SIGA (SIGA) 10-K 6 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 15, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	SIGA TECHNOLOGIES INC
Entity Central Index Key	1,010,086
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	SIGA
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		80,941,524
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Public Float			$ 314,197,559

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 100,652,809	$ 19,857,833
Restricted cash - short-term	11,452,078	10,701,305
Accounts receivable	1,959,133	1,802,107
Inventory	2,908,210	2,983,249
Prepaid expenses and other current assets	4,317,615	2,019,999
Total current assets	121,289,845	37,364,493
Property, plant and equipment, net	171,274	138,640
Restricted cash - long-term	68,292,023	6,542,448
Deferred costs	0	96,592,334
Deferred tax asset, net	11,733,385	2,431,963
Goodwill	898,334	898,334
Other assets	1,058,880	702,167
Total assets	203,443,741	144,670,379
LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIENCY)
Accounts payable	1,688,488	1,328,867
Accrued expenses and other current liabilities	9,648,917	5,481,579
Total current liabilities	11,337,405	6,810,446
Deferred revenue	0	377,641,485
Other liabilities	1,263,113	840,253
Long-term debt	75,547,597	71,050,324
Total liabilities	100,529,054	467,808,670
Stockholders' equity/(deficiency)
Common stock ($.0001 par value, 600,000,000 shares authorized, 80,763,350 and 79,039,000 issued and outstanding at December 31, 2018, and December 31, 2017, respectively)	8,076	7,904
Additional paid-in capital	218,697,872	214,229,581
Accumulated deficit	(115,791,261)	(537,375,776)
Total stockholders' equity/(deficiency)	102,914,687	(323,138,291)
Total liabilities and stockholders' equity/(deficiency)	$ 203,443,741	$ 144,670,379

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2018	Dec. 31, 2016
Balance Sheet Parenthetical [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	80,763,350	79,039,000
Common stock, shares outstanding	80,763,350	79,039,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Total revenues	$ 477,053,782	$ 12,268,960	$ 14,987,628
Operating expenses
Cost of sales and supportive services	95,268,974	0	0
Selling, general and administrative	12,879,738	12,303,050	13,713,635
Research and development	13,016,183	16,679,712	19,710,673
Patent expenses	789,489	909,946	909,376
Lease termination	0	1,225,421	0
Interest on PharmAthene liability	0	0	11,668,900
Total operating expenses	121,954,384	31,118,129	46,002,584
Operating income (loss)	355,099,398	(18,849,169)	(31,014,956)
Loss from change in fair value of warrant liability	(6,922,624)	(4,738,753)	(894,785)
Interest expense	(15,478,203)	(14,758,140)	(2,395,517)
Backstop fee	0	0	(1,764,240)
Other income, net	78,940,985	16,788	102,324
Reorganization items, net	0	0	(3,716,902)
Income (loss) before income taxes	411,639,556	(38,329,274)	(39,684,076)
Benefit/(provision) for income taxes	10,168,272	2,093,790	(13,884)
Net and comprehensive income (loss)	$ 421,807,828	$ (36,235,484)	$ (39,697,960)
Basic earnings (loss) per share	$ 0	$ (0.46)	$ (0.69)
Diluted earnings (loss) per share	$ 0	$ (0.46)	$ (0.69)
Weighted average shares outstanding: basic	79,923,295	78,874,494	57,188,503
Weighted average shares outstanding: diluted	82,708,472	78,874,494	57,188,503
Product sales and supportive services
Revenues
Total revenues	$ 468,918,468	$ 0	$ 0
Research and development
Revenues
Total revenues	$ 8,135,314	$ 12,268,960	$ 14,987,628

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY/(DEFICIENCY) - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Restricted Stock Units (RSUs)	Restricted Stock Units (RSUs)Common Stock	Restricted Stock Units (RSUs)Additional Paid-in Capital	Stock Options	Stock OptionsCommon Stock	Stock OptionsAdditional Paid-in Capital	RSUs and Stock-Settled Appreciation RightsCommon Stock	RSUs and Stock-Settled Appreciation RightsAdditional Paid-in Capital
Total stockholders' equity (in shares) at Dec. 31, 2015		54,114,296
Total stockholders' equity at Dec. 31, 2015	$ (284,428,550)	$ 5,411	$ 177,008,371	$ (461,442,332)	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(39,697,960)			(39,697,960)
Issuance of common stock upon exercise of stock options and warrants (in shares)							(483,335)
Issuance of common stock upon exercise of stock options and warrants						$ 0	$ 48	$ (48)
Stock-based compensation	775,541		775,541
Payment of common stock tendered for employee stock-based compensation tax obligations (in shares)		(136,744)
Payment of common stock tendered for employee stock-based compensation tax obligations	(428,009)	$ (13)	(427,996)
Issuance of common stock associated with rights offering, shares		23,523,195
Issuance of common stock associated with rights offering, value	34,596,469	$ 2,352	34,594,117
Issuance of common stock associated with backstop agreement, shares		708,530
Issuance of common stock associated with backstop agreement, value	$ 1,764,240	$ 71	1,764,169
Total stockholders' equity (in shares) at Dec. 31, 2016	79,039,000	78,692,612
Total stockholders' equity at Dec. 31, 2016	$ (287,418,269)	$ 7,869	213,714,154	(501,140,292)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(36,235,484)			(36,235,484)
Issuance of common stock upon exercise of stock options and warrants (in shares)										(33,870)		466,328
Issuance of common stock upon exercise of stock options and warrants									$ 89,498	$ 3	$ 89,495	$ 47	$ (47)
Issuance of common stock upon exercise of warrant (in shares)										(760,626)
Issuance of common stock upon exercise of warrants									6,007,847	$ 77	6,007,770
Stock-based compensation	1,101,031		1,101,031
Payment of common stock tendered for employee stock-based compensation tax obligations (in shares)		(153,810)
Payment of common stock tendered for employee stock-based compensation tax obligations	(591,067)	$ (15)	(591,052)
Buy-back of stock options			(84,000)
Total stockholders' equity (in shares) at Dec. 31, 2017		79,039,000
Total stockholders' equity at Dec. 31, 2017	(323,138,291)	$ 7,904	214,229,581	(537,375,776)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	$ 421,807,828
Issuance of common stock upon exercise of stock options and warrants (in shares)										426,366		1,184,283
Issuance of common stock upon exercise of stock options and warrants									$ 261,879	$ 42	$ 261,837	$ 118	$ (118)
Issuance of common stock upon exercise of warrant (in shares)	760,000
Issuance of common stock upon exercise of warrants	$ 6,000,000
Stock-based compensation	2,273,177		2,273,177
Payment of common stock tendered for employee stock-based compensation tax obligations (in shares)		(646,925)
Payment of common stock tendered for employee stock-based compensation tax obligations	$ (4,074,440)	$ (65)	(4,074,375)
Total stockholders' equity (in shares) at Dec. 31, 2018	80,763,350	80,763,350
Total stockholders' equity at Dec. 31, 2018	$ 102,914,687	$ 8,076	$ 218,697,872	(115,791,261)	$ 0
Increase (Decrease) in Stockholders' Equity
Cumulative effect of accounting change	$ (223,313)			$ (223,313)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ 421,807,828	$ (36,235,484)	$ (39,697,960)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and other amortization	69,630	132,189	174,275
Loss on change in fair value of warrant liability	6,922,624	4,738,753	894,785
Lease termination	0	1,225,421	0
Stock-based compensation	2,273,177	1,101,031	775,541
Net realization of deferred revenue and costs due to FDA approval	(281,950,853)	0	0
Deferred income taxes (benefit)/provision	(9,301,422)	(2,718,029)	20,423
Write down of inventory, net	0	536,000	0
Non-cash backstop fee	0	0	1,764,240
Non-cash interest expense	4,497,273	4,497,271	566,779
Gain on sale of priority review voucher	(78,338,826)	0	0
Changes in assets and liabilities:
Accounts receivable	(49,723)	1,352,263	522,360
Inventory	39	22,690,715	(13,762,876)
Deferred costs	0	(23,943,057)	(19,712,849)
Prepaid expenses and other current assets	(2,222,616)	(1,065,573)	(330,443)
Other assets	(356,713)	(60,084)	80,928
Accounts payable, accrued expenses and other current liabilities	1,622,331	(1,847,427)	(177,342)
Liabilities subject to compromise	0	0	(160,072,170)
Deferred revenue	3,475,714	11,412,898	112,225,534
Other liabilities	422,860	(203,654)	(84,228)
Net cash provided by (used in) operating activities	68,871,323	(18,386,767)	(116,813,003)
Cash flows from investing activities:
Capital expenditures	(102,264)	(100,124)	(23,927)
Net proceeds from sale of priority review voucher	78,338,826	0	0
Return of collateral for surety bond	0	0	1,212,591
Net cash provided by (used in) investing activities	78,236,562	(100,124)	1,188,664
Cash flows from financing activities:
Net proceeds from exercise of stock options	261,879	89,498	0
Net proceeds from equity rights offering - net of offering costs	0	0	34,596,468
Proceeds from Term Loan escrow release	0	0	28,694,444
Buy back of stock options	0	(84,000)	0
Payment of employee tax obligations for common stock tendered	(4,074,440)	(591,067)	(428,009)
Debt issue costs	0	0	(3,775,546)
Net cash (used in) provided by financing activities	(3,812,561)	(585,569)	59,087,357
Net increase (decrease) in cash and cash equivalents	143,295,324	(19,072,460)	(56,536,982)
Cash, cash equivalents and restricted cash at the beginning of period	37,101,586	56,174,046	112,711,028
Cash, cash equivalents and restricted cash at end of period	180,396,910	37,101,586	56,174,046
Supplemental disclosure of cash inflows information:
Conversion of warrants to common stock	6,007,847	0	0
Issuance of common stock upon cashless exercise	1,681,426	0	0
Portion of Term Loan paid directly to PharmAthene by the Lender in satisfaction of the PharmAthene claim; such liability is part of the Liabilities Subject to Compromise line item	0	0	46,900,000
Cash interest paid on PharmAthene liability	0	0	11,668,900
Cash income taxes paid (refund)	251,961	325,000	500,975
Fair value of warrant, at issuance date, in connection with loan agreement and recorded as warrant liability	$ 0	$ 0	$ 5,832,624

