciation and other amortization
|
|
265,289
|
|
|
33,929
|
|
||
(Decrease)/increase in fair value of warrant liability
|
|
(3,792,788
|
)
|
|
2,942,829
|
|
||
Stock-based compensation
|
|
956,284
|
|
|
689,721
|
|
||
Deferred income taxes provision benefit
|
|
(655,139
|
)
|
|
(9,777
|
)
|
||
Non-cash interest expense
|
|
2,230,153
|
|
|
2,230,153
|
|
||
Changes in assets and liabilities:
|
|
|
|
|
||||
Accounts receivable
|
|
(2,169,083
|
)
|
|
(219,547
|
)
|
||
Inventory
|
|
517,724
|
|
|
—
|
|
||
Deferred costs
|
|
—
|
|
|
54,776
|
|
||
Prepaid expenses and other current assets
|
|
813,682
|
|
|
705,066
|
|
||
Other assets
|
|
128,917
|
|
|
—
|
|
||
Accounts payable, accrued expenses and other current liabilities
|
|
(1,848,074
|
)
|
|
(854,097
|
)
|
||
Deferred revenue
|
|
1,204,135
|
|
|
(553,755
|
)
|
||
Other liabilities
|
|
(456,818
|
)
|
|
(135,394
|
)
|
||
Net cash used in operating activities
|
|
(4,338,433
|
)
|
|
(13,749,616
|
)
|
||
Cash flows from investing activities:
|
|
|
|
|
||||
Capital expenditures
|
|
(8,948
|
)
|
|
(27,863
|
)
|
||
Net cash used in investing activities
|
|
(8,948
|
)
|
|
(27,863
|
)
|
||
Cash flows from financing activities:
|
|
|
|
|
||||
Payment of employee tax obligations for common stock tendered
|
|
(56,590
|
)
|
|
(12,328
|
)
|
||
Net cash used in financing activities
|
|
(56,590
|
)
|
|
(12,328
|
)
|
||
Net decrease in cash, cash equivalents and restricted cash
|
|
(4,403,971
|
)
|
|
(13,789,807
|
)
|
||
Cash, cash equivalents and restricted cash at the beginning of period
|
|
180,396,910
|
|
|
37,101,586
|
|
||
Cash, cash equivalents and restricted cash at end of period
|
|
$
|
175,992,939
|
|
|
$
|
23,311,779
|
|
|
|
|
|
|
||||
Supplemental disclosure of non-cash activities:
|
|
|
|
|
||||
Conversion of warrants to common stock
|
|
$
|
1,172,801
|
|
|
$
|
—
|
|
Issuance of common stock upon cashless exercise
|
|
$
|
118,500
|
|
|
$
|
105,900
|
|
|
|
As of
|
||||||
|
|
June 30, 2019
|
|
December 31, 2018
|
||||
Cash and cash equivalents
|
|
$
|
100,263,915
|
|
|
$
|
100,652,809
|
|
Restricted cash-short term
|
|
11,248,400
|
|
|
11,452,078
|
|
||
Restricted cash-long term
|
|
64,480,624
|
|
|
68,292,023
|
|
||
Cash, cash equivalents and restricted cash
|
|
$
|
175,992,939
|
|
|
$
|
180,396,910
|
|
|
|
|
|
|
||||
|
|
June 30, 2018
|
|
December 31, 2017
|
||||
Cash and cash equivalents
|
|
$
|
10,581,112
|
|
|
$
|
19,857,833
|
|
Restricted cash-short term
|
|
11,028,824
|
|
|
10,701,305
|
|
||
Restricted cash-long term
|
|
1,701,843
|
|
|
6,542,448
|
|
||
Cash, cash equivalents and restricted cash
|
|
$
|
23,311,779
|
|
|
$
|
37,101,586
|
|
|
As of
|
||||||
|
June 30, 2019
|
|
December 31, 2018
|
||||
Work in-process
|
$
|
2,322,266
|
|
|
$
|
1,950,445
|
|
Finished goods
|
68,221
|
|
|
957,765
|
|
||
Inventory
|
$
|
