SIGA (SIGA) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 19, 2024
Document Information [Line Items]
Entity Central Index Key	0001010086
Entity Registrant Name	Siga Technologies INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	0-23047
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3864870
Entity Address, Address Line One	31 East 62nd Street
Entity Address, Postal Zip Code	10065
Entity Address, City or Town	New York
Entity Address, State or Province	NY
City Area Code	212
Local Phone Number	672-9100
Title of 12(b) Security	common stock, $.0001 par value
Trading Symbol	SIGA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		71,122,516

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 143,868,648	$ 150,145,844
Accounts receivable	18,127,180	21,130,951
Inventory	63,721,788	64,218,337
Prepaid expenses and other current assets	2,174,993	3,496,028
Total current assets	227,892,609	238,991,160
Property, plant and equipment, net	1,193,237	1,331,708
Deferred tax asset, net	11,011,668	11,048,118
Goodwill	898,334	898,334
Other assets	2,149,482	2,083,535
Total assets	243,145,330	254,352,855
Current liabilities
Accounts payable	2,523,350	1,456,316
Accrued expenses and other current liabilities	6,122,929	10,181,810
Dividend Payable	42,673,509	0
Deferred IV TPOXX® revenue	20,788,720	20,788,720
Income tax payable	2,703,690	21,690,899
Total current liabilities	74,812,198	54,117,745
Other Liabilities	3,342,927	3,376,203
Total liabilities	78,155,125	57,493,948
Commitments and contingencies
Stockholders’ equity
Common stock ($.0001 par value, 600,000,000 shares authorized, 71,122,516 and 71,091,616, issued and outstanding at March 31, 2024 and December 31, 2023, respectively)	7,112	7,109
Additional paid-in capital	236,766,447	235,795,420
Accumulated deficit	(71,783,354)	(38,943,622)
Total stockholders’ equity	164,990,205	196,858,907
Total liabilities and stockholders’ equity	$ 243,145,330	$ 254,352,855

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	71,122,516	71,091,616
Common stock, shares outstanding (in shares)	71,122,516	71,091,616

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Total revenues	$ 25,429,855	$ 8,323,025
Operating expenses
Cost of sales and supportive services	3,225,314	1,150,187
Selling, general and administrative	7,875,773	4,235,108
Research and development	3,053,369	5,046,036
Total operating expenses	14,154,456	10,431,331
Operating income/(loss)	11,275,399	(2,108,306)
Other income, net	1,942,437	890,629
Income/(Loss) before income taxes	13,217,836	(1,217,677)
(Provision)/Benefit for income taxes	(2,940,496)	299,422
Net and comprehensive income/(loss)	$ 10,277,340	$ (918,255)
Basic income/(loss) per share (in dollars per share)	$ 0.14	$ (0.01)
Diluted income/(loss) per share (in dollars per share)	$ 0.14	$ (0.01)
Weighted average shares outstanding: basic (in shares)	71,093,653	72,197,038
Weighted average shares outstanding: diluted (in shares)	71,562,996	72,197,038
Product Sales and Supportive Services [Member]
Revenues
Total revenues	$ 23,878,677	$ 5,702,515
Research and Development [Member]
Revenues
Total revenues	$ 1,551,178	$ 2,620,510

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income/(loss)	$ 10,277,340	$ (918,255)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and other amortization	138,471	131,121
Stock-based compensation	1,130,010	408,730
Deferred income taxes, net	36,450	(483,425)
Changes in assets and liabilities:
Accounts receivable	3,003,771	33,090,256
Inventory	1,512,118	(3,304,697)
Prepaid expenses and other assets	239,518	(1,431,530)
Accounts payable, accrued expenses and other liabilities	(3,468,684)	(3,070,721)
Income tax payable	(18,987,210)	25,639
Net cash (used in)/provided by operating activities	(6,118,216)	24,447,118
Cash flows from investing activities:
Capital expenditures	0	0
Cash used in investing activities	0	0
Cash flows from financing activities:
Payment of employee tax obligations for common stock tendered	(158,980)	0
Repurchase of common stock	0	(7,557,057)
Cash used in financing activities	(158,980)	(7,557,057)
Net (decrease)/increase in cash and cash equivalents	(6,277,196)	16,890,061
Cash and cash equivalents at the beginning of period	150,145,844	98,790,622
Cash and cash equivalents at end of period	143,868,648	115,680,683
Supplemental disclosure of non-cash financing activities:
Issuance of common stock	$ 417,000	$ 0