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Description of Business SIGA Technologies, Inc. (“SIGA” or the “Company”) is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market), vaccines and therapies for emerging infectious diseases, and health preparedness. Our lead product is TPOXX®, an orally administered antiviral drug for the treatment of human smallpox disease caused by variola virus. On July 13, 2018, the United States Food & Drug Administration (“FDA”) approved the Company’s orally-administered drug TPOXX® (“oral TPOXX®”). Liquidity The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. On July 13, 2018, the FDA approved the Company’s oral TPOXX® for the treatment of smallpox. There was no difference between the approved product and courses of oral TPOXX® that had been delivered to the U.S. Strategic National Stockpile (“Strategic Stockpile”). As such, in July 2018, the Company received $41 million that previously had been held back under the 2011 U.S. Biomedical Advanced Research and Development Authority (“BARDA”) Contract (see Note 3). Additionally, since July 2018, the Company has received: a $50 million payment from BARDA in August 2018 as a result of the exercise of an option (through modification of the 2011 BARDA Contract (defined in Note 3)) relating to FDA approval of 84-month expiry for oral TPOXX®; and $80 million of cash proceeds from the sale of its PRV (defined below). Furthermore, the 2018 BARDA Contract (defined in Note 3), awarded in September 2018, could provide payments of up to $600 million to the Company over the next series of years. Accordingly, management believes, based on currently forecasted operating costs that the Company will continue as a going concern. Priority Review Voucher Concurrent with the approval of oral TPOXX®, the FDA granted the Company's request for a Priority Review Voucher (“PRV”). A PRV is a voucher that may be used to obtain an accelerated FDA review of a product candidate. On October 31, 2018 the Company sold its PRV for cash consideration of $80 million .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the periods reported. The most significant estimates include the variables used in the calculation of fair value of warrants granted or issued by the Company, reported amounts of revenue, and the valuation of deferred tax assets. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the financial statements in the period they are determined to be necessary. Actual results could differ from these estimates. Basis of Presentation The consolidated financial statements and related disclosures are presented in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) and reflect the consolidated financial position, results of operations and cash flows for all periods presented. Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Restricted Cash and Cash Equivalents On January 1, 2018, the Company adopted ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, a consensus of the FASB’s Emerging Issues Task Force . The new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities are required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. Adoption of this guidance impacts the cash flow disclosure for the years ended December 31, 2017 and 2016; cash flows from operating activities, as disclosed herein, are $10.2 million and $1.2 million , respectively, less than the amounts disclosed in the 2017 Form 10-K. In addition, cash flows from financing activities for the year ended December 31, 2016, as disclosed herein, are $28.7 million more than the amount disclosed in the 2017 Form 10-K. A portion of the Company’s cash received from the Loan Agreement and net cash proceeds from the PRV sale are restricted and have been placed in reserve accounts. Cash originally received from the Loan Agreement, and placed in a reserve account, could only be used to pay interest on the Term Loan, aside from $5 million that was withdrawn from the reserve account on July 12, 2018 under the provisions of the Term Loan. Cash received from the PRV sale is available to pay interest, fees and principal of the Term Loan. See Note 7 for additional information. The following table reconciles cash, cash equivalents and restricted cash per the consolidated statements of cash flows to the consolidated balance sheet for each respective period: As of December 31, 2018 2017 2016 2015 Cash and cash equivalents $ 100,652,809 $ 19,857,833 $ 28,701,824 $ 112,711,028 Restricted cash - short-term 11,452,078 10,701,305 10,138,890 — Restricted cash - long-term 68,292,023 6,542,448 17,333,332 — Cash, cash equivalents and restricted cash $ 180,396,910 $ 37,101,586 $ 56,174,046 $ 112,711,028 Concentration of Credit Risk The Company has cash in bank accounts that exceeds the Federal Deposit Insurance Corporation insured limits. The Company has not experienced any losses on its cash accounts and no allowance has been provided for potential credit losses because management believes that any such losses would be minimal, if any. Accounts Receivable Accounts receivable are recorded net of provisions for doubtful accounts. At December 31, 2018 and 2017 , 100% of accounts receivable represented receivables from BARDA. An allowance for doubtful accounts is based on specific analysis of the receivables. At December 31, 2018 and 2017 , the Company had no allowance for doubtful accounts. Inventory Inventory is stated at the lower of cost or net realizable value. The Company capitalizes inventory costs associated with the Company’s products when, based on management’s judgment, future commercialization is considered probable and the future economic benefit is expected to be realized; otherwise, such costs are expensed as research and development. Inventory is evaluated for impairment periodically to identify inventory that may expire prior to expected sale or has a cost basis in excess of its net realizable value. If certain batches or units of product no longer meet quality specifications or become obsolete due to expiration, the Company records a charge to write down such unmarketable inventory to its net realizable value. As of December 31, 2018 , inventory is expected to have a shelf life in excess of five years and is expected to be available for delivery under any new or existing procurement contracts. Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided on a straight-line method over the estimated useful lives of the various asset classes. The estimated useful lives are as follows: five years for laboratory equipment; three years for computer equipment; and seven years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the lease term. Maintenance, repairs and minor replacements are charged to expense as incurred. Warrant Liability The Company accounts for warrants in accordance with the authoritative guidance which requires that free-standing derivative financial instruments with certain cash settlement features be classified as assets or liabilities at the time of the transaction, and recorded at their fair value. Fair value is estimated using model-derived valuations. Any changes in the fair value of the derivative instruments are reported in earnings or loss as long as the derivative contracts are classified as assets or liabilities. Revenue Recognition All of the Company’s revenue is derived from long-term contracts that span multiple years. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Adoption of ASC 606 . On January 1, 2018, the Company adopted ASC 606 using the modified retrospective method applied to those contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historical accounting under ASC 605, Revenue Recognition . The cumulative impact of adopting ASC 606 as of January 1, 2018 was a decrease to deferred revenue of approximately $1.8 million ; a decrease to deferred costs of approximately $2.1 million ; an increase to receivables of approximately $0.1 million and a net increase to opening accumulated deficit of $0.2 million , net of tax. For the year ended December 31, 2018, the impact to revenues as a result of applying ASC 606 was an increase of approximately $ 1.0 million . Performance Obligations . A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. As of December 31, 2018, the Company's active performance obligations, for the contracts outlined in Note 3 , consist of the following: three performance obligations relate to research and development services; two relate to manufacture and delivery of product; and one is associated with storage of product. Contract modifications may occur during the course of performance of our contracts. Contracts are often modified to account for changes in contract specifications or requirements. In most instances, contract modifications are for services that are not distinct, and, therefore, are accounted for as part of the existing contract. The Company’s performance obligations are satisfied over time as work progresses or at a point in time. Substantially all of the Company’s revenue related to research and development performance obligations is recognized over time, because control transfers continuously to our customers. Typically, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying the Company’s performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, overhead, and third-party services. Revenue connected with the performance obligation to deliver courses of oral TPOXX® to the Strategic Stockpile, which includes related services, milestones and advance payments under the 2011 BARDA Contract, has been recognized at a point in time. Revenue associated with this performance obligation was recognized when BARDA obtained control of the asset, which was upon delivery to and acceptance by the customer and at the point in time when the constraint on the consideration was resolved. The consideration, which is variable consideration, was constrained until the FDA approved oral TPOXX® for the treatment of smallpox on July 13, 2018. Prior to FDA approval, consideration had been constrained because the FDA Approval Replacement Obligation (as defined in Note 3) had not been quantified or specified. Following FDA approval, the possibility of having to replace product pursuant to the FDA Approval Replacement Obligation was essentially eliminated and deemed to be remote since there was no difference between the approved product and the courses of oral TPOXX® that had been delivered to the Strategic Stockpile. Contract Estimates . Accounting for long-term contracts and grants involves the use of various techniques to estimate total contract revenue and costs. Contract estimates are based on various assumptions to project the outcome of future events that often span multiple years. These assumptions include labor productivity; the complexity of the work to be performed; external factors such as customer behavior and potential regulatory outcomes; and the performance of subcontractors, among other variables. The nature of the work required to be performed on many of the Company’s performance obligations and the estimation of total revenue and cost at completion are complex, subject to many variables and require significant judgment. The consideration associated with research and development services is variable as the total amount of services to be performed has not been finalized. The Company estimates variable consideration as the most likely amount to which it expects to be entitled. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur and when any uncertainty associated with variable consideration is resolved. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our historical and anticipated performance, external factors, trends and all other information (historical, current and forecasted) that is reasonably available to us. A significant change in one or more of these estimates could affect the profitability of the Company’s contracts. As such, the Company reviews and updates its contract-related estimates regularly. The Company recognizes adjustments in estimated revenues, research and development expenses and cost of sales and supportive services under the cumulative catch-up method. Under this method, the impact of the adjustment on revenues, research and development expenses and cost of sales and supportive services recorded to date on a contract is recognized in the period the adjustment is identified. Contract Balances . The timing of revenue recognition, billings and cash collections may result in billed accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) in the consolidated balance sheets. Generally, amounts are billed as work progresses in accordance with agreed-upon contractual terms either at periodic intervals (monthly) or upon achievement of contractual milestones. Under typical payment terms of fixed price arrangements, the customer pays the Company either performance-based payments or progress payments. For the Company’s cost-type arrangements, the customer generally pays the Company for its actual costs incurred, as well as its allocated overhead and G&A costs. Such payments occur within a short period of time. Remaining Performance Obligations . Remaining performance obligations represent the transaction price for which work has not been performed and excludes unexercised contract options. As of December 31, 2018 the aggregate amount of transaction price allocated to remaining performance obligations for the 2011 BARDA Contract, 2018 BARDA Contract and the IV Formulation R&D Contract was $58.1 million . The Company expects to recognize this amount as revenue over the next five years as the specific timing for satisfying the performance obligations is subjective and outside the Company’s control. Deferred Revenue When the Company receives consideration, or such consideration is unconditionally due, prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. The Company recognizes deferred revenue as net revenues once control of goods and/or services has been transferred to the customer and all revenue recognition criteria have been met and any constraints have been resolved. Historically, the Company deferred revenue in connection with the manufacture and delivery of oral TPOXX® under the 2011 BARDA Contract. Revenue recognition as of December 31, 2017 was constrained by the unquantifiable possibility of product replacement pursuant to the FDA Approval Replacement Obligation. On July 13, 2018, the FDA approved oral TPOXX® for the treatment of smallpox. As a result of FDA approval, the possibility of having to replace product pursuant to the FDA Approval Replacement Obligation was essentially eliminated and deemed to be remote since there was no difference between the approved product and the courses of oral TPOXX® that had already been delivered to the Strategic Stockpile. As such, deferred revenue as of December 31, 2017 associated with the 2011 BARDA Contract was recorded as product sales and supportive services during the year ended December 31, 2018. The following table presents changes in the Company's deferred revenue: For the year ended December 31, 2018 Balance at December 31, 2017 $ 378,896,803 Cumulative effect of accounting change (1,780,050 ) Billings in advance of revenue recognized 3,399,630 Revenue recognized (376,356,437 ) Balance at December 31, 2018, included in Accrued expenses and other current liabilities $ 4,159,946 As of December 31, 2017 approximately $1.3 million of deferred revenue was included in accrued expenses and other current liabilities on the consolidated balance sheet. Billings in advance of revenue recognized include $3.2 million for the manufacture of IV BDS (see Note 3 ). Research and Development Research and development expenses include costs directly and indirectly attributable to the conduct of research and development programs, and performance pursuant to the BARDA contracts, including employee related costs, materials, supplies, depreciation on and maintenance of research equipment, the cost of services provided by outside contractors, including services related to the Company’s clinical trials and facility costs, such as rent, utilities, and general support services. All costs associated with research and development are expensed as incurred. Costs related to the acquisition of technology rights, for which development work is still in process, and that have no alternative future uses, are expensed as incurred. Goodwill The Company evaluates goodwill for impairment at least annually or as circumstances warrant. The impairment review process compares the fair value of the reporting unit in which goodwill resides to its carrying value. The Company operates as one business and one reporting unit. Therefore, the goodwill impairment analysis is performed on the basis of the Company as a whole, using the market capitalization of the Company as an estimate of its fair value. Share-based Compensation Stock-based compensation expense for all share-based payment awards made to employees and directors is determined on the grant date; for options awards, fair value was estimated using the Black-Scholes model and for stock-settled stock appreciation rights (“SSARs”), fair value was estimated using the Monte Carlo method. These compensation costs are recognized net of an estimated forfeiture rate over the requisite service periods of the awards. Forfeitures are estimated on the date of the respective grant and revised if actual or expected forfeiture activity differs from original estimates. Income Taxes The Company recognizes income taxes utilizing the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities at enacted tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is established if it is more likely than not that some or the entire deferred tax asset will not be realized. The recognition of a valuation allowance for deferred taxes requires management to make estimates and judgments about the Company’s future profitability which are inherently uncertain. Earnings (Loss) per Share Basic earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, assuming potentially dilutive common shares from option exercises, SSARs, RSUs, warrants and other incentives had been issued and any proceeds received in respect thereof were used to repurchase common stock at the average market price during the period. The assumed proceeds used to repurchase common stock is the sum of the amount to be paid to the Company upon exercise of options and the amount of compensation cost attributed to future services not yet recognized. Fair Value of Financial Instruments The carrying value of cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and other current liabilities approximates fair value due to the relatively short maturity of these instruments. Common stock warrants which are classified as liabilities are recorded at their fair market value as of each reporting period. The measurement of fair value requires the use of techniques based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The inputs create the following fair value hierarchy: • 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. The Company uses model-derived valuations where certain inputs are unobservable to third parties to determine the fair value of common stock warrants on a recurring basis and classify such liability-classified warrants in Level 3. As described in Note 8 , the fair value of the liability-classified warrant was $12.4 million at December 31, 2018 . At December 31, 2018 , the fair value of the debt was $91.1 million and the carrying value of the debt was $75.5 million . The Company used a discounted cash flow model to estimate the fair value of the debt by applying a discount rate to future payments expected to be made as set forth in the Loan Agreement. The fair value of the loan was measured using Level 3 inputs. The discount rate was determined using market participant assumptions. There were no transfers between levels of the fair value hierarchy during 2018. In addition, there were no Level 1 or Level 2 financial instruments as of December 31, 2018 and 2017 . The following table presents changes in the liability-classified warrant measured at fair value using Level 3 inputs: Fair Value Measurements of Level 3 liability classified warrant Warrant liability at December 31, 2017 $ 11,466,162 Increase in fair value of warrant liability 6,922,624 Exercise of warrants (6,007,847 ) Warrant liability at December 31, 2018 $ 12,380,939 Loss Contingencies The Company is subject to certain contingencies arising in the ordinary course of business. The Company records accruals for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. The Company expenses legal costs associated with loss contingencies as incurred. We record anticipated recoveries under existing insurance contracts when recovery is assured. Segment Information The Company is managed and operated as one business. The entire business is managed by a single management team that reports to the chief executive officer, who is the Chief Operating Decision Maker. The Company does not operate separate lines of business or separate business entities with respect to any of its product candidates. Accordingly, the Company does not prepare discrete financial information with respect to separate product areas or by location and has only one reportable segment. Recent Accounting Pronouncements On January 26, 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350) : Simplifying the Test for Goodwill Impairment . The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. The revised guidance will be applied prospectively, and is effective for fiscal years beginning after December 15, 2019. The Company believes the adoption of ASU No. 2017-04 will not have a significant impact on its consolidated financial statements. On February 25, 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which relates to the accounting for leasing transactions. This standard requires a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by leases with lease terms of more than 12 months. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. The Company has elected to adopt the standard using the modified retrospective transition approach with a January 1, 2019 effective date of initial application. Under the modified retrospective transition method, the Company will recognize a cumulative effect adjustment to retained earnings as of the effective date in the period of adoption. Consequently, comparative financial information and disclosures provided for dates and periods before January 1, 2019 will not be updated in the Company’s future filings. While the Company is continuing to evaluate the impact that ASU No. 2016-02 will have on its consolidated financial statements, the Company expects that a right-of-use asset and a corresponding amount of lease liability in the range of $3.0 - $4.0 million will be recorded on the consolidated balance sheet.

Procurement Contract and Resear

Procurement Contract and Research Agreements	12 Months Ended
	Dec. 31, 2018
Research and Development [Abstract]
Procurement Contract and Research Agreements	Procurement Contract and Research Agreements 2018 BARDA Contract On September 10, 2018, the Company entered into a contract with BARDA pursuant to which SIGA agreed to deliver up to 1,488,000 courses of oral TPOXX® to the Strategic Stockpile, and to manufacture and deliver to the Strategic Stockpile, or store as vendor-managed inventory, up to 212,000 courses of the intravenous (IV) formulation of TPOXX® ("IV TPOXX®"). Additionally, the contract includes funding from BARDA for advanced development of IV TPOXX®, post-marketing activities for oral and IV TPOXX®, and supportive procurement activities. The contract with BARDA (as amended, modified, or supplemented from time to time, the “2018 BARDA Contract”) currently contemplates, as of February 28, 2019, up to approximately $600.1 million of payments, of which approximately $51.7 million of payments are included within the base period of performance of five years, approximately $12.2 million of payments are related to exercised options and up to approximately $536.2 million of payments are currently specified as unexercised options. BARDA may choose in its sole discretion when, or whether, to exercise any of the unexercised options. The period of performance for options is up to ten years from the date of entry into the 2018 BARDA Contract and such options could be exercised at any time during the contract term, including during the base period of performance. Initially, the 2018 BARDA Contract specified payments of up to approximately $628.7 million ; on February 21, 2019, a cost-reimbursement plus fixed fee option for post-marketing, and other activities for oral TPOXX® was modified to $12.2 million (from $40.8 million ) based on updated planning. As such, total potential payments currently specified under the 2018 BARDA Contract are $600.1 million . The base period of performance specifies potential payments of approximately $51.7 million for the following activities: payments of approximately $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile; payments of $8.0 million for the manufacture of 20,000 courses of final drug product of IV TPOXX® ("IV FDP"), of which $3.2 million of payments are related to the manufacture of bulk drug substance ("IV BDS") to be used in the manufacture of IV FDP; payments of approximately $32.0 million to fund advanced development of IV TPOXX®; and payments of approximately $0.6 million for supportive procurement activities. As of December 31, 2018, the Company has received $3.2 million for the manufacture of IV BDS; such bulk drug substance is expected to be used for the manufacture of 20,000 courses of IV FDP. Exercised options specify potential payments up to approximately $12.2 million for funding of post-marketing activities for oral TPOXX®. Unexercised options specify potential payments up to approximately $536.2 million in total (if all options are exercised). There are options for the following activities: payments of up to $450.2 million for the delivery of up to approximately 1,452,300 courses of oral TPOXX® to the Strategic Stockpile; payments of up to $76.8 million for the manufacture of up to 192,000 courses of IV FDP, of which up to $30.7 million of payments would be paid upon the manufacture of IV BDS to be used in the manufacture of IV FDP; payments of up to approximately $3.6 million to fund post-marketing activities for IV TPOXX®; and payments of up to approximately $5.6 million for supportive procurement activities. The options related to IV TPOXX® are divided into two primary manufacturing steps. There are options related to the manufacture of bulk drug substance (“IV BDS Options”), and there are corresponding options (for the same number of IV courses) for the manufacture of final drug product (“IV FDP Options”). BARDA may choose to exercise any, all, or none of these options in its sole discretion. The 2018 BARDA Contract includes: three separate IV BDS Options, each providing for the bulk drug substance equivalent of 64,000 courses of IV TPOXX®; and three separate IV FDP Options, each providing for 64,000 courses of final drug product of IV TPOXX®. BARDA has the sole discretion as to whether to simultaneously exercise IV BDS Options and IV FDP Options, or whether to make independent exercise decisions. If BARDA decides to only exercise IV BDS Options, then the Company would receive payments up to $30.7 million ; alternatively, if BARDA decides to exercise both IV BDS Options and IV FDP Options, then the Company would receive payments up to $76.8 million . For each set of options relating to a specific group of courses (for instance, the IV BDS and IV FDP options that reference the same 64,000 courses), BARDA has the option to independently purchase IV BDS or IV FDP. 2011 BARDA Contract On May 13, 2011, the Company signed a contract with BARDA pursuant to which BARDA agreed to buy from the Company 1.7 million courses of oral TPOXX®. Additionally, the Company agreed to contribute to BARDA 300,000 courses at no additional cost to BARDA. The contract with BARDA (as amended, modified, or supplemented from time to time the "2011 BARDA Contract") includes a base contract, as modified, ("2011 Base Contract") as well as options. The 2011 Base Contract specifies approximately $508.7 million of payments (including exercised options), of which, as of December 31, 2018, $459.8 million has been received by the Company for the manufacture and delivery of 1.7 million of oral TPOXX® and $43.9 million has been received for certain reimbursements in connection with development and supportive activities. Approximately $5.0 million remains eligible to be received in the future for reimbursements of development and supportive activities. For courses of oral TPOXX® that have been physically delivered to the Strategic Stockpile under the 2011 BARDA Contract, there are product replacement obligations, including: (i) a product replacement obligation in the event that the final version of oral TPOXX® approved by the FDA was different from any courses of oral TPOXX® that had been delivered to the Strategic Stockpile (the “FDA Approval Replacement Obligation”); (ii) a product replacement obligation, at no cost to BARDA, in the event that oral TPOXX® is recalled or deemed to be recalled for any reason; and (iii) a product replacement obligation in the event that oral TPOXX® does not meet any specified label claims. On July 13, 2018, the FDA approved oral TPOXX® for the treatment of smallpox and there is no difference between the approved product and courses in the Strategic Stockpile. As such, the possibility of the FDA Approval Replacement Obligation resulting in any future replacements of product within the Strategic Stockpile is remote. The 2011 BARDA Contract includes options. On July 30, 2018, the 2011 BARDA Contract was modified and BARDA exercised its option relating to FDA approval of the aforementioned 84-month expiry for oral TPOXX® for which the Company was paid $50.0 million in August 2018. With the option exercise, the 2011 BARDA Contract was modified so that the 2011 Base Contract increased by $50.0 million . Remaining options, if all were exercised by BARDA, would result in aggregate payments to the Company of $72.7 million , including up to $58.3 million of funding for development and supportive activities such as work on a post-exposure prophylaxis ("PEP") indication for TPOXX® and/or $14.4 million of funding for production-related activities related to warm-base manufacturing. BARDA may choose, in its sole discretion not to exercise any or all of the unexercised options. In 2015, BARDA exercised two options related to extending the indication of the drug to the geriatric and pediatric populations. The stated value of those exercises was immaterial. The 2011 BARDA Contract expires in September 2020. As described in Note 2, cash inflows related to delivery of courses under the 2011 BARDA Contract had been recorded as deferred revenue prior to FDA approval of oral TPOXX®, which occurred in the third quarter 2018. The deferral was due to a constraint on the consideration received. During the third quarter 2018, the constraint was satisfied with FDA approval of oral TPOXX®. As such, $375.6 million associated with cash consideration received in prior periods under the 2011 BARDA Contract was recognized as revenue for the year ended December 31, 2018. Separately, as discussed above, $90.9 million of revenues were recognized in the third quarter of 2018 in connection with a $40.9 million holdback payment (under the 2011 BARDA Contract) and a $50.0 million payment for achieving 84-month expiry for oral TPOXX® (under the 2011 BARDA Contract). Direct costs incurred by the Company to manufacture and fulfill the delivery of courses had also been deferred. As of December 31, 2017 , deferred direct costs under the 2011 BARDA Contract were approximately $96.5 million . In connection with the FDA approval of oral TPOXX®, all related deferred costs were recognized in the consolidated statement of operations during the third quarter of 2018. Research Agreements and Grants The Company has an R&D program for IV TPOXX®. This program is funded by the 2018 BARDA Contract and a development contract with BARDA ("IV Formulation R&D Contract"). The IV Formulation R&D Contract has a period of performance that terminates on December 30, 2020. As of December 31, 2018 , the IV Formulation R&D Contract provides for future aggregate research and development funding of approximately $15.1 million . Contracts and grants include, among other things, options that may or may not be exercised at the U.S. Government’s discretion. Moreover, contracts and grants contain customary terms and conditions including the U.S. Government’s right to terminate or restructure a contract or grant for convenience at any time. As such, we may not be eligible to receive all available funds.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory Due to the deferral of revenue under the 2011BARDA Contract (see Note 3 for additional information), amounts that would be otherwise recorded as cost of sales and supportive services for delivered courses were recorded as deferred costs on the consolidated balance sheet as of December 31, 2017. In the third quarter of 2018, such deferred costs were recognized in the statement of operations. Inventory includes costs related to the manufacture of TPOXX®. Inventory consisted of the following: As of December 31, 2018 December 31, 2017 Work in-process $ 1,950,445 $ 2,025,445 Finished goods 957,765 957,804 Inventory $ 2,908,210 $ 2,983,249 For the year ended December 31, 2017 , research and development expenses include net inventory-related losses of approximately $536,000 related to a $686,000 inventory write-down, partially offset by credits received from contract manufacturing organizations (“CMO”) in connection with the inventory write-down. No such losses were incurred in 2018.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consisted of the following: As of December 31, 2018 December 31, 2017 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 618,248 701,762 Furniture and fixtures 377,859 363,588 3,416,135 3,485,378 Less-accumulated depreciation (3,244,861 ) (3,346,738 ) Property, plant and equipment, net $ 171,274 $ 138,640 Depreciation and amortization expense on property, plant, and equipment was $69,630 , $132,189 , and $174,275 for the years ended December 31, 2018 , 2017 , and 2016 , respectively. In connection with the lease termination discussed in Note 14 , the Company wrote off $129,000 of leasehold improvements and furniture and fixtures during the year ended December 31, 2017 .