2,390,487
|
|
|
$
|
2,908,210
|
|
|
As of
|
||||||
|
June 30, 2019
|
|
December 31, 2018
|
||||
Leasehold improvements
|
$
|
2,420,028
|
|
|
$
|
2,420,028
|
|
Computer equipment
|
581,653
|
|
|
618,248
|
|
||
Furniture and fixtures
|
377,859
|
|
|
377,859
|
|
||
Operating lease right-of-use assets
|
2,944,932
|
|
|
—
|
|
||
|
6,324,472
|
|
|
3,416,135
|
|
||
Less - accumulated depreciation and amortization
|
(3,464,607
|
)
|
|
(3,244,861
|
)
|
||
Property, plant and equipment, net
|
$
|
2,859,865
|
|
|
$
|
171,274
|
|
|
As of
|
||||||
|
June 30, 2019
|
|
December 31, 2018
|
||||
Bonus
|
$
|
1,414,720
|
|
|
$
|
2,600,839
|
|
Deferred revenue
|
5,364,080
|
|
|
4,159,946
|
|
||
Interest payable
|
965,133
|
|
|
35,567
|
|
||
Lease liability, current portion
|
405,244
|
|
|
—
|
|
||
Research and development vendor costs
|
260,276
|
|
|
1,446,410
|
|
||
Professional fees
|
535,944
|
|
|
242,043
|
|
||
Vacation
|
354,206
|
|
|
294,794
|
|
||
Other
|
752,680
|
|
|
869,318
|
|
||
Accrued expenses and other current liabilities
|
$
|
10,052,283
|
|
|
$
|
9,648,917
|
|
•
|
Level 1 – Quoted prices for identical instruments in active markets.
|
•
|
Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations where inputs are observable or where significant value drivers are observable.
|
•
|
Level 3 – Instruments where significant value drivers are unobservable to third parties.
|
|
Fair Value Measurements of Level 3 liability-classified warrant
|
||
Warrant liability at December 31, 2018
|
$
|
12,380,939
|
|
Decrease in fair value of warrant liability
|
(3,792,788
|
)
|
|
Exercise of warrants
|
(1,172,801
|
)
|
|
Warrant liability at June 30, 2019
|
$
|
7,415,350
|
|
|
Three months ended June 30,
|
|
Six months ended June 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Net loss for basic earnings per share
|
$
|
(3,162,492
|
)
|
|
$
|
(7,051,264
|
)
|
|
$
|
(1,532,715
|
)
|
|
$
|
(18,633,520
|
)
|
Less: Change in fair value of warrants
|
656,523
|
|
|
360,285
|
|
|
3,792,788
|
|
|
—
|
|
||||
Net loss, adjusted for change in fair value of warrants for diluted earnings per share
|
$
|
(3,819,015
|
)
|
|
$
|
(7,411,549
|
)
|
|
$
|
(5,325,503
|
)
|
|
$
|
(18,633,520
|
)
|
Weighted-average shares
|
80,986,524
|
|
|
79,094,320
|
|
|
80,950,124
|
|
|
79,066,768
|
|
||||
Effect of potential common shares
|
1,128,137
|
|
|
2,069,066
|
|
|
1,179,477
|
|
|
—
|
|
||||
Weighted-average shares: diluted
|
82,114,661
|
|
|
81,163,386
|
|
|
82,129,601
|
|
|
79,066,768
|
|
||||
Loss per share: basic
|
$
|
(0.04
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(0.02
|
)
|
|
$
|
(0.24
|
)
|
Loss per share: diluted
|
$
|
(0.05
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(0.06
|
)
|
|
$
|
(0.24
|
)
|
|
Three months ended June 30,
|
|
Six months ended June 30,
|