Note 1 - Condensed Consolidated

Note 1 - Condensed Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Condensed Consolidated Financial Statements The financial statements of SIGA Technologies, Inc. (“we,” “our,” “us,” “SIGA” or the “Company”) are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission for quarterly reports on Form 10 December 31, 2023 2023 10 March 12, 2024 ( 2023 10 not 2023 10 2023 not three March 31, 2024 not

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers 606” March 31, 2024 Note 3 March 31, 2024 not four 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. Contract modifications may not The Company’s performance obligations are satisfied over time as work progresses or at a point in time. A portion of the Company's revenue is derived from long-term contracts that span multiple years. All of the Company’s revenue related to current research and development performance obligations is recognized over time, because the customer simultaneously receives and consumes the benefits provided by the services as the Company performs these services. The Company recognizes revenue related to these services based on the progress toward complete satisfaction of the performance obligation and measures this progress under an input method, which is based on the Company’s cost incurred relative to total estimated costs. Under this method, progress is measured based on the cost of resources consumed (i.e., cost of third third Contract Balances The timing of revenue recognition, billings and cash collections may March 31, 2024 three March 31, 2024 Recent Accounting Pronouncements In November 2023, No. 2023 07, 280 not December 15, 2023, December 15, 2024, no In December 2023, 2023 09, 2023 09 December 15, 2024, may not

Note 3 - Procurement Contracts

Note 3 - Procurement Contracts and Research Agreements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Procurement Contract and Research Agreements [Text Block]	3. 19C On September 10, 2018, October 2023, 19C March 31, 2024, "19C may ten 19C 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 10,000 courses (as currently defined within the contract as being 28 March 31, 2024 December 31, 2021, 2022, The options that have been exercised as of March 31, 2024 March 31, 2024 March 31, 2024 of oral TPOXX® to the Strategic Stockpile, of which approximately $15 million was delivered in the first 2024; million has been recorded as deferred revenue as of March 31, 2024 ; and has been cumulatively reimbursed Une xercised options specify potential payments up to approx ately not The options related to IV TPOXX® are divided into two may none 19C three three not two three two three may not 32,000 Revenues in connection with the 19C 19C three March 31, 2024 2023 three March 31, 2024 no three March 31, 2023 U.S. Department of Defense Procurement Contracts On May 12, 2022, #1" #1 second 2022, #1. third 2022, September 2022 On September 28, 2022, #2" #2 In March 2023, March 2023, #2 fourth 2023 In February 2024, #2 first 2024. International Procurement Contracts In the first 2024, seven 13 October 2022. first 2024. In addition to the above-mentioned orders and deliveries, the Company has a contract with the CDND under which the CDND has an option until December 31, 2025, April 2020 Under the International Promotion Agreement, Meridian is the counterparty in connection with international contracts for oral TPOXX® and SIGA is responsible for manufacture and delivery of any oral TPOXX® purchased thereunder. Under the terms of the International Promotion Agreement, which has an initial term that expires on May 31, 2024, not Sales to international customers pursuant to the International Promotion Agreement are invoiced and collected by Meridian, and such collections are remitted, less Meridian's fees, to the Company under a quarterly process specified in the International Promotion Agreement. The fee Meridian retains pursuant to the International Promotion Agreement is a specified percentage of the collected proceeds of sales of oral TPOXX®, net of certain expenses, for calendar years in which customer collected amounts net of such expenses are less than or equal to a specified threshold, and a higher specified percentage of such collected net proceeds for calendar years in which such net collected amounts exceed the specified threshold. On March 27, 2024, June 1, 2024. third May 31, 2026, no Revenue in connection with international procurement contracts for the delivery of product are recognized at a point in time on a gross basis, as the Company acts as the principal in the transaction. During the three March 31, 2024 three March 31, 2023 not Research Agreements and Grants In July 2019, December 31, 2023, no not three March 31, 2024 three March 31, 2023 Contracts and grants include, among other things, options that may may not may not

