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Siga Technologies Inc (SIGA) stock

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NASDAQ: SIGA Nasdaq Biotechnology Next results ~November 9, 2026

C+ Fundamentals grade

Siga Technologies Inc is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$8.3

Cash-flow model

Base case. Range ~$6.7–$10 across our lower- and higher-growth cases (-1%–9% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 180% above it.

Price used: $2.95, November 2, 2026

Siga Technologies Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds95 adding, 80 cuttingOf 34 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Siga Technologies files

Where Siga Technologies stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $54m, down 70.1% on a year earlier, a steeper fall than the 22.1% decline a quarter earlier. That puts it 108 of 122 for growth among the biotechnology companies we cover. Free-cash-flow margin fell to -38.2% from 66.2% a year earlier. Operating margin narrowed to -20.8% from 56.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $6.19 a share, against a share price of $3.17.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Siga Technologies Inc's trailing-twelve-month revenue fell 70.1% year on year, with a free-cash-flow margin of -38.2%. Where it stands out: change in share count of 0.1% ranks 23 of 156 biotechnology companies we cover. Where it lags: revenue growth of -70.1% ranks 154 of 172 biotechnology companies we cover.

Our discounted-cash-flow model values the business at ~$8.3 per share in the base case (~$6.7–$10 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Gross margin compressing: TTM gross margin fell to 54.4%, down 22.6pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $2.95 is 180% below our value per share of $8.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 70.1% over the last 12 months.
  • Growth slowing. The growth rate is 48.1 points lower than a quarter earlier.
  • Loss-making. Operating margin is -20.8%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 77.0 points on a year ago.
  • Burning cash. Free cash flow was -38.2% of revenue over the last 12 months.

Latest results: FY2026 Q2

Filed August 6, 2026
Revenue
$41m, down 49.5% on a year earlier
Share reaction
-3.2% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 9, 2026

Siga Technologies' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.0%
  • 1 week-6.6%
  • 1 month-12.7%
  • This year-45.4%
  • 1 year-59.7%
  • 5 years-38.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$53.7M
Operating margin
-20.8%
Net margin
-5.2%
EPS (TTM, diluted)
$-0.04

Growth

Revenue growth
−70.1%
Change in growth rate
−48.1 pts
Share count change
+0.1%

Cash

Free cash flow (TTM)
-$20.5M
FCF margin
-38.2%
Stock pay % of revenue
6.5%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Siga Technologies Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 15.6% a year for five years.That is close to the -16.7% a year revenue growth Siga Technologies has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-15.6%
  • Last 12 months-70.1%
  • 3 years a year-18.1%
  • 5 years a year-16.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($3.08, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$8.2
Price used
$3.08close November 3, 2026
Implied change
▲ +167%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Siga Technologies Inc's free cash flow after stock-based pay with after-tax interest added back ($17.6M, FY2026 Q2 TTM), growing 51.1% and 4% in the next two years (forecasts, guidance and its record), then back to 4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$6.7–~$10 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Siga Technologies Inc's free cash flow after stock-based pay ( $17.6M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Siga Technologies Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.8%: the 10-year Treasury yield (4.9%) plus a beta of 1.07 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$8.3 ~$6.7–$10 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$12 ~$9.2–$17 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$11 ~$9.6–$13 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$9.9 ~$8.3–$12 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Siga Technologies Inc with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $5$6$8$10$13$17
8.5% $4$5$6$8$10$13
10% $4$5$5$7$8$10

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$1.87$3.14$5.12$3.09$4.71$4.87$5.07$4.18$4.81$5.41$2.95
Market value$107m$248m$423m$254m$374m$372m$373m$300m$346m$388m$212m
+ Net debt (− = net cash)$38m$51m−$25m−$65m−$118m−$103m−$99m−$150m−$155m−$155m−$118m
Enterprise value$145m$299m$398m$189m$256m$269m$274m$149m$191m$233m$95m
Multiples
Price / sales 7.1x20.2x0.9x9.5x3.0x2.8x3.4x2.1x2.5x4.1x4.0x
Price / earnings ——1.0x—6.6x5.4x11.0x4.4x5.8x16.7x—
Price / free cash flow ——6.2x—5.2x32.5x9.0x3.2x7.1x9.0x—
EV / EBITDA ——1.1x—3.0x3.0x6.3x1.8x2.7x9.6x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

71 /100

Strong moat

How hard Siga Technologies's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 30.7% of total assets over 9 years.