||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||
Stock Options
|
352,015
|
|
|
1,038,071
|
|
|
364,444
|
|
|
1,050,202
|
|
Stock-Settled Stock Appreciation Rights
|
—
|
|
|
160,939
|
|
|
3,359
|
|
|
161,662
|
|
Restricted Stock Units (1)
|
527,082
|
|
|
1,473,155
|
|
|
518,295
|
|
|
1,472,581
|
|
Warrant
|
—
|
|
|
—
|
|
|
—
|
|
|
2,690,950
|
|
|
Lease Termination liability
|
||
Balance at December 31, 2018
|
$
|
509,937
|
|
Charges (included in selling, general and administrative expenses)
|
19,208
|
|
|
Cash payments, net of sublease income
|
(175,749
|
)
|
|
Balance at June 30, 2019
|
$
|
353,396
|
|
|
Common Stock
|
|
Additional Paid-in Capital
|
|
Accumulated Deficit
|
|
Other Comprehensive Income
|
|
Total Stockholders' Equity
|
|||||||||||||
|
Shares
|
|
Amount
|
|
||||||||||||||||||
Balances at March 31, 2019
|
80,941,524
|
|
|
$
|
8,094
|
|
|
$
|
220,222,959
|
|
|
$
|
(114,161,484
|
)
|
|
$
|
—
|
|
|
$
|
106,069,569
|
|
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,162,492
|
)
|
|
—
|
|
|
(3,162,492
|
)
|
|||||
Issuance of common stock upon vesting of RSUs
|
105,000
|
|
|
11
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
547,390
|
|
|
|
|
|
|
547,390
|
|
|||||||
Balances at June 30, 2019
|
81,046,524
|
|
|
$
|
8,105
|
|
|
$
|
220,770,338
|
|
|
$
|
(117,323,976
|
)
|
|
$
|
—
|
|
|
$
|
103,454,467
|
|
|
Common Stock
|
|
Additional Paid-in Capital
|
|
Accumulated Deficit
|
|
Other Comprehensive Income
|
|
Total Stockholders' Equity
|
|||||||||||||
|
Shares
|
|
Amount
|
|
||||||||||||||||||
Balances at December 31, 2018
|
80,763,350
|
|
|
$
|
8,076
|
|
|
$
|
218,697,872
|
|
|
$
|
(115,791,261
|
)
|
|
$
|
—
|
|
|
$
|
102,914,687
|
|
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,532,715
|
)
|
|
—
|
|
|
(1,532,715
|
)
|
|||||
Issuance of common stock upon exercise of stock options
|
9,769
|
|
|
1
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights
|
121,771
|
|
|
13
|
|
|
(13
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Issuance of common stock upon exercise of warrants
|
159,782
|
|
|
16
|
|
|
1,172,785
|
|
|
—
|
|
|
—
|
|
|
1,172,801
|
|
|||||
Payment of common stock tendered for employee stock-based compensation tax obligations
|
(8,148
|
)
|
|
(1
|
)
|
|
(56,589
|
)
|
|
—
|
|
|
—
|
|
|
(56,590
|
)
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
956,284
|
|
|
—
|
|
|
—
|
|
|
956,284
|
|
|||||
Balances at June 30, 2019
|
81,046,524
|
|
|
$
|
8,105
|
|
|
$
|
220,770,338
|
|
|
$
|
(117,323,976
|
)
|
|
$
|
—
|
|
|
$
|
103,454,467
|
|
|
Common Stock
|
|
Additional Paid-in Capital
|
|
Accumulated Deficit
|
|
Other Comprehensive Income
|
|
Total Stockholders' Deficiency
|
|||||||||||||
|
Shares
|
|
Amount
|
|
||||||||||||||||||
Balances at March 31, 2018
|
79,039,000
|
|
|
$
|
7,904
|
|
|
$
|
214,556,941
|
|
|
$
|
(549,181,345