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses and other current liabilities consisted of the following: As of December 31, 2018 December 31, 2017 Bonus $ 2,600,839 $ 2,538,340 Deferred revenue 4,159,946 1,255,318 Research and development vendor costs 1,446,410 183,856 Professional fees 242,043 381,980 Vacation 294,794 328,588 Other 904,885 793,497 Accrued expenses and other current liabilities $ 9,648,917 $ 5,481,579

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt On September 2, 2016, the Company entered into a loan and security agreement (as amended from time to time, the “Loan Agreement”) with OCM Strategic Credit SIGTEC Holdings, LLC (“Lender”), pursuant to which the Company received $80.0 million (less fees and other items) on November 16, 2016 having satisfied certain pre-conditions. Such $80.0 million had been placed in an escrow account on September 30, 2016 (the “Escrow Funding Date”). Prior to the Escrow Release Date (November 16, 2016), the Company did not have access to, or any ownership interest in, the escrow account. Until the Escrow Release Date occurred, the Company did not have an obligation to make any payments under the Loan Agreement, no security was granted under the Loan Agreement and no affirmative or negative covenants or events of default were effective under the Loan Agreement. Amounts were held in the escrow account until the satisfaction of certain conditions including the closing of the Rights Offering (see Note 10 ) on November 16, 2016. As part of the satisfaction of a litigation claim, funds were released from the escrow account (the date on which such transfer occurred, the “Escrow Release Date”). The Loan Agreement provides for a first-priority senior secured term loan facility in the aggregate principal amount of $80.0 million (the “Term Loan”), of which (i) $25.0 million was placed in a reserve account (the “Reserve Account”) only to be utilized to pay interest on the Term Loan as it becomes due; (ii) an additional $5.0 million was also placed in the Reserve Account and up to the full amount of such $5.0 million was eligible to be withdrawn after June 30, 2018 upon the satisfaction of certain conditions, provided that any of such amount is required to fund any interest to the extent any interest in excess of the aforementioned $25.0 million is due and owing and any of such $5.0 million remains in the Reserve Account; and (iii) $50.0 million (net of fees and expenses then due and owing to the Lender) was paid as part of the final payment to satisfy a litigation claim. Interest on the Term Loan is at a per annum rate equal to the Adjusted LIBOR rate plus 11.5% , subject to adjustments as set forth in the Loan Agreement. At December 31, 2018, the effective interest rate on the Term Loan, which includes interest payments and accretion of unamortized costs and fees, was 19.4% . The Company incurred approximately $15.5 million of interest expense during the year-ended December 31, 2018, of which $11.0 million was paid from restricted cash and the remaining $4.5 million accreted to the Term Loan balance. For the year ended December 31, 2017, the Company incurred approximately $14.8 million of interest expense, of which $10.3 million was paid from restricted cash and the remaining $4.5 million accreted to the Term Loan balance. On July 12, 2018, upon confirmation that there had been no events of default, $5 million was withdrawn by the Company from the Reserve Account and was placed in the Company's cash operating account. On October 31, 2018, the Loan Agreement was amended to expand the definition of permitted dispositions to include a sale of the PRV. In connection with the amendment, net cash proceeds from the sale of the PRV ( $78.3 million ) were placed in a restricted cash account; such restricted account is to be used only for interest, fees and principal payments (other than those in connection with an event of default) on the Term Loan. The Term Loan matures on the earliest to occur of (i) the four-year anniversary of the Escrow Release Date, and (ii) the acceleration of certain obligations pursuant to the Loan Agreement. At maturity, $80.0 million of principal will be repaid, and an additional $4.0 million will be paid (see below). Prior to maturity, there are no scheduled principal payments. Through the three and one-half year anniversary of the Escrow Release Date, any prepayment of the Term Loan is subject to a make-whole provision in which interest payments related to the prepaid amount are due (subject to a discount of treasury rate plus 0.50% ). In connection with the Term Loan, the Company has granted the Lender a lien on and security interest in all of the Company’s right, title and interest in substantially all of the Company’s tangible and intangible assets, including all intellectual property. The Loan Agreement contains customary representations and warranties and customary affirmative and negative covenants. These covenants, among other things, require a minimum cash balance throughout the term of the Term Loan and the achievement of regulatory milestones by certain dates, and contain certain limitations on the ability of the Company to incur unreimbursed research and development expenditures over a certain threshold, make capital expenditures over a certain threshold, incur indebtedness, dispose of assets outside of the ordinary course of business, make cash distributions and enter into certain merger or consolidation transactions. The minimum cash requirement was $5.0 million until August 27, 2018 (45 days after FDA approval of oral TPOXX®), at which point the minimum cash requirement became $20.0 million . The Loan Agreement includes customary events of default, including, among others: (i) non-payment of amounts due thereunder, (ii) the material inaccuracy of representations or warranties made thereunder, (iii) non-compliance with covenants thereunder, (iv) non-payment of amounts due under, or the acceleration of, other material indebtedness of the Company and (v) bankruptcy or insolvency events. Upon the occurrence and during the continuance of an event of default under the Loan Agreement, the interest rate may increase by 2.00% per annum above the rate of interest otherwise in effect, and the Lenders would be entitled to accelerate the maturity of the Company’s outstanding obligations thereunder. As of December 31, 2018, the Company is in compliance with the Loan Agreement covenants. In connection with the Loan Agreement, the Company incurred $8.2 million of costs (including interest on amounts held in the escrow account between September 30, 2016 and November 15, 2016). Furthermore, an additional $4.0 million will become payable when principal of the Term Loan is repaid. As part of the Company's entry into the Loan Agreement, the Company issued the Warrant (see Note 9) with a fair market value of $5.8 million . The fair value of the Warrant, as well as costs related to the Term Loan issuance, were recorded as deductions to the Term Loan balance on the Balance Sheet. These amounts are being amortized on a straight-line basis over the life of the related Term Loan. The Company compared the amortization under the effective interest method with the straight-line basis and determined the results were not materially different. The $4.0 million that will be paid when principal is repaid is being accreted to the Term Loan balance. As of December 31, 2018, the Term Loan balance is $75.5 million.

Per Share Data

Per Share Data	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Per Share Data	Per Share Data The Company computes, presents and discloses earnings per share in accordance with the authoritative guidance which specifies the computation, presentation and disclosure requirements for earnings per share of entities with publicly held common stock or potential common stock. The objective of basic EPS is to measure the performance of an entity over the reporting period by dividing income (loss) by the weighted average shares outstanding. The objective of diluted EPS is consistent with that of basic EPS, except that it also gives effect to all potentially dilutive common shares outstanding during the period. The following is a reconciliation of the basic and diluted earnings (loss) per share computation: Year Ended December 31, 2018 2017 2016 Net income (loss) for basic earnings per share $ 421,807,828 $ (36,235,484 ) $ (39,697,960 ) Less: Change in fair value of warrants (6,922,624 ) — — Net income (loss), adjusted for change in fair value of warrants for diluted earnings per share $ 428,730,452 $ (36,235,484 ) $ (39,697,960 ) Weighted-average shares 79,923,295 78,874,494 57,188,503 Effect of potential common shares 2,785,177 — — Weighted-average shares: diluted 82,708,472 78,874,494 57,188,503 Earnings (loss) per share: basic $ 5.28 $ (0.46 ) $ (0.69 ) Earnings (loss) per share: diluted $ 5.18 $ (0.46 ) $ (0.69 ) For the year ended December 31, 2018, the diluted earnings per share calculation reflects the effect of the assumed exercise of outstanding warrants and any corresponding elimination of the impact included in operating results from the change in fair value of the warrants. Weighted-average diluted shares include the dilutive effect of in-the-money options and warrants, unvested restricted stock and unreleased restricted stock units. The dilutive effect of warrants and options is calculated based on the average share price for each fiscal period using the treasury stock method. Under the treasury stock method, the amount the employee or director must pay for exercising stock options, the average amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that would be recorded in additional paid-in capital when the award becomes deductible, are collectively assumed to be used to repurchase shares. The Company incurred losses for the twelve months ended December 31, 2017 and 2016 and as a result, for such years the equity instruments listed below are excluded from the calculation of diluted earnings (loss) per share as the effect of the exercise, conversion or vesting of such instruments would be anti-dilutive. The weighted average number of equity instruments excluded consisted of: Year Ended December 31, 2017 2016 Stock Options 1,386,176 1,789,751 Stock-Settled Stock Appreciation Rights 333,252 360,031 Restricted Stock Units 1,396,730 705,850 Warrants 2,690,950 877,303 As discussed in Note 11 , the appreciation of each stock-settled stock appreciation right was capped at a determined maximum value. As a result, the weighted average number shown in the table above for stock-settled stock appreciation rights reflects the weighted average maximum number of shares that could be issued.