  • Pricing power 12 / 20

    Gross margin has been a median 85.8%, moving by 12.2 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median 56.3%; its worst year was -260.3%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 6 of 9 years, at a median 16.1% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 7.2% over five years; stock-based pay has been a median 2.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (76 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.05 −84% $60m −37%
Next $1.08 +2060% $162m +171%

Next year's EPS estimate has moved +2.9% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −66.7% on 90 days ago. In the last 30 days, 0 analysts raised Siga Technologies Inc's forecast and 1 cut it.

Consensus EPS forecast Siga Technologies Inc, last 90 days
$0.00 $0.50 $1.00 $1.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.15 Current fiscal year, 60 days ago: $0.15 Current fiscal year, 30 days ago: $0.15 Current fiscal year, 7 days ago: $0.15 Current fiscal year, Now: $0.05 $0.05 Next fiscal year, 90 days ago: $1.05 Next fiscal year, 60 days ago: $1.05 Next fiscal year, 30 days ago: $1.05 Next fiscal year, 7 days ago: $1.05 Next fiscal year, Now: $1.08 $1.08

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.15$1.05
60 days ago $0.15$1.05
30 days ago $0.15$1.05
7 days ago $0.15$1.05
Now $0.05$1.08

How our valuation uses these forecasts

Our cash-flow model grows Siga Technologies Inc's revenue by +51.1% next year and +4.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+107.5%, weight 45%) and the company's own record (+4.0%, weight 55%) . How the weights are set.

Positioning

Short interest
7.7%
of tradable shares
Days to cover
5.68
at average volume
Short interest, 1 month
−4%
to October 15, 2026
Held by institutions
50%
of shares
Held by insiders
42.7%
of shares
Employees
49
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −59.7%

$7.32 on October 31, 2025 to $2.95

ThenNowEffect
Revenue (last 12 months) $180m $54m −70.1%
P/S multiple 2.9x 4.0x +35.0%
Share count 72m 72m −0.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −22.8%

$3.82 on November 3, 2023 to $2.95

ThenNowEffect
Revenue (last 12 months) $98m $54m −45.1%
P/S multiple 2.8x 4.0x +39.5%
Share count 73m 72m +0.8%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SIGA+3%+4%−18%+15%+12%−45%
Industry peers (median)−36%−57%−17%−29%−5%−26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SIGA50%33%50%58%58%27%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SIGA−26%−72%−45%−52%−39%−53%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 84% from August 15, 2022 to August 12, 2026. Getting back needed a 528% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.87 – $7.46
From 52-week high
−60.4%
vs 50-day average
−7.3%
vs 200-day average
−29.3%
Volatility (1 year)
45%
Beta vs S&P 500
0.66