|
)
|
|
$
|
—
|
|
|
$
|
(334,616,500
|
)
|
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(7,051,264
|
)
|
|
—
|
|
|
(7,051,264
|
)
|
|||||
Issuance of common stock upon exercise of stock options
|
13,037
|
|
|
1
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights
|
109,795
|
|
|
11
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Payment of common stock tendered for employee stock-based compensation tax obligations
|
(1,774
|
)
|
|
—
|
|
|
(12,328
|
)
|
|
—
|
|
|
—
|
|
|
(12,328
|
)
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
362,361
|
|
|
—
|
|
|
—
|
|
|
362,361
|
|
|||||
Balances at June 30, 2018
|
79,160,058
|
|
|
$
|
7,916
|
|
|
$
|
214,906,962
|
|
|
$
|
(556,232,609
|
)
|
|
$
|
—
|
|
|
$
|
(341,317,731
|
)
|
|
Common Stock
|
|
Additional Paid-in Capital
|
|
Accumulated Deficit
|
|
Other Comprehensive Income
|
|
Total Stockholders' Deficiency
|
|||||||||||||
|
Shares
|
|
Amount
|
|
||||||||||||||||||
Balances at December 31, 2017
|
79,039,000
|
|
|
$
|
7,904
|
|
|
$
|
214,229,581
|
|
|
$
|
(537,375,776
|
)
|
|
$
|
—
|
|
|
$
|
(323,138,291
|
)
|
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(18,633,520
|
)
|
|
—
|
|
|
(18,633,520
|
)
|
|||||
Issuance of common stock upon exercise of stock options
|
13,037
|
|
|
1
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights
|
109,795
|
|
|
11
|
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Payment of common stock tendered for employee stock-based compensation tax obligations
|
(1,774
|
)
|
|
—
|
|
|
(12,328
|
)
|
|
—
|
|
|
—
|
|
|
(12,328
|
)
|
|||||
Cumulative effect of accounting change
|
—
|
|
|
—
|
|
|
—
|
|
|
(223,313
|
)
|
|
—
|
|
|
(223,313
|
)
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
689,721
|
|
|
—
|
|
|
—
|
|
|
689,721
|
|
|||||
Balances at June 30, 2018
|
79,160,058
|
|
|
$
|
7,916
|
|
|
$
|
214,906,962
|
|
|
$
|
(556,232,609
|
)
|
|
$
|
—
|
|
|
$
|
(341,317,731
|
)
|
2019
|
|
$
|
292,613
|
|
2020
|
|
591,108
|
|
|
2021
|
|
600,362
|
|
|
2022
|
|
368,467
|
|
|
2023
|
|
402,078
|
|
|
Thereafter
|
|
1,387,139
|
|
|
Total undiscounted cash flows under leases
|
|
3,641,767
|
|
|
Less: Imputed interest
|
|
(551,116
|
)
|
|
Present value of lease liabilities
|
|
$
|
3,090,651
|
|
2019
|
|
$
|
541,376
|
|
2020
|
|
304,000
|
|
|
2021
|
|
304,000
|
|
|
2022
|
|
320,774
|
|
|
2023
|
|
352,000
|
|
|
Thereafter
|
|
1,197,778
|
|
|
Total
|
|
$
|
3,019,928
|
|
|
|
SIGA TECHNOLOGIES, INC.
|
||
|
|
(Registrant)
|
||
|
|
|
||
Date:
|
August 6, 2019
|
By:
|
/s/ Daniel J. Luckshire
|
|
|
|
|
Daniel J. Luckshire
|
|
|
|
|
Executive Vice President and
|
|
|
|
|
Chief Financial Officer
|
|
|
|
|
(Principal Financial Officer and
|
|
|
|
|
Principal Accounting Officer)
|
Contract No. HHSO100201100023C Modification No. 19
|
Continuation Sheet
Block 14 |
Page 3 of 4
|
1.