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Financial Instruments	Financial Instruments 2016 Warrant On September 2, 2016, in connection with the entry into the Loan Agreement (see Note 7 for additional information), the Company issued a warrant (the “ Warrant ” ) to the Lender to purchase a number of shares of the Company’s common stock equal to $4.0 million divided by the lower of (i) $2.29 per share and (ii) the subscription price paid in connection with the Rights Offering (as defined in Note 10 ). The subscription price paid was $1.50 in connection with the Rights Offering; accordingly, the exercise price of the Warrant was set at $1.50 per share, and there were 2.7 million shares underlying the Warrant. Subsequent to partial exercises of the Warrant in 2018, there are approximately 1.75 million shares underlying the Warrant as of December 31, 2018. The Warrant provides for weighted average anti-dilution protection and is exercisable in whole or in part for ten ( 10 ) years from the date of issuance. The Company accounted for the Warrant in accordance with the authoritative guidance which requires that free-standing derivative financial instruments with certain anti-dilution and cash settlement features be classified as assets or liabilities at the time of the transaction, and recorded at their fair value. Any changes in the fair value of the derivative instruments are reported in earnings or loss as long as the derivative contracts are classified as assets or liabilities. Accordingly, the Company classified the Warrant as a liability and reports its change in fair value in the consolidated statement of operations. On September 2, 2016, the issuance date of the Warrant, the fair value of the liability-classified Warrant was $5.8 million . The Company applied a Monte Carlo Simulation-model to calculate the fair value of the Warrant using the following assumptions: risk free interest rate of 1.60% ; no dividend yield; an expected life of 10 years; and a volatility factor of 80% . The Company compared the Monte Carlo simulation model calculation to a Black-Scholes model calculation as of December 31, 2016. These models generated substantially equivalent fair values for the Warrant. As such, the Company utilized a Black-Scholes model for December 31, 2018 and 2017 to determine the fair value of the Warrant. As of December 31, 2018 , the fair value of the Warrant was $12.4 million . A Black Scholes model was applied to calculate the fair value of the Warrant using the following assumptions: risk free interest rate of 2.6% ; no dividend yield; an expected life of 7.7 years; and a volatility factor of 70% . As of December 31, 2017 , the fair value of the Warrant was $11.5 million . A Black Scholes model was applied to calculate the fair value of the Warrant using the following assumptions: risk free interest rate of 2.38% ; no dividend yield; an expected life of 8.67 years; and a volatility factor of 75% . For the years ended December 31, 2018 , 2017 , and 2016 the Company recorded a loss of $6.9 million , $4.7 million , and $0.9 million , respectively as a result of increases in fair value of the liability-classified Warrant. During the year ended December 31, 2018 approximately $6.0 million of warrants were exercised resulting in the net issuance of approximately 760,000 shares of common stock. As of December 31, 2018 there are approximately 1.75 million shares underlying the outstanding Warrants. At December 31, 2018 , pursuant to the Warrant agreement, there were no conditions under which current assets would have been required to satisfy the Warrant obligation.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity On December 31, 2018 , the Company’s authorized share capital consisted of 620,000,000 shares, of which 600,000,000 are designated common shares and 20,000,000 are designated preferred shares. The Company’s Board of Directors is authorized to issue preferred shares in series with rights, privileges and qualifications of each series determined by the Board. As of December 31, 2018 and 2017 , no preferred shares were outstanding or issued. Rights Offering On November 16, 2016, the Company completed a rights offering (the “Rights Offering”), pursuant to which it raised approximately $35.3 million in gross proceeds through the sale of 23,523,195 shares of its common stock. The Rights Offering was made pursuant to a registration statement on Form S-1 and declared effective by the SEC on October 21, 2016. As part of the Rights Offering, each stockholder of the Company received a subscription right for each share of common stock owned as of the record date of October 12, 2016. Each subscription right entitled its holder to invest $0.65 towards the purchase of shares of the Company's common stock at a subscription price equal to the lower of $1.50 or 85% of the volume weighted average price of Company shares during market hours on the expiration date of the Rights Offering. The Rights Offering expired on November 8, 2016. Through basic subscriptions and oversubscriptions, the Rights Offering was fully subscribed. The subscription price was set at $1.50 . The Company used the net proceeds of the Rights Offering, together with proceeds from the Term Loan and cash on hand, to fully satisfy PharmAthene's claim related to litigation (see Note 13). Rights Offering-Backstop Agreement On October 13, 2016, in connection with the Rights Offering as discussed above, the Company entered into an investment agreement or “backstop agreement”, with an affiliate of MacAndrews & Forbes Incorporated (“M&F”) (see Note 14 ), and certain other backstop parties (the “Backstop Parties”). Under the terms of the backstop agreement, the Backstop Parties agreed to purchase, pursuant to a separate private placement, a number of shares of common stock equal to the numbers of shares that were not subscribed for in the Rights Offering. Because the Rights Offering was fully subscribed, the Backstop Parties were not required to draw on such commitment. The Company issued 708,530 shares to Backstop Parties, of which approximately 565,000 shares were received by M&F, in payment of the five percent backstop fee ( $1,764,240 ) payable to the Backstop Parties in connection with the backstop agreement. The fair value of the shares issued in satisfaction of the backstop fee was expensed in the income statement in the fourth quarter of 2016. There are no remaining payment obligations to the Backstop Parties under the backstop agreement.

Stock Compensation Plans

Stock Compensation Plans	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Compensation Plans	Stock Compensation Plans The Company’s 2010 Stock Incentive Plan (the “2010 Plan”) was initially adopted in May 2010. The 2010 Plan provided for the issuance of stock options, restricted stock and unrestricted stock with respect to an aggregate of 2,000,000 shares of the Company’s common stock to employees, consultants and outside directors of the Company. On May 17, 2011, the 2010 Plan was amended to provide for the issuance of restricted stock units (“RSUs”) and on February 2, 2012, the 2010 Plan was amended to provide for the issuance of SSARs. Effective April 25, 2012 and May 23, 2017, the 2010 Plan was amended to increase the maximum number of shares of common stock available for issuance to an aggregate of 4,500,000 shares and 8,500,000 shares, respectively. The vesting period for awards granted under the 2010 Plan, is determined by the Compensation Committee of the Board of Directors. The Compensation Committee also determines the expiration date of each equity award, however, stock options and SSARs may not be exercisable more than ten years after the date of grant as the maximum term of equity awards issued under the 2010 Plan is ten years. For the years ended December 31, 2018 , 2017 and 2016 , the Company recorded stock-based compensation expense, including stock options, SSARs, RSUs and certain warrant amortization, of approximately $2.3 million , $1.1 million and $0.8 million , respectively. Stock Options Stock option awards provide holders the right to purchase shares of Common Stock at prices determined by the Compensation Committee and must have an exercise price equal to or in excess of the fair market value of the Company’s common stock at the date of grant. The fair value of options granted is estimated at the date of grant. Expected volatility has been estimated using a combination of the historical volatility of the Company's common stock and the historical volatility of a group of comparable companies’ common stock, both using historical periods equivalent to the options’ expected lives. The expected dividend yield assumption is based on the Company’s intent not to issue a dividend in the foreseeable future. The risk-free interest rate assumption is based upon observed interest rates for securities with maturities approximating the options’ expected lives. The expected life was estimated based on historical experience and expectation of employee exercise behavior in the future giving consideration to the contractual terms of the award. A summary of the Company’s stock option activity is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2018 1,062,467 $ 5.42 Granted — — Exercised (635,067 ) 3.06 Canceled/Expired (25,000 ) 7.13 Outstanding at December 31, 2018 402,400 $ 9.03 2.04 $ 421,250 Vested at December 31, 2018 402,400 $ 9.03 2.04 $ 421,050 Exercisable at December 31, 2018 402,400 $ 9.03 2.04 $ 421,050 As of December 31, 2018 , there is no remaining unrecognized stock-based compensation cost related to stock options expected to be recognized. The total fair value of stock options which vested during the year ended December 31, 2017 was approximately $73,000 . For the years ended December 31, 2018 and 2016 there were no stock options that vested. The total intrinsic value of stock options exercised was approximately $2,900,000 , $65,000 and $0 for the years ended December 31, 2018 , 2017 and 2016 , respectively. The intrinsic value represents the amount by which the market price of the underlying stock exceeds the exercise price of an option. As of December 31, 2017 , 100,000 of the Company’s outstanding options were subject to specific performance conditions consisting of regulatory approval of our lead drug candidate. The performance conditions were met in 2018. Stock Appreciation Rights SSARs provide holders the right to purchase shares of Common Stock at prices determined by the Compensation Committee and must have an exercise price equal to or in excess of the fair market value of the Company’s common stock at the date of grant. Upon exercise, the gain, or intrinsic value, is settled by the delivery of SIGA stock to the employee. There were no SSARs granted during the years ended December 31, 2018 or 2017 . During the year ended December 31, 2012, the Company granted 1.4 million shares of SSARs at a weighted average grant-date fair value of $0.68 per share. The exercise price of a SSAR is equal to the closing market price on the date of grant. The granted SSARs vested in equal annual installments over a period of three years and expire no later than seven years from the date of grant. Moreover, the appreciation of each SSAR was capped at a determined maximum value. At December 31, 2018 and 2017 , due to the cap on value, the maximum number of shares that could be issued in the future was 23,157 and 162,393 , respectively. The fair value of granted SSARs was estimated utilizing a Monte Carlo method. The Monte Carlo method is a statistical simulation technique used to provide the grant-date fair value of an award. As the issued SSARs were capped at maximum values, such attribute was considered in the simulation. The Company calculated the expected volatility using a combination of historical volatility of SIGA's common stock and the volatility of a group of comparable companies' common stock. The expected life from grant date was estimated based on the expectation of exercise behavior in consideration of the maximum value and contractual term of the SSARs. The dividend yield assumption was based on the Company’s intent not to issue a dividend in the foreseeable future. The risk-free interest rate assumption was based upon observed interest rates appropriate for the expected life of the SSARs. A summary of the Company’s SSAR activity is as follows: Number of SSARs Weighted Average Exercise Price Weighted Average Remaining Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2018 266,150 $ 3.53 Granted — — Exercised (232,050 ) 3.53 Canceled/Expired — — Outstanding at December 31, 2018 34,100 3.53 0.09 149,017 Vested at December 31, 2018 34,100 $ 3.53 0.09 $ 149,017 Exercisable at December 31, 2018 34,100 $ 3.53 0.09 $ 149,017 The total intrinsic value of SSARs exercised was approximately $0.7 million and $0.9 million and for the years ended December 31, 2018 and 2017 , respectively. For the years ended December 31, 2016 there were no SSARs exercised. Restricted Stock Awards/Restricted Stock Units RSUs awarded to employees vest in equal annual installments over a three-year period and RSUs awarded to directors of the Company vest over a one-year period. A summary of the Company’s RSU activity is as follows: Number of RSUs Weighted Average Grant-Date Fair Value Outstanding at January 1, 2018 1,472,000 $ 2.61 Granted 105,000 6.53 Vested and released (1,077,884 ) 2.69 Canceled/Expired — — Outstanding at December 31, 2018 499,116 $ 3.26 As of December 31, 2018 , $1.1 million of total remaining unrecognized stock-based compensation cost related to RSUs is expected to be recognized over the weighted-average remaining requisite service period of 0.79 years. The weighted average fair value at the date of grant for restricted stock awards granted during the years ended December 31, 2018 , 2017 and 2016 was $6.53 , $3.51 and $2.24 per share, respectively. Based on the grant date, the total fair value of restricted stock and restricted stock units vested and released during the years ended December 31, 2018 , 2017 and 2016 was approximately $2.9 million , $0.6 million and $1.4 million , respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the U.S. government enacted comprehensive tax reform referred to as the Tax Cuts and Jobs Act (“TCJA”). Under FASB Accounting Standards Codification Topic 740, Income Taxes (“ASC 740”), the effects of changes in tax rates and laws are recognized in the period in which the new legislation is enacted. The TCJA makes broad and complex changes to the U.S. tax code, including, but not limited to: (1) reducing the U.S. federal corporate tax rate from 35% to 21% ; (2) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2018 ; (3) bonus depreciation that will allow for full expensing of qualified property; (4) creating a new limitation on deductible interest expense; (5) eliminating the corporate alternative minimum tax ("AMT"); (6) limitation on the deductibility of executive compensation under Internal Revenue Code §162(m); and (7) new tax rules related to foreign operations. In response to the TCJA, the SEC staff issued Staff Accounting Bulletin (“SAB”) No. 118, which provides guidance on accounting for the tax effects of the TCJA. The purpose of SAB No. 118 was to address any uncertainty or diversity of view in applying ASC 740 in the reporting period in which the TCJA was enacted. In addition, SAB No. 118 provides a measurement period that should not extend beyond one year from the TCJA enactment date for companies to complete the accounting under ASC 740. For the year ended December 31, 2017, the Company recorded a provisional decrease in its deferred tax asset and liabilities with a corresponding adjustment to the related valuation allowance. In addition, the Company recorded an income tax benefit of $2.7 million related to the elimination of the AMT as such amounts will be refundable, in cash, under the TCJA. The Company expects to collect the refund no later than 2021. During the year ended December 31, 2018 , the Company finalized the accounting for the tax effects of the TCJA with no material changes to the provisional estimate recorded in 2017. The Company's (benefit) provision for income taxes comprises the following: For the year ended December 31, 2018 2017 2016 Current: Federal $ (1,326,022 ) $ 623,060 $ (5,093 ) State and local 459,172 1,179 (1,446 ) Total current provision (benefit) (866,850 ) 624,239 (6,539 ) Deferred: Federal (9,256,661 ) (2,724,371 ) 21,252 State and local (44,761 ) 6,342 (829 ) Total deferred (benefit) provision (9,301,422 ) (2,718,029 ) 20,423 Total (benefit) provision $ (10,168,272 ) $ (2,093,790 ) $ 13,884 The Company’s deferred tax assets and liabilities comprise the following: As of December 31, 2018 2017 Deferred income tax assets: Net operating losses 9,798,319 $ 38,087,782 Deferred research and development costs 60,535 205,527 Amortization of intangible assets 171,044 282,213 Share-based compensation 508,089 1,001,662 Fixed assets 371,804 417,085 Deferred revenue — 84,130,212 Alternative minimum tax credits 1,326,228 2,652,250 Other 1,028,083 1,024,082 Deferred income tax assets 13,264,102 127,800,813 Less: valuation allowance (1,051,307 ) (102,556,657 ) Deferred income tax assets, net of valuation allowance $ 12,212,795 $ 25,244,156 Deferred income tax liabilities: Amortization of goodwill (192,146 ) (193,458 ) Capitalized contract costs — (21,518,646 ) Other (287,264 ) (1,100,089 ) Deferred income tax asset (liability), net $ 11,733,385 $ 2,431,963 The recognition of a valuation allowance for deferred taxes requires management to make estimates and judgments about the Company’s future profitability which is inherently uncertain. The Company assesses all available positive and negative evidence to determine if its existing deferred tax assets are realizable on a more-likely-than-not basis. In making such assessment, the Company considered the reversal of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operating results. The ultimate realization of a deferred tax asset is ultimately dependent on the Company's generation of sufficient taxable income within the available net operating loss carryback and/or carryforward periods to utilize the deductible temporary differences. During the year ended December 31, 2018 , the Company received FDA approval and recorded revenue related to the delivery of our oral TPOXX® product. The Company also received payments for the FDA holdback, the expiry option under the 2011 Base Contract, and for the sale of its PRV. In addition, the Company entered into a new contract with BARDA for the sale of up to 1.7 million courses of (oral and IV) TPOXX®. Based on these factors, management determined that sufficient positive evidence exists to conclude that substantially all of our deferred tax assets are realizable on a more-likely-than-not basis and reversed our valuation allowance. During 2018, the valuation allowance decreased by $101.5 million which relates to the reversal of substantially all of the Company's valuation allowance against its deferred tax assets with the exception of those related to certain state net operating losses. As of December 31, 2018 , the Company had $40.3 million of federal net operating loss carryforwards, which expire in 2036, to offset future taxable income. The Company’s effective tax rate differs from the U.S. federal statutory income tax rate as follows: As of December 31, 2018 2017 2016 Statutory federal income tax rate 21.0 % (35.0 )% (35.0 )% State tax benefit 0.8 % (3.9 )% 0.6 % Increase in fair value of common stock warrants 0.4 % 4.3 % 0.8 % Reorganization costs — % — % 3.3 % Other — % (1.8 )% 0.2 % U.S. federal tax law change — % (5.1 )% — % Valuation allowance on deferred tax assets (24.7 )% 36.0 % 30.1 % Effective tax rate (2.5 )% (5.5 )% — % For the year ended December 31, 2018 , the Company’s effective tax rate differs from the statutory rate of 21% primarily due to the reversal of the Company's valuation allowance as substantially all of the Company's deferred tax assets became realizable on a more-likely-than-not basis. For the year ended December 31, 2017 , the Company's effective tax rate differs from the statutory rate of 35% principally due to the operating losses for which no tax benefit was provided, coupled with the impact of the TCJA. A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows: For the year ended December 31, 2018 Balance at beginning of year $ — Tax positions related to the current and prior years: Additions 5,738,964 Reductions — Settlements — Lapses in applicable statutes of limitation — Balance at the end of the year $ 5,738,964 As of December 31, 2017 , the Company did not have any unrecognized tax benefits. Included in the balance of unrecognized tax benefits as of December 31, 2018 , are potential benefits of $5.7 million that, if recognized, would affect the effective tax rate. There are no uncertain tax positions for which it is reasonably possible that the total amounts of unrecognized benefits will significantly increase or decrease within twelve months from December 31, 2018 . The Company files federal income tax returns and income tax returns in various state and local tax jurisdictions. The open tax years for U.S. federal, state and local tax returns are 2014-2018; open tax years relating to any of the Company’s net operating losses begin in 2001. In the event that the Company concludes that it is subject to interest and/or penalties arising from uncertain tax positions, the Company will present interest and penalties as a component of income taxes. No amounts of interest or penalties were recognized in the Company’s consolidated financial statements for any of the years in the three-year period ended December 31, 2018 .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating lease commitments The Company leases its Corvallis, Oregon, facilities and office space under an operating lease which was signed on November 3, 2017 and commenced on January 1, 2018. This lease expires December 31, 2019. The Company had a lease for the same location prior to this lease. On May 26, 2017 the Company and M&F Incorporated entered into a ten -year office lease agreement (the “New HQ Lease”), pursuant to which the Company agreed to lease 3,200 square feet at 31 East 62 nd Street, New York, New York. The Company is utilizing premises leased under the New HQ Lease as its new corporate headquarters. Rental expense, including charges for maintenance, utilities, real estate taxes and other operating expenses, totaled $0.7 million , $1.0 million and $1.2 million for the years ended December 31, 2018 , 2017 and 2016 , respectively. Future minimum cash rental commitments under non-cancelable operating leases as of December 31, 2018 are expected to be as follows: 2019 $ 541,376 2020 304,000 2021 304,000 2022 320,774 2023 352,000 Thereafter 1,197,778 Total $ 3,019,928 Legal Proceedings After several years of proceedings in litigation initiated by PharmAthene in 2006, the Delaware Court of Chancery on August 8, 2014 issued an opinion and order in which it determined, among other things, that PharmAthene was entitled to a lump sum damages award for its lost profits including interest and fees, based on U.S. government purchases of the Company's smallpox drug allegedly anticipated as of December 2006. On September 16, 2014, as a consequence of SIGA’s chapter 11 filing, the legal proceedings with PharmAthene were stayed, except that the parties agreed by stipulation approved by the Court on October 8, 2014 that the litigation could proceed. On January 15, 2015, the Delaware Court of Chancery entered its Final Order and Judgment (the “Final Order and Judgment”) awarding PharmAthene approximately $195.0 million , including pre-judgment interest up to January 15, 2015 (the “Judgment”). On December 23, 2015 the Delaware Supreme Court affirmed the Judgment. Pursuant to the Final Order and Judgment, SIGA also was liable to PharmAthene for $30,663.89 per day in post-judgment interest. On a series of dates up to and including a final payment on November 16, 2016, the Company paid PharmAthene an aggregate of $217.0 million to fully satisfy the Judgment, including post-judgment interest, in accordance with the bankruptcy plan of reorganization. From time to time, we may be involved in a variety of claims, suits, investigations and proceedings arising from the ordinary course of our business, collections claims, breach of contract claims, labor and employment claims, tax and other matters. Although such claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty, we believe that the resolution of such current pending matters, if any, will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flow. Regardless of the outcome, litigation can have an adverse impact on us because of legal costs, diversion of management resources and other factors.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Board of Directors and Outside Counsel A member of the Company’s Board of Directors is a member of the Company’s outside counsel. During the years ended December 31, 2018 , 2017 and 2016 , the Company incurred expenses of $450,000 , $400,000 and $1.5 million , respectively, related to services provided by the outside counsel. On December 31, 2018 the Company’s outstanding payables and accrued expenses included a $37,000 liability to the outside counsel. Board of Directors-Consulting Agreement On October 13, 2018, the Company, entered into a consulting agreement with a member of the Company’s Board of Directors. Under the agreement, the consulting services will include assisting the Company on expanded indications for TPOXX® and other business development opportunities as requested by the Company. The term of the agreement is for two years, with compensation for such services at an annual rate of $200,000 . During the year ended December 31, 2018, the Company incurred $42,935 related to services under this agreement. As of December 31, 2018, the Company’s outstanding payables and accrued expenses included a $42,935 liability associated with this agreement. Rights Offering-Backstop Agreement On October 13, 2016, in connection with the Rights Offering as discussed above, the Company entered into the Backstop Agreement with an affiliate of M&F (M&F is a principal stockholder of the Company) and the other Backstop Parties. Under the terms of the Backstop Agreement, the Backstop Parties agreed to purchase, pursuant to a separate private placement, a number of shares of common stock equal to the numbers of shares that would have not been subscribed for in the Rights Offering. The Backstop Agreement provided that the subscription price for the Backstop Parties would be equal to the subscription price applicable to all shareholders under the Rights Offering. Because the Rights Offering was fully subscribed, the Backstop Parties were not required to draw on such commitment. The Company issued 708,530 shares to Backstop Parties, of which approximately 565,000 shares were received by M&F, in payment of the five percent backstop fee ( $1,764,240 ) payable to the Backstop Parties in connection with the backstop agreement. When shares were issued to the Backstop Parties in payment of the backstop fee, the stock price of SIGA common stock was $2.49 per share (the closing price of the Company’s common stock on November 16, 2016). The fair value of the shares issued in satisfaction of the backstop fee was expensed to the income statement in 2016. There are no remaining payment obligations to the Backstop Parties under the Backstop Agreement. Real Estate Leases On May 26, 2017 the Company and M&F Incorporated entered into the New HQ Lease, pursuant to which the Company agreed to lease 3,200 square feet at 31 East 62 nd Street, New York, New York. The Company is utilizing premises leased under the New HQ Lease as its new corporate headquarters. The Company's rental obligations consist of a fixed rent of $25,333 , per month in the first sixty-three months of the term, subject to a rent abatement for the first six months of the term. From the first day of the sixty-fourth month of the term through the expiration or earlier termination of the lease, the Company's rental obligations consist of a fixed rent of $29,333 per month. In addition to the fixed rent, the Company will pay a facility fee in consideration of the landlord making available certain ancillary services, commencing on the first anniversary of entry into the lease. The facility fee will be $3,333 per month for the second year of the term and increase by five percent each year thereafter, to $4,925 per month in the final year of the term. On July 31, 2017, the Company and M&F, entered into a Termination of Sublease Agreement (the “Old HQ Sublease Termination Agreement”), pursuant to which the Company and M&F agreed to terminate the sublease dated January 9, 2013 for 6,676 square feet of rental square footage located at 660 Madison Avenue, Suite 1700, New York, New York (such sublease being the “ Old HQ Sublease ” and the location being the “ Old HQ ” ). Effectiveness of the Old HQ Sublease Termination Agreement was conditioned upon the commencement of a sublease for the Old HQ between M&F and a new subtenant (the “Replacement M&F Sublease”), which occurred on August 2, 2017. The Old HQ Sublease Termination Agreement obligates the Company to pay, on a monthly basis, an amount equal to the discrepancy (the “Rent Discrepancy”) between the sum of fixed rent and Additional Rent (as defined below) under the Old HQ Overlease (as defined below) and the sum of fixed rent and Additional Rent under the Replacement M&F Sublease. Under the Old HQ Sublease Termination Agreement, the Company and M&F release each other from any liability under the Old HQ Sublease. Under the Old HQ Sublease, the Company was obligated to pay fixed rent of approximately $60,000 per month until August 2018 and approximately $63,400 per month thereafter until the Old HQ Sublease expiration date of August 31, 2020. Additionally, the Company was obligated to pay certain operating expenses and taxes (“Additional Rent”), such Additional Rent being specified in the overlease between M&F and the landlord at 660 Madison Avenue (the “Old HQ Overlease”). Under the Replacement M&F Sublease, the subtenant’s rental obligations were excused for the first two ( 2 ) months of the lease term (“Rent Concession Period ” ). Thereafter, the subtenant was obligated to pay fixed rent of $36,996 per month for the first twelve ( 12 ) months, and is obligated to pay $37,831 per month for the next 12 months, and $38,665 per month until the scheduled expiration of the Replacement M&F Sublease on August 24, 2020. In addition to fixed rent, the subtenant is also obligated to pay, pursuant to the Replacement M&F Sublease, a portion of the Additional Rent specified in the Old HQ Overlease. For the time period between August 2, 2017 and August 31, 2020 (the expiration date of the Old HQ Sublease), the Company estimates that it will pay a total of approximately $0.9 million combined in fixed rent and additional amounts payable under the New HQ Lease and a total of approximately $1.1 million in Rent Discrepancy under the Old HQ Sublease Termination Agreement, for a cumulative total of $2.0 million . In contrast, fixed rent and estimated Additional Rent under the Old HQ Sublease, for the aforementioned time period, would have been a total of approximately $2.4 million if each of the New HQ Lease, Replacement M&F Sublease and Old HQ Sublease Termination Agreement had not been entered into by each of the parties thereto. Because amounts such as operating expenses and taxes may vary, the foregoing totals can only be estimated at this time and are subject to change. As a result of the above-mentioned transactions, the Company has discontinued usage of Old HQ in the third quarter of 2017. As such, for the year ended December 31, 2017 the Company recorded a loss of approximately $1.1 million in accordance with ASC 420, Exit or Disposal Obligations . This loss primarily represented the discounted value of estimated Rent Discrepancy payments to occur in the future, and included costs related to the termination of the old HQ Sublease. The Company also wrote-off approximately $0.1 million of leasehold improvements and furniture and fixtures related to the Old HQ. The following table summarizes activity relating to the liability that was recorded as a result of the lease termination: For the years ended December 31, 2018 2017 Beginning Balance $ 814,622 $ — Charges 35,861 1,096,648 Cash Payments (340,546 ) (282,026 ) Lease Termination Liability $ 509,937 $ 814,622 For the years ended December 31, 2018 and 2017, approximately $0.2 million and $0.5 million of the lease termination liability is included in Other liabilities on the consolidated balance sheet with the remainder in accrued expenses. Pre-Clinical Development Program On May 17, 2018, the Company and vTv Therapeutics LLC ("vTv") entered into an asset purchase agreement, pursuant to which the Company acquired data related to certain pre-clinical development activities. Such data contains information that could be used to potentially develop clinical drug candidates. A de minimis amount ($10) was paid by the Company to vTv in order to execute the asset purchase agreement. vTv, which is majority owned by affiliates of M&F, will receive a royalty of 1-4% of sales in the event that SIGA is able to (i) successfully develop a drug from the acquired data and (ii) there are drug sales. Additionally, vTv will receive up to 10% of development revenues in the event that SIGA receives revenues in connection with any development activities.