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±10.9%
After a week
4 up, 8 down
typical move ±19.4%
After a month
6 up, 6 down
typical move ±22.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −3.2% +0.5% −8.6% +4.4%
May 7, 2026 +2.1% +0.5% −9.4% −7.9%
March 10, 2026 −2.1% −0.3% −10.4% −11.2%
November 6, 2025 −22.4% −1.0% −27.9% −27.0%
August 5, 2025 +9.2% +0.3% +39.8% +27.7%
May 8, 2025 +7.8% +0.6% +12.8% +15.4%
March 11, 2025 +4.9% −0.3% +0.9% +6.7%
November 7, 2024 −1.9% +1.2% −18.4% −10.1%
August 1, 2024 −12.8% −3.3% −8.0% −9.5%
May 7, 2024 −27.8% +0.1% −24.4% −26.7%
March 12, 2024 +31.9% +0.9% +70.6% +102.2%
November 7, 2023 −4.4% +0.4% −2.0% +16.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Siga Technologies Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Siga Technologies Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Siga Technologies Inc
$0 $50M $100M $150M $200M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $34.8M Revenue (TTM), FY23 Q4: $139.9M Revenue (TTM), FY24 Q1: $157M Revenue (TTM), FY24 Q2: $173M Revenue (TTM), FY24 Q3: $173.7M Revenue (TTM), FY24 Q4: $138.7M Revenue (TTM), FY25 Q1: $120.3M Revenue (TTM), FY25 Q2: $179.6M Revenue (TTM), FY25 Q3: $172.2M Revenue (TTM), FY25 Q4: $94.6M Revenue (TTM), FY26 Q1: $93.8M Revenue (TTM), FY26 Q2: $53.7M $53.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $34.8M
FY23 Q4 $139.9M
FY24 Q1 $157M
FY24 Q2 $173M
FY24 Q3 $173.7M
FY24 Q4 $138.7M
FY25 Q1 $120.3M
FY25 Q2 $179.6M
FY25 Q3 $172.2M
FY25 Q4 $94.6M
FY26 Q1 $93.8M
FY26 Q2 $53.7M
Revenue growth, TTM YoY Siga Technologies Inc
-200% 0% 200% 400% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -83.8% Revenue growth, TTM YoY, FY23 Q4: 26.3% Revenue growth, TTM YoY, FY24 Q1: 44.6% Revenue growth, TTM YoY, FY24 Q2: 76.9% Revenue growth, TTM YoY, FY24 Q3: 399.3% Revenue growth, TTM YoY, FY24 Q4: -0.9% Revenue growth, TTM YoY, FY25 Q1: -23.4% Revenue growth, TTM YoY, FY25 Q2: 3.9% Revenue growth, TTM YoY, FY25 Q3: -0.9% Revenue growth, TTM YoY, FY25 Q4: -31.8% Revenue growth, TTM YoY, FY26 Q1: -22.1% Revenue growth, TTM YoY, FY26 Q2: -70.1% -70.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -83.8%
FY23 Q4 26.3%
FY24 Q1 44.6%
FY24 Q2 76.9%
FY24 Q3 399.3%
FY24 Q4 -0.9%
FY25 Q1 -23.4%
FY25 Q2 3.9%
FY25 Q3 -0.9%
FY25 Q4 -31.8%
FY26 Q1 -22.1%
FY26 Q2 -70.1%
Operating margin (TTM) Siga Technologies Inc
-50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -28.3% Operating margin (TTM), FY23 Q4: 59.8% Operating margin (TTM), FY24 Q1: 61.8% Operating margin (TTM), FY24 Q2: 59.4% Operating margin (TTM), FY24 Q3: 60.2% Operating margin (TTM), FY24 Q4: 50.4% Operating margin (TTM), FY25 Q1: 46.9% Operating margin (TTM), FY25 Q2: 56.3% Operating margin (TTM), FY25 Q3: 52.4% Operating margin (TTM), FY25 Q4: 25.1% Operating margin (TTM), FY26 Q1: 22.0% Operating margin (TTM), FY26 Q2: -20.8% -20.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -28.3%
FY23 Q4 59.8%
FY24 Q1 61.8%
FY24 Q2 59.4%
FY24 Q3 60.2%
FY24 Q4 50.4%
FY25 Q1 46.9%
FY25 Q2 56.3%
FY25 Q3 52.4%
FY25 Q4 25.1%
FY26 Q1 22.0%
FY26 Q2 -20.8%
FCF margin (TTM) Siga Technologies Inc
-50% 0% 50% 100% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 22.0% FCF margin (TTM), FY23 Q4: 67.7% FCF margin (TTM), FY24 Q1: 40.9% FCF margin (TTM), FY24 Q2: 42.6% FCF margin (TTM), FY24 Q3: 41.1% FCF margin (TTM), FY24 Q4: 35.1% FCF margin (TTM), FY25 Q1: 51.4% FCF margin (TTM), FY25 Q2: 66.2% FCF margin (TTM), FY25 Q3: 67.5% FCF margin (TTM), FY25 Q4: 45.6% FCF margin (TTM), FY26 Q1: 29.2% FCF margin (TTM), FY26 Q2: -38.2% -38.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 22.0%
FY23 Q4 67.7%
FY24 Q1 40.9%
FY24 Q2 42.6%
FY24 Q3 41.1%
FY24 Q4 35.1%
FY25 Q1 51.4%
FY25 Q2 66.2%
FY25 Q3 67.5%
FY25 Q4 45.6%
FY26 Q1 29.2%
FY26 Q2 -38.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Siga Technologies took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $94.6M
  2. Other income $6.7M · 7.1%
  3. Cost of revenue $29.7M · 31.4%
  4. Gross profit $64.9M · 68.6%
  5. Research and development $20M · 21.1%
  6. Selling, general and admin $21.2M · 22.4%
  7. Operating income $23.7M · 25.1%
  8. Income tax $7.1M · 7.5%
  9. Net income $23.3M · 24.6%

