Stock News Alert: SIGA Technologies (NASDAQ:SIGA)

SIGA Technologies (NASDAQ:SIGA) stock observed trading -22.31% off 52-week high price. On the other end, the stock has been noted 22.22% away from low price over the last 52-weeks. The stock disclosed a move of 0.95% away from 50 day moving average and -5.67% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.61% off 20-day moving average. It has market cap of $411.64M.

On April 3, 2020, SIGA Technologies (NASDAQ:SIGA) a commercial-stage pharmaceutical company focused on the health security market, released that the Canadian Department of National Defence (CDND) has awarded a contract to Meridian Medical Technologies (Meridian, a Pfizer Company) (Canadian Contract), in which it will purchase up to 15,325 courses of oral TPOXX (tecovirimat) over four years for a total value of $14.3 million, with an initial purchase of 2,500 courses for $2.3 million.

The current COVID-19 pandemic has reminded us all that preparedness with medical countermeasures is critical for responding effectively to any infectious disease outbreak, said Dr. Phil Gomez, CEO of SIGA Technologies. Smallpox remains a key threat, and TPOXX is an important component of any smallpox response plan.  This procurement by the Canadian military is an important first step, and we look forward to continuing to work with Meridian to support potential future procurements with both the CDND and Health Canada to protect Canada’s military and civilian population.

SIGA expects delivery of up to an additional 12,825 courses under the Canadian Contract to occur after regulatory approval in Canada.  SIGA previously received a contract from the CDND to fund this regulatory submission.  The Company is currently targeting a Canadian regulatory filing in the second half of 2020, with regulatory approval anticipated in 2021.  This contract represents the first international order for TPOXX. As part of a previously announced promotion agreement, Meridian is the counterparty to the Canadian Contract and SIGA is responsible for the manufacture and delivery of product.

The USA based company SIGA Technologies moved with change of 1.47% to $4.84 with the total traded volume of 613615 shares in recent session versus to an average volume of 220.72K shares. The stock was observed in the 5 days activity at 2.33%. The one month performance of stock was 2.11%. SIGA’s shares are at -0.62% for the quarter and driving a -20.53% return over the course of the past year and is now at 1.47% since this point in 2018.  Right now the stock beta is 0.14. The average volatility for the week and month was at 7.44% and 9.71% respectively. There are 85.05M shares outstanding and 53.88M shares are floated in market.

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Shawn Harris

Shawn Harris is a Master’s in Business Administration by education. After completing his post-graduation, Shawn jumped the journalism bandwagon as a freelance journalist. Soon after that he landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor. As an avid day trader, Shawn is a master of technical analysis and writes tirelessly on how stocks are trading. He has extensive knowledge in technical analysis & news writing.

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