Reorganization (Notes)

Reorganization (Notes)	12 Months Ended
	Dec. 31, 2018
Reorganizations [Abstract]
Reorganization	Reorganization Items, net: On April 12, 2016, the Company emerged from chapter 11 of the Bankruptcy Code when the Company's plan of reorganization (the “Plan”) became effective, and on December 22, 2016 the Company's chapter 11 case was closed by the Bankruptcy Court. Under the Plan, the Company fully paid all of its claims. The Company did not apply the provisions of fresh start accounting as ownership of existing shares of the Company's common stock remained unaltered by the Plan. Prior to April, 12 2016, the effective date of the Plan, the Company was operating its business as a “debtor-in-possession.” The Company had filed on September 16, 2014, a voluntary petition for relief under chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) chapter 11 Case Number 14-12623 (SHL). The chapter 11 case preserved the Company's ability to satisfy its commitments under the 2011 BARDA Contract (as defined in Note 3 ) and preserved its operations, which likely would have been jeopardized by the enforcement of a judgment stemming from the Company's litigation with PharmAthene, Inc. While operating as a debtor-in-possession under chapter 11, the Company pursued an appeal of the Delaware Court of Chancery Final Order and Judgment, without having to post a bond. Reorganization items represent expenses in connection with the chapter 11 case. For the year ended December 31, 2016 , reorganization items consisted of the following: Legal fees $ 1,951,381 Professional fees 1,732,521 Trustee fees 33,000 Total $ 3,716,902 Subsequent to the Effective Date of the Plan, expenses directly attributable to the implementation of the Plan are reported in selling, general and administrative expenses. During the year ended December 31, 2016 , the Company paid approximately $4.6 million for reorganization items.