Note 4 - Inventory

Note 4 - Inventory	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. Inventory Inventory includes costs related to the manufacture of TPOXX®. Inventory consisted of the following: As of March 31, 2024 December 31, 2023 Raw materials $ 1,596,579 $ 8,061,800 Work in-process 57,886,954 53,649,859 Finished goods 4,238,255 2,506,678 Inventory $ 63,721,788 $ 64,218,337

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. Property, Plant and Equipment Property, plant and equipment consisted of the following: As of March 31, 2024 December 31, 2023 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 468,937 468,937 Furniture and fixtures 347,045 347,045 Operating lease right-of-use assets 3,678,647 3,678,647 6,914,657 6,914,657 Less – accumulated depreciation and amortization (5,721,420 ) (5,582,949 ) Property, plant and equipment, net $ 1,193,237 $ 1,331,708 Depreciation and amortization expense on property, plant, and equipment was $0.1 million for each of the three March 31, 2024 2023

Note 6 - Accrued Expenses and O

Note 6 - Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	6. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: As of March 31, 2024 December 31, 2023 Other 2,095,059 2,477,619 Compensation 1,368,907 2,974,863 Professional fees 1,068,513 445,653 Inventory 641,606 3,300,985 Lease liability, current portion 503,470 564,009 Research and development vendor costs 445,374 418,681 Accrued expenses and other current liabilities $ 6,122,929 $ 10,181,810

Note 7 - Fair Value of Financia

Note 7 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	7. Fair Value of Financial Instruments The carrying value of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities, and income tax payable approximates fair value due to the relatively short maturity of these instruments. Prior to being fully exercised, common stock warrants, which were classified as a liability, were 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 • Level 2 not • Level 3 third There were no three March 31, 2024 March 31, 2024 December 31, 2023 1 2 3 March 31, 2024 December 31, 2023

Note 8 - Per Share Data

Note 8 - Per Share Data	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	8. 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 loss per share computation: Three Months Ended March 31, 2024 2023 Net income/(loss) for basic earnings per share $ 10,277,340 $ (918,255 ) Weighted-average shares 71,093,653 72,197,038 Effect of potential common shares 469,343 — Weighted-average shares: diluted 71,562,996 72,197,038 Income/(loss) per share: basic $ 0.14 $ (0.01 ) Income/(loss) per share: diluted $ 0.14 $ (0.01 ) For the three March 31, 2024 not three March 31, 2024 three March 31, 2024 For the three March 31, 2023 Three Months Ended March 31, 2023 Stock options 209,623 Restricted stock units (1) 295,419 ( 1 three March 31, 2023

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. From time to time, we may not Purchase Commitments In the course of our business, the Company regularly enters into agreements with third not March 31, 2024

Note 10 - Related Party Transac

Note 10 - Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	10. Related Party Transactions Real Estate Leases On May 26, 2017, ten 31 62 nd first sixty-three first six first sixty-fourth first second five three March 31, 2024 2023 March 31, 2024 Board of Directors and Outside Consultant Effective June 13, 2023, three March 31, 2024 March 31, 2024

Note 11 - Revenues by Geographi

Note 11 - Revenues by Geographic Region	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	11. Revenues by Geographic Region Revenues by geographic region were as follows: Three Months Ended March 31, 2024 2023 United States $ 17,450,199 $ 8,323,025 International Canada 737,677 — Europe, Middle East and Africa (EMEA) 7,241,979 — Total International 7,979,656 — Total revenues $ 25,429,855 $ 8,323,025

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Taxes The Company’s provision for income taxes consists of federal and state taxes, as applicable, in amounts necessary to align the Company’s year-to-date tax provision with the effective rate that it expects to achieve for the full year. Each quarter the Company updates its estimate of the annual effective tax rate and records cumulative adjustments as necessary. For the three March 31, 2024 2023 The effective tax rate for the three March 31, 2024 three March 31, 2023 three March 31, 2024 21% 162 The Inflation Reduction Act of 2022 August 16, 2022. three $1 not Effective beginning in fiscal 2022, 2017 5 15 not