|
ARTICLE B.4. Advance Understandings, b. Indirect Costs, is replaced with the following:
|
•
|
G&A: [redacted]
|
•
|
Overhead: [redacted]
|
•
|
Fringe: [redacted]
|
Contract No. HHSO100201100023C Modification No. 19
|
Continuation Sheet
Block 14 |
Page 4 of 4
|
2.
|
The pricing under ARTICLE B.5 – OPTION(S) is updated for CLINs 3, 4, and 6 as follows:
|
CLINS
|
Specified Time
|
Date
|
Description of Work
|
Estimated Cost
|
Fee
|
Extended Cost
|
CLIN 0003
|
IV Option 2
|
Jan 2018 – Dec 2019
|
Phase I Single Ascending Dose/Single Dose Crossover Clinical Study
|
[redacted]
|
[redacted]
|
[redacted]
|
CLIN 0004
|
IV Option 3
|
Jan 2017 – Dec 2020
|
NHP MPXV Challenge Study Phase I
|
[redacted]
|
[redacted]
|
[redacted]
|
CLIN 0006
|
IV Option 5
|
July 2016 – June 2020
|
Scale-up, Process Validation and DP Stability
|
[redacted]
|
[redacted]
|
[redacted]
|
3.
|
|
•
|
IV Option 2 (CLIN #0003), Phase I Single Ascending Dose/Single Dose Crossover Clinical Study. This CLIN is increased in the amount of [redacted] (estimated cost) for a total increased amount of [redacted].
|
•
|
IV Option 3 (CLIN #0004), NHP MPXV Challenge Study Phase I. This CLIN is increased in the amount of [redacted] (estimated cost) for a total increased amount of [redacted].
|
•
|
IV Option 5 (CLIN #0006), Scale-up, Process Validation and DP Stability. This CLIN is increased in the amount of [redacted] (estimated cost) for a total increased amount of [redacted].
|
4.
|
The total contract funded amount under this contract has been increased as follows:
|
-
|
The total contract amount funded under this contract (inclusive of fixed fee) is increased by $2,114,660 from $36,804,565.90 to $38,919,225.90. For further provisions on funding, see the Limitations of Costs clause in PART II -Section I, Clauses.
|
AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT
|
1. CONTRACT ID CODE
|
PAGE OF PAGES
|
||||||||
1
|
4
|
|||||||||
2. AMENDMENT/MODIFICATION NO.
P00019
|
3. EFFECTIVE DATE
See Block 16C
|
4. REQUISITION/PURCHASE REQ. NO
See Schedule
|
5. PROJECT NO.
(If applicable)
|
|||||||
6. ISSUED BY
|
CODE
|
HHS/OS/ASPR/BARDA
|
7. ADMINISTERED BY
(IF OTHER THAN ITEM 6)
|
CODE
|
ASPR-BARDA02
|
|||||
HHS/OS/ASPR/BARDA
330 Independence Ave., S.W.
Room 640-G
Washington, DC 20201
|
ASPR-BARDA
330 Independence Ave, SW, Rm G640
Washington DC 20201
|
|||||||||
8. NAME AND ADDRESS OF CONTRACTOR
(
No., street, county, State and Zip Code
)
SIGA TECHNOLOGIES, INC. 1385150
SIGA TECHNOLOGIES, INC. 35 E 6
35 E 62ND ST
NEW YORK, NY 100658014
|
(x)
|
9A. AMENDMENT OF SOLICITATION NO
|
||||||||
|
|
|||||||||
9B. DATED (
SEE ITEM 11
)
|
||||||||||
x
|
10A. MODIFICATION OF CONTRACT/ORDER NO
HHSO100201100023C
|
|||||||||
CODE: 1385150
|
FACILITY CODE:
|
10B. DATED (
SEE ITEM 13
)
06/01/2011
|
||||||||
11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS
|
CONTINUATION SHEET
|
REFERENCE NO. OF DOCUMENT BEING CONTINUED
HHSO100201100023C/P00019
|
PAGE OF
|
||||||
2
|
4
|
|||||||
NAME OF OFFEROR OR CONTRACTOR
SIGA TECHNOLOGIES, INC. 1385150
|
||||||||
ITEM NO.