Financial Information By Quarte

Financial Information By Quarter (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information [Abstract]
Financial Information By Quarter	Financial Information By Quarter (Unaudited) Three Months Ended 2018 March 31 June 30 September 30 December 31 (in thousands, except for per share data) Revenues $ 1,748 $ 2,661 $ 471,075 $ 1,569 Cost of sales and supportive services — — 95,166 103 Selling, general & administrative 3,057 2,880 3,115 3,828 Research and development 3,008 3,312 3,723 2,973 Patent preparation fees 218 178 186 207 Operating income (loss) (4,535 ) (3,710 ) 368,885 (5,541 ) Net income (loss) (11,582 ) (7,051 ) 388,050 52,391 A Net loss per share: basic $ (0.15 ) $ (0.09 ) $ 4.85 $ 0.65 Net loss per share: diluted $ (0.15 ) $ (0.09 ) $ 4.71 $ 0.65 A- Includes sale of PRV in October 2018. See Note 1 for additional information. Three Months Ended 2017 March 31 June 30 September 30 December 31 (in thousands, except for per share data) Revenues $ 5,202 $ 4,265 $ 1,390 $ 1,412 Selling, general and administrative 2,870 3,058 3,094 3,281 Research and development 6,360 5,068 2,471 2,781 Patent expenses 241 197 251 221 Lease termination — — 1,225 — Operating loss (4,269 ) (4,059 ) (5,651 ) (4,871 ) Net loss (8,615 ) (7,501 ) (9,816 ) (10,303 ) Loss per common share: basic and diluted $ (0.11 ) $ (0.10 ) $ (0.12 ) $ (0.13 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the periods reported. The most significant estimates include the variables used in the calculation of fair value of warrants granted or issued by the Company, reported amounts of revenue, and the valuation of deferred tax assets. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the financial statements in the period they are determined to be necessary. Actual results could differ from these estimates.
Basis of Presentation	Basis of Presentation The consolidated financial statements and related disclosures are presented in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) and reflect the consolidated financial position, results of operations and cash flows for all periods presented.
Cash Equivalents	Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents On January 1, 2018, the Company adopted ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, a consensus of the FASB’s Emerging Issues Task Force . The new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities are required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions.
Concentration of Credit Risk	Concentration of Credit Risk The Company has cash in bank accounts that exceeds the Federal Deposit Insurance Corporation insured limits. The Company has not experienced any losses on its cash accounts and no allowance has been provided for potential credit losses because management believes that any such losses would be minimal, if any.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded net of provisions for doubtful accounts. At December 31, 2018 and 2017 , 100% of accounts receivable represented receivables from BARDA. An allowance for doubtful accounts is based on specific analysis of the receivables. At December 31, 2018 and 2017 , the Company had no allowance for doubtful accounts.
Inventory	Inventory Inventory is stated at the lower of cost or net realizable value. The Company capitalizes inventory costs associated with the Company’s products when, based on management’s judgment, future commercialization is considered probable and the future economic benefit is expected to be realized; otherwise, such costs are expensed as research and development. Inventory is evaluated for impairment periodically to identify inventory that may expire prior to expected sale or has a cost basis in excess of its net realizable value. If certain batches or units of product no longer meet quality specifications or become obsolete due to expiration, the Company records a charge to write down such unmarketable inventory to its net realizable value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided on a straight-line method over the estimated useful lives of the various asset classes. The estimated useful lives are as follows: five years for laboratory equipment; three years for computer equipment; and seven years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the lease term. Maintenance, repairs and minor replacements are charged to expense as incurred.
Warrant Liability	Warrant Liability The Company accounts for warrants in accordance with the authoritative guidance which requires that free-standing derivative financial instruments with certain cash settlement features be classified as assets or liabilities at the time of the transaction, and recorded at their fair value. Fair value is estimated using model-derived valuations. Any changes in the fair value of the derivative instruments are reported in earnings or loss as long as the derivative contracts are classified as assets or liabilities.
Revenue Recognition	Revenue Recognition All of the Company’s revenue is derived from long-term contracts that span multiple years. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Adoption of ASC 606 . On January 1, 2018, the Company adopted ASC 606 using the modified retrospective method applied to those contracts that were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historical accounting under ASC 605, Revenue Recognition . The cumulative impact of adopting ASC 606 as of January 1, 2018 was a decrease to deferred revenue of approximately $1.8 million ; a decrease to deferred costs of approximately $2.1 million ; an increase to receivables of approximately $0.1 million and a net increase to opening accumulated deficit of $0.2 million , net of tax. For the year ended December 31, 2018, the impact to revenues as a result of applying ASC 606 was an increase of approximately $ 1.0 million . Performance Obligations . A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. As of December 31, 2018, the Company's active performance obligations, for the contracts outlined in Note 3 , consist of the following: three performance obligations relate to research and development services; two relate to manufacture and delivery of product; and one is associated with storage of product. Contract modifications may occur during the course of performance of our contracts. Contracts are often modified to account for changes in contract specifications or requirements. In most instances, contract modifications are for services that are not distinct, and, therefore, are accounted for as part of the existing contract. The Company’s performance obligations are satisfied over time as work progresses or at a point in time. Substantially all of the Company’s revenue related to research and development performance obligations is recognized over time, because control transfers continuously to our customers. Typically, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying the Company’s performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, overhead, and third-party services. Revenue connected with the performance obligation to deliver courses of oral TPOXX® to the Strategic Stockpile, which includes related services, milestones and advance payments under the 2011 BARDA Contract, has been recognized at a point in time. Revenue associated with this performance obligation was recognized when BARDA obtained control of the asset, which was upon delivery to and acceptance by the customer and at the point in time when the constraint on the consideration was resolved. The consideration, which is variable consideration, was constrained until the FDA approved oral TPOXX® for the treatment of smallpox on July 13, 2018. Prior to FDA approval, consideration had been constrained because the FDA Approval Replacement Obligation (as defined in Note 3) had not been quantified or specified. Following FDA approval, the possibility of having to replace product pursuant to the FDA Approval Replacement Obligation was essentially eliminated and deemed to be remote since there was no difference between the approved product and the courses of oral TPOXX® that had been delivered to the Strategic Stockpile. Contract Estimates . Accounting for long-term contracts and grants involves the use of various techniques to estimate total contract revenue and costs. Contract estimates are based on various assumptions to project the outcome of future events that often span multiple years. These assumptions include labor productivity; the complexity of the work to be performed; external factors such as customer behavior and potential regulatory outcomes; and the performance of subcontractors, among other variables. The nature of the work required to be performed on many of the Company’s performance obligations and the estimation of total revenue and cost at completion are complex, subject to many variables and require significant judgment. The consideration associated with research and development services is variable as the total amount of services to be performed has not been finalized. The Company estimates variable consideration as the most likely amount to which it expects to be entitled. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur and when any uncertainty associated with variable consideration is resolved. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our historical and anticipated performance, external factors, trends and all other information (historical, current and forecasted) that is reasonably available to us. A significant change in one or more of these estimates could affect the profitability of the Company’s contracts. As such, the Company reviews and updates its contract-related estimates regularly. The Company recognizes adjustments in estimated revenues, research and development expenses and cost of sales and supportive services under the cumulative catch-up method. Under this method, the impact of the adjustment on revenues, research and development expenses and cost of sales and supportive services recorded to date on a contract is recognized in the period the adjustment is identified. Contract Balances . The timing of revenue recognition, billings and cash collections may result in billed accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) in the consolidated balance sheets. Generally, amounts are billed as work progresses in accordance with agreed-upon contractual terms either at periodic intervals (monthly) or upon achievement of contractual milestones. Under typical payment terms of fixed price arrangements, the customer pays the Company either performance-based payments or progress payments. For the Company’s cost-type arrangements, the customer generally pays the Company for its actual costs incurred, as well as its allocated overhead and G&A costs. Such payments occur within a short period of time. Remaining Performance Obligations . Remaining performance obligations represent the transaction price for which work has not been performed and excludes unexercised contract options. As of December 31, 2018 the aggregate amount of transaction price allocated to remaining performance obligations for the 2011 BARDA Contract, 2018 BARDA Contract and the IV Formulation R&D Contract was $58.1 million . The Company expects to recognize this amount as revenue over the next five years as the specific timing for satisfying the performance obligations is subjective and outside the Company’s control. Deferred Revenue When the Company receives
Deferred Revenue	Deferred Revenue When the Company receives consideration, or such consideration is unconditionally due, prior to transferring goods or services to the customer under the terms of a sales contract, the Company records deferred revenue, which represents a contract liability. The Company recognizes deferred revenue as net revenues once control of goods and/or services has been transferred to the customer and all revenue recognition criteria have been met and any constraints have been resolved. Historically, the Company deferred revenue in connection with the manufacture and delivery of oral TPOXX® under the 2011 BARDA Contract. Revenue recognition as of December 31, 2017 was constrained by the unquantifiable possibility of product replacement pursuant to the FDA Approval Replacement Obligation. On July 13, 2018, the FDA approved oral TPOXX® for the treatment of smallpox. As a result of FDA approval, the possibility of having to replace product pursuant to the FDA Approval Replacement Obligation was essentially eliminated and deemed to be remote since there was no difference between the approved product and the courses of oral TPOXX® that had already been delivered to the Strategic Stockpile. As such, deferred revenue as of December 31, 2017 associated with the 2011 BARDA Contract was recorded as product sales and supportive services during the year ended December 31, 2018.
Research and Development	Research and Development Research and development expenses include costs directly and indirectly attributable to the conduct of research and development programs, and performance pursuant to the BARDA contracts, including employee related costs, materials, supplies, depreciation on and maintenance of research equipment, the cost of services provided by outside contractors, including services related to the Company’s clinical trials and facility costs, such as rent, utilities, and general support services. All costs associated with research and development are expensed as incurred. Costs related to the acquisition of technology rights, for which development work is still in process, and that have no alternative future uses, are expensed as incurred.
Goodwill	Goodwill The Company evaluates goodwill for impairment at least annually or as circumstances warrant. The impairment review process compares the fair value of the reporting unit in which goodwill resides to its carrying value. The Company operates as one business and one reporting unit. Therefore, the goodwill impairment analysis is performed on the basis of the Company as a whole, using the market capitalization of the Company as an estimate of its fair value.
Share-based Compensation	Share-based Compensation Stock-based compensation expense for all share-based payment awards made to employees and directors is determined on the grant date; for options awards, fair value was estimated using the Black-Scholes model and for stock-settled stock appreciation rights (“SSARs”), fair value was estimated using the Monte Carlo method. These compensation costs are recognized net of an estimated forfeiture rate over the requisite service periods of the awards. Forfeitures are estimated on the date of the respective grant and revised if actual or expected forfeiture activity differs from original estimates.
Income Taxes	Income Taxes The Company recognizes income taxes utilizing the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities at enacted tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is established if it is more likely than not that some or the entire deferred tax asset will not be realized. The recognition of a valuation allowance for deferred taxes requires management to make estimates and judgments about the Company’s future profitability which are inherently uncertain.
Earnings (Loss) per Share	Earnings (Loss) per Share Basic earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, assuming potentially dilutive common shares from option exercises, SSARs, RSUs, warrants and other incentives had been issued and any proceeds received in respect thereof were used to repurchase common stock at the average market price during the period. The assumed proceeds used to repurchase common stock is the sum of the amount to be paid to the Company upon exercise of options and the amount of compensation cost attributed to future services not yet recognized.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and other current liabilities approximates fair value due to the relatively short maturity of these instruments. Common stock warrants which are classified as liabilities are recorded at their fair market value as of each reporting period. The measurement of fair value requires the use of techniques based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The inputs create the following fair value hierarchy: • 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. The Company uses model-derived valuations where certain inputs are unobservable to third parties to determine the fair value of common stock warrants on a recurring basis and classify such liability-classified warrants in Level 3. As described in Note 8 , the fair value of the liability-classified warrant was $12.4 million at December 31, 2018 . At December 31, 2018 , the fair value of the debt was $91.1 million and the carrying value of the debt was $75.5 million . The Company used a discounted cash flow model to estimate the fair value of the debt by applying a discount rate to future payments expected to be made as set forth in the Loan Agreement. The fair value of the loan was measured using Level 3 inputs. The discount rate was determined using market participant assumptions. There were no transfers between levels of the fair value hierarchy during 2018.
Legal Contingencies	Loss Contingencies The Company is subject to certain contingencies arising in the ordinary course of business. The Company records accruals for these contingencies to the extent that a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. Alternatively, when no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. The Company expenses legal costs associated with loss contingencies as incurred. We record anticipated recoveries under existing insurance contracts when recovery is assured.
Segment Reporting	Segment Information The Company is managed and operated as one business. The entire business is managed by a single management team that reports to the chief executive officer, who is the Chief Operating Decision Maker. The Company does not operate separate lines of business or separate business entities with respect to any of its product candidates. Accordingly, the Company does not prepare discrete financial information with respect to separate product areas or by location and has only one reportable segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements On January 26, 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350) : Simplifying the Test for Goodwill Impairment . The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. The revised guidance will be applied prospectively, and is effective for fiscal years beginning after December 15, 2019. The Company believes the adoption of ASU No. 2017-04 will not have a significant impact on its consolidated financial statements. On February 25, 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which relates to the accounting for leasing transactions. This standard requires a lessee to record on the balance sheet the assets and liabilities for the rights and obligations created by leases with lease terms of more than 12 months. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. The Company has elected to adopt the standard using the modified retrospective transition approach with a January 1, 2019 effective date of initial application. Under the modified retrospective transition method, the Company will recognize a cumulative effect adjustment to retained earnings as of the effective date in the period of adoption. Consequently, comparative financial information and disclosures provided for dates and periods before January 1, 2019 will not be updated in the Company’s future filings. While the Company is continuing to evaluate the impact that ASU No. 2016-02 will have on its consolidated financial statements, the Company expects that a right-of-use asset and a corresponding amount of lease liability in the range of $3.0 - $4.0 million will be recorded on the consolidated balance sheet.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Cash, cash equivalents and restricted cash	The following table reconciles cash, cash equivalents and restricted cash per the consolidated statements of cash flows to the consolidated balance sheet for each respective period: As of December 31, 2018 2017 2016 2015 Cash and cash equivalents $ 100,652,809 $ 19,857,833 $ 28,701,824 $ 112,711,028 Restricted cash - short-term 11,452,078 10,701,305 10,138,890 — Restricted cash - long-term 68,292,023 6,542,448 17,333,332 — Cash, cash equivalents and restricted cash $ 180,396,910 $ 37,101,586 $ 56,174,046 $ 112,711,028
Deferred revenue	The following table presents changes in the Company's deferred revenue: For the year ended December 31, 2018 Balance at December 31, 2017 $ 378,896,803 Cumulative effect of accounting change (1,780,050 ) Billings in advance of revenue recognized 3,399,630 Revenue recognized (376,356,437 ) Balance at December 31, 2018, included in Accrued expenses and other current liabilities $ 4,159,946
Fair value, liabilities measured on recurring basis, unobservable input reconciliation	The following table presents changes in the liability-classified warrant measured at fair value using Level 3 inputs: Fair Value Measurements of Level 3 liability classified warrant Warrant liability at December 31, 2017 $ 11,466,162 Increase in fair value of warrant liability 6,922,624 Exercise of warrants (6,007,847 ) Warrant liability at December 31, 2018 $ 12,380,939

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory consisted of the following: As of December 31, 2018 December 31, 2017 Work in-process $ 1,950,445 $ 2,025,445 Finished goods 957,765 957,804 Inventory $ 2,908,210 $ 2,983,249

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment consisted of the following: As of December 31, 2018 December 31, 2017 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 618,248 701,762 Furniture and fixtures 377,859 363,588 3,416,135 3,485,378 Less-accumulated depreciation (3,244,861 ) (3,346,738 ) Property, plant and equipment, net $ 171,274 $ 138,640

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	Accrued expenses and other current liabilities consisted of the following: As of December 31, 2018 December 31, 2017 Bonus $ 2,600,839 $ 2,538,340 Deferred revenue 4,159,946 1,255,318 Research and development vendor costs 1,446,410 183,856 Professional fees 242,043 381,980 Vacation 294,794 328,588 Other 904,885 793,497 Accrued expenses and other current liabilities $ 9,648,917 $ 5,481,579

Per Share Data (Tables)

Per Share Data (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following is a reconciliation of the basic and diluted earnings (loss) per share computation: Year Ended December 31, 2018 2017 2016 Net income (loss) for basic earnings per share $ 421,807,828 $ (36,235,484 ) $ (39,697,960 ) Less: Change in fair value of warrants (6,922,624 ) — — Net income (loss), adjusted for change in fair value of warrants for diluted earnings per share $ 428,730,452 $ (36,235,484 ) $ (39,697,960 ) Weighted-average shares 79,923,295 78,874,494 57,188,503 Effect of potential common shares 2,785,177 — — Weighted-average shares: diluted 82,708,472 78,874,494 57,188,503 Earnings (loss) per share: basic $ 5.28 $ (0.46 ) $ (0.69 ) Earnings (loss) per share: diluted $ 5.18 $ (0.46 ) $ (0.69 )
Schedule of antidilutive securities excluded from computation of earnings per share	The weighted average number of equity instruments excluded consisted of: Year Ended December 31, 2017 2016 Stock Options 1,386,176 1,789,751 Stock-Settled Stock Appreciation Rights 333,252 360,031 Restricted Stock Units 1,396,730 705,850 Warrants 2,690,950 877,303

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options activity	A summary of the Company’s stock option activity is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2018 1,062,467 $ 5.42 Granted — — Exercised (635,067 ) 3.06 Canceled/Expired (25,000 ) 7.13 Outstanding at December 31, 2018 402,400 $ 9.03 2.04 $ 421,250 Vested at December 31, 2018 402,400 $ 9.03 2.04 $ 421,050 Exercisable at December 31, 2018 402,400 $ 9.03 2.04 $ 421,050
Stock appreciation rights award activity	A summary of the Company’s SSAR activity is as follows: Number of SSARs Weighted Average Exercise Price Weighted Average Remaining Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at January 1, 2018 266,150 $ 3.53 Granted — — Exercised (232,050 ) 3.53 Canceled/Expired — — Outstanding at December 31, 2018 34,100 3.53 0.09 149,017 Vested at December 31, 2018 34,100 $ 3.53 0.09 $ 149,017 Exercisable at December 31, 2018 34,100 $ 3.53 0.09 $ 149,017
Restricted stock and restricted stock units activity	RSUs awarded to employees vest in equal annual installments over a three-year period and RSUs awarded to directors of the Company vest over a one-year period. A summary of the Company’s RSU activity is as follows: Number of RSUs Weighted Average Grant-Date Fair Value Outstanding at January 1, 2018 1,472,000 $ 2.61 Granted 105,000 6.53 Vested and released (1,077,884 ) 2.69 Canceled/Expired — — Outstanding at December 31, 2018 499,116 $ 3.26