Note 13 - Equity

Note 13 - Equity	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Equity [Text Block]	13. The tables below present changes in stockholders' equity for the three March 31, 2024 2023 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2023 71,091,616 $ 7,109 $ 235,795,420 $ (38,943,622 ) $ — $ 196,858,907 Net income — — — 10,277,340 — 10,277,340 Issuance of common stock 30,900 3 (158,983 ) — — (158,980 ) Cash dividend ($0.60 per share) — — — (43,117,072 ) — (43,117,072 ) Stock-based compensation — — 1,130,010 — — 1,130,010 Balances at March 31, 2024 71,122,516 $ 7,112 $ 236,766,447 $ (71,783,354 ) $ — $ 164,990,205 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2022 72,675,190 $ 7,268 $ 233,957,767 $ (63,804,993 ) $ — $ 170,160,042 Net loss — — — (918,255 ) — (918,255 ) Repurchase of common stock (including excise tax) (1,139,922 ) (114 ) — (7,556,943 ) — (7,557,057 ) Stock-based compensation — — 408,730 — — 408,730 Balances at March 31, 2023 71,535,268 $ 7,154 $ 234,366,497 $ (72,280,191 ) $ — $ 162,093,460 On August 2, 2021, December 31, 2023. fourth 2021. three March 31, 2024 not three March 31, 2023 three March 31, 2023 On December 31, 2023, On March 12, 2024, April 11, 2024 March 26, 2024.

Note 14 - Leases

Note 14 - Leases - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Liabilities, Noncurrent [Abstract]
Other Liabilities	$ 3,342,927	$ 3,376,203
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	14. The Company leases its Corvallis, Oregon, facilities and office space under an operating lease, which was signed on November 3, 2017 January 1, 2018. December 31, 2019 two one two three second 2019, first December 31, 2021. second 2021, second December 31, 2024. second second 2021. On May 26, 2017, ten no Operating lease costs totaled $0.1 million for each of the three March 31, 2024 2023 three March 31, 2024 2023 March 31, 2024 Future cash flows under operating leases as of March 31, 2024 2024 $ 454,053 2025 406,994 2026 409,971 2027 165,916 Total undiscounted cash flows under leases 1,436,934 Less: Imputed interest (96,381 ) Present value of lease liabilities $ 1,340,553 As of March 31, 2024 Other liabilities

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	5. None 10b5 1 10b5 1 March 31, 2024 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers 606” March 31, 2024 Note 3 March 31, 2024 not four 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. Contract modifications may not The Company’s performance obligations are satisfied over time as work progresses or at a point in time. A portion of the Company's revenue is derived from long-term contracts that span multiple years. All of the Company’s revenue related to current research and development performance obligations is recognized over time, because the customer simultaneously receives and consumes the benefits provided by the services as the Company performs these services. The Company recognizes revenue related to these services based on the progress toward complete satisfaction of the performance obligation and measures this progress under an input method, which is based on the Company’s cost incurred relative to total estimated costs. Under this method, progress is measured based on the cost of resources consumed (i.e., cost of third third Contract Balances The timing of revenue recognition, billings and cash collections may March 31, 2024 three March 31, 2024
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In November 2023, No. 2023 07, 280 not December 15, 2023, December 15, 2024, no In December 2023, 2023 09, 2023 09 December 15, 2024, may not

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	As of March 31, 2024 December 31, 2023 Raw materials $ 1,596,579 $ 8,061,800 Work in-process 57,886,954 53,649,859 Finished goods 4,238,255 2,506,678 Inventory $ 63,721,788 $ 64,218,337

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of March 31, 2024 December 31, 2023 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 468,937 468,937 Furniture and fixtures 347,045 347,045 Operating lease right-of-use assets 3,678,647 3,678,647 6,914,657 6,914,657 Less – accumulated depreciation and amortization (5,721,420 ) (5,582,949 ) Property, plant and equipment, net $ 1,193,237 $ 1,331,708

Note 6 - Accrued Expenses and_2

Note 6 - Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	As of March 31, 2024 December 31, 2023 Other 2,095,059 2,477,619 Compensation 1,368,907 2,974,863 Professional fees 1,068,513 445,653 Inventory 641,606 3,300,985 Lease liability, current portion 503,470 564,009 Research and development vendor costs 445,374 418,681 Accrued expenses and other current liabilities $ 6,122,929 $ 10,181,810

