SIGA Technologies

SIGA

Drug Manufacturers - Specialty & Generic · Healthcare

Price

$3.04

+0.07 (+2.36%)

Market Cap

$218.0M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

Dividends

Good

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Share count falling — buybacks

−6.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 76.4M (2021) → 71.6M (2025)

Winston Score History

The full picture

SIGA Technologies is a small pharmaceutical company focused on making medicines to fight infectious diseases, especially ones that could be used in bioterrorism attacks. Its main product is TPOXX (tecovirimat), an antiviral drug approved to treat smallpox. The primary customer is the U.S. government, which stockpiles TPOXX through agencies like the Biomedical Advanced Research and Development Authority (BARDA) as part of national emergency preparedness.

SIGA makes most of its money through large government procurement contracts, meaning revenue can be lumpy and unpredictable depending on when new orders are placed. The company operates mainly in the United States, though it has pursued international sales and has explored TPOXX's use against mpox (monkeypox). Its moat comes from being the only FDA-approved oral smallpox treatment, but that narrow focus is also its biggest risk — the business is almost entirely dependent on continued U.S. government spending on biodefense stockpiles, which can shift with budget priorities.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-49.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-66.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$7M/ year

↓ Declining (-47% vs prior year)

6.9% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

42.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$118M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

SIGA Technologies's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-8.1%

Thin — -8.1% gross margin

Profit after running costs

Operating Margin

33.9%

Excellent — 33.9% operating margin

Return on the money invested

ROCE

-6.7%

Weak — -6.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-70.1%

Shrinking sales (-70.1% YoY)

Profit growth

EPS YoY

-103.8%

Earnings shrinking (-103.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-54.3%

Burning cash (-54.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

19.74%

Healthy income — 19.74% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

N/A

Data not available

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