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense (benefit)	he Company's (benefit) provision for income taxes comprises the following: For the year ended December 31, 2018 2017 2016 Current: Federal $ (1,326,022 ) $ 623,060 $ (5,093 ) State and local 459,172 1,179 (1,446 ) Total current provision (benefit) (866,850 ) 624,239 (6,539 ) Deferred: Federal (9,256,661 ) (2,724,371 ) 21,252 State and local (44,761 ) 6,342 (829 ) Total deferred (benefit) provision (9,301,422 ) (2,718,029 ) 20,423 Total (benefit) provision $ (10,168,272 ) $ (2,093,790 ) $ 13,884
Schedule of deferred tax assets and liabilities	he Company’s deferred tax assets and liabilities comprise the following: As of December 31, 2018 2017 Deferred income tax assets: Net operating losses 9,798,319 $ 38,087,782 Deferred research and development costs 60,535 205,527 Amortization of intangible assets 171,044 282,213 Share-based compensation 508,089 1,001,662 Fixed assets 371,804 417,085 Deferred revenue — 84,130,212 Alternative minimum tax credits 1,326,228 2,652,250 Other 1,028,083 1,024,082 Deferred income tax assets 13,264,102 127,800,813 Less: valuation allowance (1,051,307 ) (102,556,657 ) Deferred income tax assets, net of valuation allowance $ 12,212,795 $ 25,244,156 Deferred income tax liabilities: Amortization of goodwill (192,146 ) (193,458 ) Capitalized contract costs — (21,518,646 ) Other (287,264 ) (1,100,089 ) Deferred income tax asset (liability), net $ 11,733,385 $ 2,431,963
Schedule of effective income tax rate reconciliation	The Company’s effective tax rate differs from the U.S. federal statutory income tax rate as follows: As of December 31, 2018 2017 2016 Statutory federal income tax rate 21.0 % (35.0 )% (35.0 )% State tax benefit 0.8 % (3.9 )% 0.6 % Increase in fair value of common stock warrants 0.4 % 4.3 % 0.8 % Reorganization costs — % — % 3.3 % Other — % (1.8 )% 0.2 % U.S. federal tax law change — % (5.1 )% — % Valuation allowance on deferred tax assets (24.7 )% 36.0 % 30.1 % Effective tax rate (2.5 )% (5.5 )% — %
Schedule of unrecognized tax benefits roll forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows: For the year ended December 31, 2018 Balance at beginning of year $ — Tax positions related to the current and prior years: Additions 5,738,964 Reductions — Settlements — Lapses in applicable statutes of limitation — Balance at the end of the year $ 5,738,964

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum cash rental commitments under non-cancelable operating leases as of December 31, 2018 are expected to be as follows: 2019 $ 541,376 2020 304,000 2021 304,000 2022 320,774 2023 352,000 Thereafter 1,197,778 Total $ 3,019,928

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes activity relating to the liability that was recorded as a result of the lease termination: For the years ended December 31, 2018 2017 Beginning Balance $ 814,622 $ — Charges 35,861 1,096,648 Cash Payments (340,546 ) (282,026 ) Lease Termination Liability $ 509,937 $ 814,622 For the years ended December 31, 2018 and 2017, approximately $0.2 million and $0.5 million of the lease termination liability is included in Other liabilities on the consolidated balance sheet with the remainder in accrued expenses. Pre-Clinical Development Program On May 17, 2018, the Company and vTv Therapeutics LLC ("vTv") entered into an asset purchase agreement, pursuant to which the Company acquired data related to certain pre-clinical development activities. Such data contains information that could be used to potentially develop clinical drug candidates. A de minimis amount ($10) was paid by the Company to vTv in order to execute the asset purchase agreement. vTv, which is majority owned by affiliates of M&F, will receive a royalty of 1-4% of sales in the event that SIGA is able to (i) successfully develop a drug from the acquired data and (ii) there are drug sales. Additionally, vTv will receive up to 10% of development revenues in the event that SIGA receives revenues in connection with any development activities.

Reorganization (Tables)

Reorganization (Tables)	12 Months Ended
	Dec. 31, 2018
Reorganizations [Abstract]
Reorganization items	, reorganization items consisted of the following: Legal fees $ 1,951,381 Professional fees 1,732,521 Trustee fees 33,000 Total $ 3,716,902

Financial Information By Quar_2

Financial Information By Quarter (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information [Abstract]
Schedule of quarterly financial information	Financial Information By Quarter (Unaudited) Three Months Ended 2018 March 31 June 30 September 30 December 31 (in thousands, except for per share data) Revenues $ 1,748 $ 2,661 $ 471,075 $ 1,569 Cost of sales and supportive services — — 95,166 103 Selling, general & administrative 3,057 2,880 3,115 3,828 Research and development 3,008 3,312 3,723 2,973 Patent preparation fees 218 178 186 207 Operating income (loss) (4,535 ) (3,710 ) 368,885 (5,541 ) Net income (loss) (11,582 ) (7,051 ) 388,050 52,391 A Net loss per share: basic $ (0.15 ) $ (0.09 ) $ 4.85 $ 0.65 Net loss per share: diluted $ (0.15 ) $ (0.09 ) $ 4.71 $ 0.65 A- Includes sale of PRV in October 2018. See Note 1 for additional information. Three Months Ended 2017 March 31 June 30 September 30 December 31 (in thousands, except for per share data) Revenues $ 5,202 $ 4,265 $ 1,390 $ 1,412 Selling, general and administrative 2,870 3,058 3,094 3,281 Research and development 6,360 5,068 2,471 2,781 Patent expenses 241 197 251 221 Lease termination — — 1,225 — Operating loss (4,269 ) (4,059 ) (5,651 ) (4,871 ) Net loss (8,615 ) (7,501 ) (9,816 ) (10,303 ) Loss per common share: basic and diluted $ (0.11 ) $ (0.10 ) $ (0.12 ) $ (0.13 )

Organization and Basis of Pre_2

Organization and Basis of Presentation Liquidity (Details) - USD ($) $ in Millions	Oct. 31, 2018	Jul. 31, 2018	Sep. 30, 2018	Jul. 31, 2018	Sep. 30, 2018	Dec. 31, 2018
Procurement Contract [Line Items]
Contract value, option, FDA approval		$ 50				$ 50
Proceeds from sale of priority review voucher	$ 80					$ 78.3
Government contract, proceeds from payments for courses			$ 600
BARDA Contract
Procurement Contract [Line Items]
Reduced holdback amount				$ 41	$ 41

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Restricted Cash and Cash Equivalents) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Increase in net cash provided by (used in) financing activities	$ (3,812,561)	$ (585,569)	$ 59,087,357
Secured Debt | Loan Agreement
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash and cash equivalents	$ 5,000,000
Accounting Standards Update 2016-18
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash		$ 10,200,000	1,200,000
Increase in net cash provided by (used in) financing activities			$ 28,700,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Cash and cash equivalents	$ 100,652,809	$ 19,857,833	$ 28,701,824	$ 112,711,028
Restricted cash - short-term	11,452,078	10,701,305	10,138,890	0
Restricted cash - long-term	68,292,023	6,542,448	17,333,332	0
Cash, cash equivalents and restricted cash	$ 180,396,910	$ 37,101,586	$ 56,174,046	$ 112,711,028

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Accounts Receivable and Property, Plant and Equipment, (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Receivables percentage	100.00%	100.00%
Lab equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Computer Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Revenue) (Details) - USD ($)	Sep. 10, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred revenue		$ 4,159,946	$ 1,255,318
Accumulated deficit		(115,791,261)	(537,375,776)		$ 200,000
Revenue		477,053,782	12,268,960	$ 14,987,628
Revenue, remaining performance obligation, amount		58,100,000
Government contract, number of payments to be paid upon delivery of bulk drug substance	$ 3,200,000	3,200,000
Accounts Payable and Accrued Liabilities
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred revenue			$ 1,300,000
Difference between Revenue Guidance in Effect before and after Topic 606
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred revenue					1,800,000
Deferred costs					2,100,000
Accounts receivable, net					$ 100,000
Revenue		$ 1,000,000

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Contract with Customer Liability) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Balance at December 31, 2017	$ 378,896,803
Cumulative effect of accounting change	(1,780,050)
Billings in advance of revenue recognized	3,399,630
Revenue recognized	(376,356,437)
Balance at December 31, 2018, included in Accrued expenses and other current liabilities	$ 4,159,946

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Fair Value of Financial Instruments) (Details) - USD ($)	Dec. 31, 2018	Sep. 02, 2016
Warrants
Class of Warrant or Right [Line Items]
Fair value of warrant	$ 12,380,939	$ 5,800,000
Senior Secured Term Loan
Class of Warrant or Right [Line Items]
Loan outstanding	75,500,000
Senior Secured Term Loan | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Class of Warrant or Right [Line Items]
Loan outstanding	$ 91,100,000

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Change in Level 3 Liability) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Exercise of warrants	$ (6,007,847)
Warrant liability at December 31, 2018	$ 12,381,000

Summary of Significant Accou_11

Summary of Significant Accounting Policies (Recent Accounting Pronouncements) (Details) - Subsequent Event - Accounting Standards Update 2016-02	Jan. 01, 2019USD ($)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset	$ 3,000,000
Lease, liability	3
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset	4,000,000
Lease, liability	$ 4,000,000

Procurement Contract and Rese_2

Procurement Contract and Research Agreements (Details) contract in Millions	Feb. 21, 2019USD ($)	Sep. 10, 2018USD ($)coursestep	Jul. 31, 2018USD ($)	May 13, 2011USD ($)coursecontract	Jul. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)coursecontract	Dec. 31, 2017USD ($)
Procurement Contract [Line Items]
Number of courses to be delivered | course		1,488,000
Number of courses stored as vendor-managed inventory | course		212,000
Value of contract		$ 600,100,000		$ 508,700,000
Government contract base value award for delivery and support activities		51,700,000
Cost-reimbusement and fixed fee option for post-marketing							$ 40,800,000
Contract value, detail of option exercisable, production activities		536,200,000		14,400,000
Government contract, base value of award for delivery of courses		$ 11,100,000
Number of courses delivered, options, final drug product | course		35,700
Number of courses base, final drug product		$ 8,000,000
Number of courses, options, final drug product | course		20,000					64,000
Government contract, number of payments to be paid upon delivery of bulk drug substance		$ 3,200,000					$ 3,200,000
Number of courses, IV FDP | course							20,000
Contract value of development and support activities		32,000,000
Government contract, payments for supportive procurement activities		$ 600,000
Contract value, detail of option exercisable, development activities				$ 58,300,000
Number of primary manufacturing steps | step		2
Number of courses under modified contract | contract				1.7			1.7
Number of additional free courses | course				300,000
Amount received from contract for development and support activities							$ 43,900,000
Proceeds from manufacture and physical delivery of course, government contractses							459,800,000
Contract value, option, FDA approval			$ 50,000,000				50,000,000
Contract value of various options				$ 72,700,000
Restricted cash, long-term							0	$ 96,592,334
Cash consideration received						$ 375,600,000
Revenue, government contract							90,900,000
Research and development, future aggregate amount							15,100,000
BARDA Contract
Procurement Contract [Line Items]
Value of contract		$ 628,700,000
Payments for funding post marketing activities							12,200,000
Number of courses delivered, options, final drug product | course		1,452,300
Number of courses, options, final drug product | course		192,000
Government contract, number of payments to be paid upon delivery of bulk drug substance		$ 30,700,000
Contract value of development and support activities		5,600,000
Government contract, option value for delivery and courses		450,200,000
Government contract, payments to manufacture courses		77,000,000
Contract value, detail of option exercisable, development activities		$ 3,600,000
Amount eligible to be received in the future for reimbursements of development and supportive activities							$ 5,000,000
Reduced holdback amount					$ 41,000,000	$ 41,000,000
Restricted cash, long-term								$ 96,500,000
Subsequent Event
Procurement Contract [Line Items]
Cost-reimbusement and fixed fee option for post-marketing	$ 12,200,000

Inventory - Schedule of Invento

Inventory - Schedule of Inventory (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Work in process	$ 1,950,445	$ 2,025,445
Finished goods	957,765	957,804
Inventory	$ 2,908,210	$ 2,983,249

Inventory - Narrative (Details)

Inventory - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventory write-down	$ 0	$ 536,000	$ 0
Inventory write-downs		$ 686,000

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Leasehold improvements, gross	$ 2,420,028	$ 2,420,028
Computer equipment, gross	618,248	701,762
Furniture and fixtures, gross	377,859	363,588
Property, plant and equipment, gross	3,416,135	3,485,378
Accumulated depreciation, depletion and amortization, property, plant, and equipment	(3,244,861)	(3,346,738)
Property, plant and equipment, net	$ 171,274	$ 138,640

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation and other amortization	$ 69,630	$ 132,189	$ 174,275
Inventory write-down	0	$ 536,000	$ 0
Leasehold Improvements and Furnitures and Fixtures
Property, Plant and Equipment [Line Items]
Inventory write-down	$ 129,000

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Bonus	$ 2,600,839	$ 2,538,340
Deferred revenue	4,159,946	1,255,318
Research and development vendor costs	1,446,410	183,856
Professional fees	242,043	381,980
Vacation	294,794	328,588
Other	904,885	793,497
Accrued expenses and other current liabilities	$ 9,648,917	$ 5,481,579

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Oct. 31, 2018	Dec. 31, 2018	Aug. 27, 2018	Dec. 31, 2018	Dec. 31, 2017	Jul. 12, 2018	Jun. 30, 2018	Sep. 02, 2016
Debt Instrument [Line Items]
Proceeds from sale of priority review voucher	$ 80,000,000			$ 78,300,000
London Interbank Offered Rate (LIBOR) | Loan Agreement
Debt Instrument [Line Items]
Margin for term loan				11.50%
Debt instrument, interest rate during period				19.40%
Warrants
Debt Instrument [Line Items]
Fair value of warrant		$ 12,380,939		$ 12,380,939				$ 5,800,000
Secured Debt | Loan Agreement
Debt Instrument [Line Items]
Line of credit facility		80,000,000		80,000,000				80,000,000
Additional borrowing capacity							$ 5,000,000
Interest expense, debt				15,500,000	$ 14,800,000
Interest paid on term loan				0	10,300,000
Amortization of debt issuance costs				0	$ 4,500,000
Cash withdrawn from reserve account						$ 5,000,000
Debt instrument, fee amount		4,000,000		$ 4,000,000
Line of credit facility, minimum cash requirement		20,000,000	$ 5,000,000
Potential increase in interest rate				2.00%
Debt issuance costs, gross								$ 8,200,000
Remaining borrowing capacity		75.5		$ 75.5
Secured Debt | US Treasury Rate | Loan Agreement
Debt Instrument [Line Items]
Margin for term loan				0.50%
Secured Debt | Repayment of Interests | Loan Agreement
Debt Instrument [Line Items]
Capacity available for specific purpose other than for trade purchases		25,000,000		$ 25,000,000
Secured Debt | Payments Related to Litigation | Loan Agreement
Debt Instrument [Line Items]
Capacity available for specific purpose other than for trade purchases		$ 50,000,000		$ 50,000,000

Per Share Data - Earnings per S

Per Share Data - Earnings per Share Reconciliation (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net income (loss)	$ 52,391,000	$ 388,050,000	$ (7,051,000)	$ (11,582,000)	$ (10,303,000)	$ (9,816,000)	$ (7,501,000)	$ (8,615,000)	$ 421,807,828	$ (36,235,484)	$ (39,697,960)
Decrease In fair value of warrants									(6,922,624)	$ (4,738,753)	(894,785)
Net income (loss), adjusted for change in fair value of warrants for diluted earnings per share					$ (36,235,484)				$ 428,730,000		$ (39,697,960)
Weighted average shares outstanding: basic					78,874,494				79,923,295	78,874,494	57,188,503
Effect of potential common shares					0				2,785,177		0
Weighted average shares outstanding: diluted					78,874,494				82,708,472	78,874,494	57,188,503
Basic earnings (loss) per share	$ 0.65	$ 4.85	$ (0.09)	$ (0.15)	$ (0.46)				$ 0	$ (0.46)	$ (0.69)
Diluted earnings (loss) per share	$ 0.65	$ 4.71	$ (0.09)	$ (0.15)	$ (0.46)				$ 0	$ (0.46)	$ (0.69)

Per Share Data - Antidilutive S

Per Share Data - Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive employee share-based awards, excluded	1,386,176	1,789,751
Stock-Settled Stock Appreciation Rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive employee share-based awards, excluded	333,252	360,031
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive employee share-based awards, excluded	1,396,730	705,850
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive employee share-based awards, excluded	2,690,950	877,303