Note 8 - Per Share Data (Tables

Note 8 - Per Share Data (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2024 2023 Net income/(loss) for basic earnings per share $ 10,277,340 $ (918,255 ) Weighted-average shares 71,093,653 72,197,038 Effect of potential common shares 469,343 — Weighted-average shares: diluted 71,562,996 72,197,038 Income/(loss) per share: basic $ 0.14 $ (0.01 ) Income/(loss) per share: diluted $ 0.14 $ (0.01 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, 2023 Stock options 209,623 Restricted stock units (1) 295,419

Note 11 - Revenues by Geograp_2

Note 11 - Revenues by Geographic Region (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended March 31, 2024 2023 United States $ 17,450,199 $ 8,323,025 International Canada 737,677 — Europe, Middle East and Africa (EMEA) 7,241,979 — Total International 7,979,656 — Total revenues $ 25,429,855 $ 8,323,025

Note 13 - Equity (Tables)

Note 13 - Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2023 71,091,616 $ 7,109 $ 235,795,420 $ (38,943,622 ) $ — $ 196,858,907 Net income — — — 10,277,340 — 10,277,340 Issuance of common stock 30,900 3 (158,983 ) — — (158,980 ) Cash dividend ($0.60 per share) — — — (43,117,072 ) — (43,117,072 ) Stock-based compensation — — 1,130,010 — — 1,130,010 Balances at March 31, 2024 71,122,516 $ 7,112 $ 236,766,447 $ (71,783,354 ) $ — $ 164,990,205 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2022 72,675,190 $ 7,268 $ 233,957,767 $ (63,804,993 ) $ — $ 170,160,042 Net loss — — — (918,255 ) — (918,255 ) Repurchase of common stock (including excise tax) (1,139,922 ) (114 ) — (7,556,943 ) — (7,557,057 ) Stock-based compensation — — 408,730 — — 408,730 Balances at March 31, 2023 71,535,268 $ 7,154 $ 234,366,497 $ (72,280,191 ) $ — $ 162,093,460

Note 14 - Leases (Tables)

Note 14 - Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	2024 $ 454,053 2025 406,994 2026 409,971 2027 165,916 Total undiscounted cash flows under leases 1,436,934 Less: Imputed interest (96,381 ) Present value of lease liabilities $ 1,340,553

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies 1 (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 68.7
Unbilled Receivables, Current	16.8
Contract with Customer, Liability, Revenue Recognized	$ 0.5
Research and Development [Member]
Revenue, Performance Obligation, Number of Obligations	4
Manufacture and Delivery [Member]
Revenue, Performance Obligation, Number of Obligations	4

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies 2 (Details Textual)	Mar. 31, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month)	24 months