Shares of revenue. Source: Siga Technologies's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 15 12 477 27 125 134 111 140 139 95 54
Gross profit 15 12 382 25 110 117 100 122 107 65 29
EBITDA −31 −19 355 −2 85 90 43 84 71 24 −11
Operating income −31 −19 355 −2 85 89 43 84 70 24 −11
Net income −40 −36 422 −7 56 69 34 68 59 23 −3
Diluted EPS −$0.69 −$0.46 $5.18 −$0.15 $0.71 $0.91 $0.46 $0.95 $0.82 $0.32 −$0.04
Growth (year on year)
Revenue — −18.1% +>999% −94.4% +367.3% +7.0% −17.1% +26.3% −0.9% −31.8% −70.1%
EBITDA — — — −100.5% — +5.4% −51.8% +94.7% −16.2% −65.6% −110.4%
Operating income — — — −100.7% — +5.4% −52.1% +95.8% −16.3% −66.1% −111.0%
Net income — — — −101.7% — +23.3% −51.2% +100.8% −13.0% −60.7% −103.4%
Diluted EPS — — — −102.9% — +28.2% −49.5% +106.5% −13.7% −61.0% −103.4%
Margins
Gross margin 100.0% 100.0% 80.0% 93.3% 88.2% 87.6% 90.6% 87.3% 77.4% 68.6% 54.4%
EBITDA margin −205.8% −152.6% 74.5% −6.7% 68.0% 67.0% 39.0% 60.1% 50.8% 25.7% −19.7%
Operating margin −206.9% −153.6% 74.4% −8.7% 67.6% 66.7% 38.5% 59.8% 50.4% 25.1% −20.8%
Net margin −264.9% −295.3% 88.4% −27.1% 45.1% 52.0% 30.6% 48.6% 42.7% 24.6% −5.2%
Free-cash-flow margin −779.6% −150.7% 14.4% −68.2% 57.2% 8.6% 37.6% 67.7% 35.1% 45.6% −38.2%
Cash flow
Cash from operations −117 −18 69 −18 72 11 42 95 49 43 −20
Capital spending 0 0 0 0 0 0 0 0 0 0 0
Free cash flow −117 −18 69 −18 72 11 42 95 49 43 −20
Stock-based pay 1 1 2 2 1 1 2 2 4 4 4
Free cash flow after stock pay −118 −20 66 −20 70 10 40 93 45 39 −24
Balance sheet
Cash 29 20 101 65 118 103 99 150 155 155 118
Total debt 67 71 76 — 0 0 0 0 0 0 0
Net debt (negative = net cash) 38 51 −25 −65 −118 −103 −99 −150 −155 −155 −118
Diluted shares 57m 79m 83m 82m 79m 76m 74m 72m 72m 72m 72m
Returned to shareholders
Dividends — — — — 0 0 33 32 43 43 44
Buybacks 0 0 0 0 29 26 13 11 0 0 —
Total returned 0 0 0 0 29 26 46 43 43 43 44

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $176m
Short-term assets $170mLonger-term assets $5m
What it owes, and who funded it · $176m
Short-term liabilities $8mLonger-term liabilities $3mShareholders' equity $165m
  • Short-term assets cover short-term liabilities $170m of assets due within a year against $8m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $170m short-term assets against $3m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Siga Technologies Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$43.6M
Buybacks, last 3 fiscal years
$11.1M
Diluted share count
+0.1%
year over year
Total shareholder yield
20.6%
dividends 20.6% + buybacks 0.0% of market value
R&D spending
38.1%
of revenue
Sales & admin spending
37.0%
of revenue
Days sales outstanding
49 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated SIGA TNGX GOSS NKTR OCUL IVVD Median
Revenue, last 12 months $54m $54m $53m $55m $52m $58m $56m
Revenue growth, last 12 months −70.1% 121.5% 32.4% −27.2% −8.1% 26.3% 12.6%
Revenue growth, 3-year average −18.1% 16.9% — −14.6% −1.6% — 13.7%
Revenue growth, latest quarter −49.5% −100.0% −19.6% −9.3% 0.1% 21.2% 10.2%
Gross margin 54.4% — — 100.0% 87.1% — 82.9%
Operating margin −20.8% −253.4% −311.7% −257.8% −603.0% −192.8% −189.4%
Operating margin, 3-year average 31.6% −404.1% −252.1% −189.3% −397.7% <−999% −363.5%
Net margin −5.2% −229.9% −235.0% −287.8% −579.1% −183.9% −169.8%
Cash from operations / revenue −37.6% −267.4% −305.2% −428.3% −457.7% −185.8% −168.0%
Free-cash-flow margin −38.2% −268.1% −305.2% −428.7% −490.1% −187.9% −162.4%
Free-cash-flow margin, 3-year average 23.6% −388.7% −231.0% −288.4% −318.3% <−999% −310.0%
Stock pay / revenue 6.5% 74.9% 26.9% 22.0% 102.4% 19.2% 20.0%
Change in share count 0.1% 21.8% 14.3% 6.2% 26.4% 14.0% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth -70.1% 12.6% 154 of 172
Change in growth rate Growth -48.1pp -0.1pp 142 of 172
Gross margin Profitability 54.4% 82.4% 65 of 75
Operating margin Profitability -20.8% -189.4% 53 of 175
Net margin Profitability -5.2% -157.3% 41 of 180
Free-cash-flow margin Cash generation -38.2% -145.4% 60 of 176
Stock pay as % of revenue Cash generation 6.5% 19.2% 44 of 179
Change in share count Balance sheet 0.1% 7.9% 23 of 156
Days sales outstanding Balance sheet 49 days 75 days 29 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Product Sales and Supportive Services $88M 93.1% ▼ 34.0%
Research and Development $6.5M 6.9% ▲ 21.1%
Geography
Region Revenue YoY
United States $88.8M ▼ 23.3%
Canada $5.8M ▲ 689.1%
Outside the US $5.8M ▼ 74.7%
Asia Pacific $0 ▼ 100.0%
EMEA $0 ▼ 100.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Siga Technologies Inc's 10-K filed March 10, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$127M
Institutions reporting
161
Shares held vs prior quarter
▲ 1.3%
Positions opened / closed
15 / 34