Financial Instruments (Details)

Financial Instruments (Details)	Sep. 02, 2016USD ($)$ / sharesshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Class of Stock [Line Items]
Exercise price of warrants | $ / shares	$ 2.29
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value		$ 12,381,000
Loss from change in fair value of warrant liabilities		6,922,624	$ 4,738,753	$ 894,785
Value of warrants exercised during period		$ 6,000,000
Stock issued during period, shares, exercise of warrants | shares		760,000
Warrants
Class of Stock [Line Items]
Warrants purchased, value | shares	4,000,000
Exercise price of warrants | $ / shares	$ 1.50
Class of warrant or right, outstanding | shares	2,700,000
Exercisable period for warrants (in years)	10 years	7 years 8 months 12 days	8 years 8 months 1 day
Subscription Right | Warrants
Class of Stock [Line Items]
Exercise price of warrants | $ / shares	$ 1.50
Warrants
Class of Stock [Line Items]
Warrants outstanding, measurement input	0.02	0.03	0.02
Warrants
Class of Stock [Line Items]
Class of warrant or right, outstanding | shares		1,749,117
Warrant liability	$ 5,800,000	$ 12,380,939
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value			$ 11,466,162
Expected Dividend Payment | Warrants
Class of Stock [Line Items]
Warrants outstanding, measurement input	0	0	0
Price Volatility | Warrants
Class of Stock [Line Items]
Warrants outstanding, measurement input	0.80	0.70	0.75

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	Nov. 16, 2016	Oct. 13, 2016	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2016	Sep. 02, 2016
Class of Warrant or Right [Line Items]
Capital units, authorized				620,000,000
Common stock, shares authorized				600,000,000	600,000,000
Preferred stock, shares authorized				20,000,000
Exercise price of warrants						$ 2.29
Common Stock
Class of Warrant or Right [Line Items]
Issuance of common stock associated with rights offering, shares	23,523,195				23,523,195
Equity Rights
Class of Warrant or Right [Line Items]
Equity offering	$ 35,300,000
Common Stock | Subscription Right
Class of Warrant or Right [Line Items]
Amount to be invested by each right to purchase securities (in dollars per share)	$ 0.65
Exercise price of warrants	$ 1.50
Class of warrant or right, exercise price of warrants or rights, volume of weighted average price during market hours, percentage	85.00%
Private Placement
Class of Warrant or Right [Line Items]
Backstop fee			$ 1,764,240	$ 1,764,240
Private Placement | Common Stock
Class of Warrant or Right [Line Items]
Stock issued during period, shares, new issues		708,530
MacAndrews & Forbes | Private Placement | Common Stock
Class of Warrant or Right [Line Items]
Stock issued during period, shares, new issues		565,000

Stock Compensation Plans - Narr

Stock Compensation Plans - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2012	May 23, 2017	Apr. 25, 2012	May 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized					8,500,000	4,500,000	2,000,000
Stock-based compensation expense	$ 2,300,000	$ 1,100,000	$ 800,000
Performance-based stock options			200,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of vested stock options		73,000
Total intrinsic value of stock options exercised	2,900,000	$ 65,000	$ 0
Performance-based stock options		100,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 700,000	$ 900,000
Number of shares granted	0			1,400,000
Weighted average grant-date fair value, granted				$ 0.68
Award vesting period				3 years
Maximum number of shares to be issued	23,157	162,393
Stock Appreciation Rights (SARs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period				7 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining requisite service period (in years)	9 months 15 days
Number of shares granted	105,000
Weighted average grant-date fair value, granted	$ 6.53	$ 0	$ 0
Unrecognized stock-based compensation cost	$ 1,100,000
Vesting of RSU's, value	$ 2,900,000	$ 600,000	$ 1,400,000
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year

Stock Compensation Plans (Stock

Stock Compensation Plans (Stock Plans and Stock Options) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,300,000	$ 1,100,000	$ 800,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares outstanding at beginning of period	1,062,467
Number of shares granted	0
Number of shares exercised	(635,067)
Number of shares canceled and expired	(25,000)
Number of shares outstanding at end of period	402,400	1,062,467
Number of shares vested	402,400
Number of shares exercisable	402,400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price outstanding at beginning of period	$ 5.42
Weighted average exercise price, granted	0
Weighted average exercise price, exercised	3.06
Weighted average exercise price, canceled and expired	7.13
Weighted average exercise price outstanding at end of period	9.03	$ 5.42
Weighted average exercise price, vested	9.03
Weighted average exercise price, exercisable	$ 9.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining life, outstanding	2 years 15 days
Weighted average remaining life, vested	2 years 15 days
Weighted average remaining life, exercisable	2 years 15 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Aggregate Intrinsic Value [Abstract]
Intrinsic value, outstanding	$ 421,250
Intrinsic value, vested	421,050
Intrinsic value, exercisable	$ 421,050

Stock Compensation Plans (Sto_2

Stock Compensation Plans (Stock Appreciation Rights) (Details) - Stock Appreciation Rights (SARs) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Number of shares outstanding at beginning of period	266,150
Number of shares granted	0	1,400,000
Number of shares exercised	232,050
Number of shares canceled and expired	0
Number of shares outstanding at end of period	34,100
Number of shares vested	34,100
Number of shares exercisable	34,100
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price outstanding at beginning of period	$ 3.53
Weighted average exercise price granted	0
Weighted average exercise price exercised	3.53
Weighted average exercise price canceled and expired	0
Weighted average exercise price outstanding at end of period	3.53
Weighted average exercise price, vested	3.53
Weighted average exercise price, exercisable	$ 3.53
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Weighted average remaining life, outstanding	1 month 2 days
Weighted average remaining life, vested	1 month 2 days
Weighted average remaining life, exercisable	1 month 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value [Abstract]
Intrinsic value outstanding	$ 149,017
Intrinsic value, vested	$ 149,017
Intrinsic value, exercisable	$ 149,017

Stock Compensation Plans (Restr

Stock Compensation Plans (Restricted Stock Awards and Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Number of shares outstanding at beginning of period	1,472,000
Number of shares granted	105,000
Number of shares vested and released	(1,077,884)
Number of shares canceled and expired	0
Number of shares outstanding at end of period	499,116	1,472,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average grant-date fair value outstanding at beginning of period	$ 2.61
Weighted average grant-date fair value, granted	6.53	$ 0	$ 0
Weighted average grant-date fair value, vested	2.69
Weighted averaged grant-date fair value, canceled and expired	0
Weighted average grant-date fair value outstanding at end of period	$ 3.26	$ 2.61

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) contract in Millions	Dec. 22, 2017	Dec. 21, 2017	May 13, 2011contract	Dec. 31, 2018USD ($)contract	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Income Tax Disclosure [Abstract]
Number of courses under modified contract | contract			1.7	1.7
Statutory federal income tax rate	21.00%	35.00%		21.00%	(35.00%)	(35.00%)
Deferred tax assets, alternative minimum tax				$ 1,326,228	$ 2,652,250
Valuation allowance, increase amount				101,500,000
Federal net operating loss carryforwards				40,300,000
Unrecognized tax benefits				$ 5,738,964	$ 0	$ 0

Income Taxes Provision (Benefit

Income Taxes Provision (Benefit) for Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current federal tax expense (benefit)	$ (1,326,022)	$ 623,060	$ (5,093)
Current state and local tax expense (benefit)	459,172	1,179	(1,446)
Current income tax expense (benefit)	(866,850)	624,239	(6,539)
Deferred federal income tax expense (benefit)	(9,256,661)	(2,724,371)	21,252
Deferred state and local income tax expense (Benefit)	(44,761)	6,342	(829)
Deferred income tax expense (benefit)	(9,301,422)	(2,718,029)	20,423
Benefit from (provision for) income taxes	$ (10,168,272)	$ (2,093,790)	$ 13,884

Income Taxes Deferred Tax Asset

Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax assets:
Net operating losses	$ 9,798,319	$ 38,087,782
Deferred research and development costs	60,535	205,527
Amortization of intangible assets	171,044	282,213
Share-based compensation	508,089	1,001,662
Fixed assets	371,804	417,085
Deferred revenue	0	84,130,212
Alternative minimum tax credits	1,326,228	2,652,250
Other	1,028,083	1,024,082
Deferred income tax assets	13,264,102	127,800,813
Deferred income tax assets, net of valuation allowance	(1,051,307)	(102,556,657)
Deferred income tax assets, net of valuation allowance	12,212,795	25,244,156
Deferred income tax liabilities:
Amortization of goodwill	(192,146)	(193,458)
Capitalized contract costs	0	(21,518,646)
Other	(287,264)	(1,100,089)
Deferred income tax asset (liability), net	$ 11,733,385	$ 2,431,963

Income Taxes Effective Tax Rate

Income Taxes Effective Tax Rate Reconciliation (Details)	Dec. 22, 2017	Dec. 21, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory federal income tax rate	(21.00%)	(35.00%)	(21.00%)	35.00%	35.00%
State tax benefit			(0.80%)	3.90%	(0.60%)
Increase in fair value of common stock warrants			(0.40%)	(4.30%)	(0.80%)
Reorganization costs			(0.00%)	(0.00%)	(3.30%)
Other			(0.00%)	1.80%	(0.20%)
U.S. federal tax law change			(0.00%)	5.10%	(0.00%)
Valuation allowance on deferred tax assets			24.70%	(36.00%)	(30.10%)
Effective tax rate			2.50%	5.50%	(0.00%)

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 0
Additions	5,738,964
Reductions	0
Settlements	0
Lapses in applicable statutes of limitation	0
Balance at the end of the year	$ 5,738,964

Commitments and Contingencies_2

Commitments and Contingencies (Details)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	May 26, 2017ft²	Nov. 16, 2016USD ($)	Dec. 23, 2015USD ($)	Jan. 15, 2015USD ($)	Jan. 09, 2013ft²
Loss Contingencies [Line Items]
Rent expense	$ 700,000	$ 1,000,000	$ 1,200,000
License Agreement litigation | Settled Litigation
Loss Contingencies [Line Items]
Final order and judgment							$ 195,000,000
Final order and judgment post-judgment interest						$ 30,663.89
Final order and judgment including interest					$ 217,000,000
MacAndrews & Forbes
Loss Contingencies [Line Items]
Area of real estate property (in sq ft) | ft²								6,676
New HQ Lease | MacAndrews & Forbes
Loss Contingencies [Line Items]
Lease term				10 years
Area of real estate property (in sq ft) | ft²				3,200

Commitments and Contingencies O

Commitments and Contingencies Operating Leases (Details)	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,019	$ 541,376
2,020	304,000
2,021	304,000
2,022	320,774
2,023	352,000
Thereafter	1,197,778
Total	$ 3,019,928

Related Party Transactions (Det

Related Party Transactions (Details)

Jul. 31, 2017USD ($)

May 26, 2017USD ($)ft²

Oct. 13, 2016shares

May 31, 2017USD ($)

Dec. 31, 2018USD ($)

Sep. 30, 2017USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2016USD ($)

Oct. 13, 2018USD ($)

Nov. 16, 2016$ / shares

Jan. 09, 2013ft²

Related Party Transaction [Line Items]

Related party transaction, due to related party

$ 42,935

$ 42,935

$ 200,000

Related party transaction, expenses from transactions with related party

42,935

Member of Board of Directors

Related Party Transaction [Line Items]

Legal fees

450,000

$ 400,000

$ 1,500,000

Accounts payable to related party

37,000

37,000

MacAndrews & Forbes

Related Party Transaction [Line Items]

Area of real estate property (in sq ft) | ft²

6,676

Rent expense, sublease rentals, net

$ 2,000,000

Rent expense, sublease rentals, estimate

2,400,000

Private Placement

Related Party Transaction [Line Items]

Payments of stock issuance costs

$ 1,764,240

1,764,240

Share price | $ / shares

$ 2.49

Common Stock | Private Placement

Related Party Transaction [Line Items]

Stock issued during period, shares, new issues | shares

708,530

Common Stock | Private Placement | MacAndrews & Forbes

Related Party Transaction [Line Items]

Stock issued during period, shares, new issues | shares

565,000

New HQ Lease | MacAndrews & Forbes

Related Party Transaction [Line Items]

Area of real estate property (in sq ft) | ft²

3,200

Monthly rental payments for initial period

$ 25,333

Monthly rental payments after initial period

29,333

Additional facility fee

$ 3,333

Facility fee annual increase, percent

5.00%

Facility fee after initial period

$ 0

Replacement M&F Sublease | MacAndrews & Forbes

Related Party Transaction [Line Items]

Monthly rental payments for initial period

36,996

Monthly rental payments after initial period

$ 37,831

Free rent period

2 months

Initial rent period

12 months

Monthly rental payments after secondary period

$ 38,665

Rent expense, sublease rentals

900,000

Old HQ Sublease

Related Party Transaction [Line Items]

Business exit costs

$ 1,100,000

Write down of leasehold improvements and furniture

100,000

Old HQ Sublease | MacAndrews & Forbes

Related Party Transaction [Line Items]

Monthly rental payments for initial period

60,000

Monthly rental payments after initial period

63,400

Rent discrepancy, sublease rentals

$ 1,100,000

Other Liabilities

Related Party Transaction [Line Items]

Lease termination liability

$ 200,000

$ 200,000

$ 500,000

Related Party Transactions - Re

Related Party Transactions - Related Party Activity (Details) - MacAndrews & Forbes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Beginning Balance	$ 815	$ 0
Charges	36	1,097
Cash payments	(341)	(282)
Lease Termination Liability	$ 510	$ 815

Reorganization (Details)

Reorganization (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reorganizations [Abstract]
Legal fees			$ 1,951,381
Professional fees			1,732,521
Trustee fees			33,000
Total	$ 0	$ 0	3,716,902
Reorganization payments			$ 4,600,000

Financial Information By Quar_3

Financial Information By Quarter (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information [Abstract]
Revenues	$ 1,569,000	$ 471,075,000	$ 2,661,000	$ 1,748,000	$ 1,412,000	$ 1,390,000	$ 4,265,000	$ 5,202,000
Cost of sales and supportive services	103,000	95,166,000	0	0					$ 95,268,974	$ 0	$ 0
Selling, general and administrative expense	3,828,000	3,115,000	2,880,000	3,057,000	3,281,000	3,094,000	3,058,000	2,870,000	12,879,738	12,303,050	13,713,635
Research and development expense	2,973,000	3,723,000	3,312,000	3,008,000	2,781,000	2,471,000	5,068,000	6,360,000	13,016,183	16,679,712	19,710,673
Patent expenses	207,000	186,000	178,000	218,000	221,000	251,000	197,000	241,000	789,489	909,946	909,376
Lease termination					0	1,225,000	0	0	0	1,225,421	0
Operating income (loss)	(5,541,000)	368,885,000	(3,710,000)	(4,535,000)	(4,871,000)	(5,651,000)	(4,059,000)	(4,269,000)	355,099,398	(18,849,169)	(31,014,956)
Net income (loss)	$ 52,391,000	$ 388,050,000	$ (7,051,000)	$ (11,582,000)	$ (10,303,000)	$ (9,816,000)	$ (7,501,000)	$ (8,615,000)	$ 421,807,828	$ (36,235,484)	$ (39,697,960)
Basic earnings (loss) per share	$ 0.65	$ 4.85	$ (0.09)	$ (0.15)	$ (0.46)				$ 0	$ (0.46)	$ (0.69)
Diluted earnings (loss) per share	$ 0.65	$ 4.71	$ (0.09)	$ (0.15)	(0.46)				$ 0	$ (0.46)	$ (0.69)
Basic and diluted earnings (loss) per share					$ (0.13)	$ (0.12)	$ (0.10)	$ (0.11)