(A)
|
SUPPLIES/SERVICES
(B)
|
QUANTITY
(C)
|
UNIT
(D)
|
UNIT PRICE
(E)
|
AMOUNT
(F)
|
|||
6
|
Period of Performance: 05/15/2011 to 12/30/2020
Change Item 6 to read as follows (amount shown is the obligated amount):
ASPR-16-01298 -- Supplemental funds to SIGA Technologies under CLIN 0006 HHSO100201100023C Requisition No: OS173541, OS175534, OS236336
Delivery: 05/09/2016
Amount: [redacted]
Accounting Info:
2016.1992016.25103 Appr. Yr.: 2016 CAN: 1992016 Object Class: 25103
Funded: [redacted]
Amount: [redacted]
Accounting Info:
2016.1992016.25103 Appr. Yr.: 2016 CAN: 1992016 Object Class: 25103
Funded: [redacted]
Amount: [redacted]
Accounting Info:
2019.1992019.25106 Appr. Yr.: 2019 CAN: 1992019 Object Class: 25106
Funded: [redacted]
|
|
|
|
[redacted]
|
|||
7
|
Change Item 7 to read as follows (amount shown is the obligated amount):
ASPR-17-00856 -- Exercise of CLINS 3 4 5 7 8 to
SIGA Technologies Inc HHSO100201100023C
Requisition No: OS190398, OS236383, OS236678
Delivery: 12/31/2020
Amount: [redacted]
Accounting Info:
2017.1992017.25103 Appr. Yr.: 2017 CAN: 1992017 Object Class: 25103
Funded: [redacted]
Amount: [redacted]
Accounting Info:
2019.1992019.25106 Appr. Yr.: 2019 CAN: 1992019 Object Class: 25106
Funded: [redacted]
Amount: [redacted]
Accounting Info:
2019.1992018.25106 Appr. Yr.: 2019 CAN: 1992018 Object Class: 25106
Funded: [redacted]
|
|
|
|
[redacted]
|
|
By:
/s/ Daniel J. Luckshire
|
|
|
|
Name: Daniel Luckshire
|
|
|
Title: CFO
|
|
|
|
|
By:
/s/ Matthew Trybula
|
|
|
|
Name: Matthew Trybula
|
|
|
Title: Associate Counsel _______________________
|
|
By: Oaktree Fund GP IIA, LLC
Its: Manager
By: Oaktree Fund GP II, L.P.
Its: Managing Member
By:
/s/ Nilay Mehta
Name: Nilay Mehta
Title: SVP
By:
/s/ Edgar Lee
|
|
|
|
Name: Edgar Lee
|
|
|
Title: Managing Director
|
|
|
|
1.
|
I have reviewed this quarterly report on Form 10-Q of SIGA Technologies, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: August 6, 2019
|
|
/s/ Phillip L. Gomez, Ph.D.
|
Phillip L. Gomez, Ph.D.
|
Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of SIGA Technologies, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
(c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date: August 6, 2019
|
|
/s/ Daniel J. Luckshire
|
Daniel J. Luckshire
|
Executive Vice President and
Chief Financial Officer
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
/s/ Phillip L. Gomez, Ph.D.
|
Phillip L. Gomez, Ph.D.
|
Chief Executive Officer
|
August 6, 2019
|
(1)
|
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
(2)
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
/s/ Daniel J. Luckshire
|
Daniel J. Luckshire
|
Executive Vice President and Chief Financial Officer
|
August 6, 2019
|