Top buyers and sellers, Q2 2026: 95 institutions bought and 80 sold ; the biggest buyer was Blackrock, Inc (+692K shares) and the biggest seller HRT Financial LP (−360K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $15.2M 4.2M 12.0% ▲ 19.8%
Dimensional Fund Advisors LP $9.9M 2.7M 7.8% ▲ 0.6%
Altravue Capital, LLC $8.5M 2.3M 6.7% ▼ 4.3%
Vanguard Capital Management LLC $6.2M 1.7M 4.9% ▼ 0.1%
American Century Companies Inc $5.5M 1.5M 4.3% ▲ 14.3%
Arrowstreet Capital, Limited Partnership $5.4M 1.5M 4.2% ▼ 3.4%
Geode Capital Management, LLC $5.2M 1.4M 4.1% ▲ 7.7%
First Wilshire Securities Management Inc $4.9M 1.3M 3.8% ▲ 50.5%
AQR Capital Management LLC $4.5M 1.2M 3.6% ▲ 2.2%
State Street Corp $4.1M 1.1M 3.3% ▲ 12.1%
Hotchkis & Wiley Capital Management LLC $3.3M 914K 2.6% ▲ 10.5%
Qube Research & Technologies Ltd $2.7M 741K 2.1% ▲ 78.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Siga Technologies Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • March 10, 2026
  • November 6, 2025
  • August 5, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Siga Technologies Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Siga Technologies Inc in brief

What does Siga Technologies Inc do?
Siga Technologies Inc is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Siga Technologies Inc's stock ticker?
Siga Technologies Inc trades under the ticker SIGA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Siga Technologies Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Siga Technologies Inc reported revenue of $53.7M, 70.1% lower than a year earlier, according to its SEC filings.
What is Siga Technologies Inc's free cash flow?
Siga Technologies Inc's free-cash-flow margin is -38.2% of revenue over the trailing twelve months, ranking 60 of the 176 biotechnology companies we cover.
What is Siga Technologies Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Siga Technologies Inc's free cash flow after stock-based pay gives ~$8.3 per share in the base case, and ~$6.7–$10 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Siga Technologies Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Dimensional Fund Advisors LP and Altravue Capital, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Siga Technologies Inc's market cap?
On November 2, 2026, Siga Technologies Inc's market capitalisation was about $212M and net debt of -$118M. Market figures come from third-party market data and may be delayed.
Does Siga Technologies Inc pay a dividend?
Yes: Siga Technologies Inc paid $43.6M in dividends over the trailing twelve months, a dividend yield of 20.55%.
Who are Siga Technologies Inc's competitors?
In our Biotechnology peer group, the companies closest to Siga Technologies Inc are Tango Therapeutics, Inc., Gossamer Bio, Inc., Nektar Therapeutics, Ocular Therapeutix, Inc and Invivyd, Inc. The side-by-side comparison below sets their revenue, margins and growth against Siga Technologies Inc's.
When is Siga Technologies Inc's next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Siga Technologies Inc announces its own schedule.