Note 3 - Procurement Contract_2

Note 3 - Procurement Contracts and Research Agreements (Details Textual)				3 Months Ended				12 Months Ended	55 Months Ended	67 Months Ended
	Sep. 28, 2022 USD ($)	May 12, 2022 USD ($)	Sep. 10, 2018 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Feb. 29, 2024 USD ($)	Oct. 31, 2023	Dec. 31, 2021 USD ($)	Jul. 31, 2019 USD ($)
Contract with Customer, Liability, Revenue Recognized				$ 500,000
The 19C BARDA Contract [Member]
Number of Courses to Be Delivered			1,488,000									106,000
Number of Vials in a Course			14									28
Government Contract, Value of Award				602,500,000					$ 602,500,000	$ 602,500,000
Government Contract, Base Period, Value of Award for Delivery and Support Activities			$ 51,700,000	51,700,000					51,700,000	51,700,000
Government Contract Value Related To Exercised Options										407,100,000
Government Contract, Value, Payments Currently Specified as Unexercised Options				143,700,000						143,700,000
Base Period of Performance, Exercise of Options, Term (Year)			10 years
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Delivery of Courses			$ 11,100,000
Government Contract, Base Period, Number of Deliveries			35,700
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Manufacture of Courses			$ 8,000,000
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Advanced Development			32,000,000
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Supportive Procurement Activities			600,000
Proceeds from Delivery of Courses										$ 11,100,000
Number of Courses Delivered										35,700
Proceeds from Other Base Period Activities										$ 23
Government Contract, Value, Payments Remaining Related to Exercised Options										407,100,000
Government Contract, Value of Unexercised Options, Supportive Procurement Activities				5,600,000					5,600,000	5,600,000
The 19C BARDA Contract [Member] | Transferred over Time [Member]
Contract with Customer, Liability, Revenue Recognized				1,600,000	$ 1,600,000
The 19C BARDA Contract [Member] | Transferred at Point in Time [Member]
Contract with Customer, Liability, Revenue Recognized				14,700,000	0
The 19C BARDA Contract [Member] | IV TPOXX [Member]
Number of Courses to Be Delivered												10,000
Government Contract, Value, Payments Related to Exercised Options, Funding of Post-Marketing Activities				3,600,000					3,600,000	3,600,000
Government Contract, Value, Payments Related to Unexercised Options, Delivery of Courses				112,500,000					112,500,000	112,500,000
Government Contract, Value, Payments Related to Unexercised Options, Funding of Post-Marketing Activities				$ 10,200,000					$ 10,200,000	$ 10,200,000
Number of Manufacturing Steps				2					2	2
The 19C BARDA Contract [Member] | IV BDS [Member]
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Manufacture of Courses			$ 3,200,000
Proceeds from the Manufacture of Courses										$ 3,200,000
Proceeds from the Delivery of Courses										4,300,000
Contract with Customer, Liability, Total				$ 20,500,000					$ 20,500,000	$ 20,500,000			$ 3,200,000
Government Contract, Number of Options for Manufacture of Product				3					3	3
Government Contract, Courses Manufactured Upon Exercise of Options				32,000					32,000	32,000
The 19C BARDA Contract [Member] | IV FDP Containing IV BDS [Member]
Contract with Customer, Liability, Total				$ 20,500,000				$ 300,000	$ 20,500,000	$ 20,500,000
Contract with Customer, Liability, Revenue Recognized								$ 2,900,000
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses				$ 51,200,000					$ 51,200,000	$ 51,200,000
The 19C BARDA Contract [Member] | Oral TPOXX [Member]
Number of Courses to Be Delivered				1,100,000					1,100,000	1,100,000
Government Contract, Value, Payments Related to Exercised Options, Delivery of Courses				$ 337,700,000					$ 337,700,000	$ 337,700,000
Government Contract, Value, Payments Related to Exercised Options, Funding of Post-Marketing Activities				14,600,000					14,600,000	14,600,000
Government Contract, Total Amount of Exercised Options, Delivery of Materials				15,000,000					337,700,000
Proceeds from Payments Received for Post-marketing Activities				8,200,000
The 19C BARDA Contract [Member] | IV FDP [Member]
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses				$ 25,600,000					$ 25,600,000	$ 25,600,000
Government Contract, Number of Options for Manufacture of Product				3					3	3
Government Contract, Courses Manufactured Upon Exercise of Options				32,000					32,000	32,000
The 19C BARDA Contract [Member] | Maximum [Member]
Number of Courses to Be Delivered			212,000
IC BARDA [Member] | Transferred over Time [Member]
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses				$ 10,200,000					$ 10,200,000	$ 10,200,000
Government Contract, Value, Payments Related to Unexercised Options, Funding of Post-Marketing Activities				25,600,000					25,600,000	25,600,000
U.S. Department of Defense (“DoD”) [Member] | Oral TPOXX [Member]
Government Contract, Value, Payments Currently Specified as Unexercised Options	$ 5,500,000	$ 3,800,000
Contract with Customer, Liability, Revenue Recognized					5,100,000		$ 3,600,000
Government Contract, Value Ordered	$ 5,100,000	$ 3,600,000									$ 1,000,000
Government Contract, Value, Option Exercised					5,500,000	$ 3,800,000
International Procurement [Member] | Oral TPOXX [Member]
Government Contract, Value of Award				18,000,000					18,000,000	18,000,000
Government Contract, Value, Payments Currently Specified as Unexercised Options				6,700,000
Government Contract, Delivery of Material				7,000,000					7,000,000	7,000,000
International Procurement [Member] | Oral TPOXX [Member] | Scenario, Plan [Member]
Government Contract, Value of Award				14,000,000					14,000,000	14,000,000
International Procurement [Member] | Oral TPOXX [Member] | Transferred at Point in Time [Member]
Contract with Customer, Liability, Revenue Recognized				8,000,000	0
Canadian Contract [Member] | Meridian Medical Technologies [Member]
Government Contract, Delivery of Material				700,000					$ 700,000	$ 700,000
The PEP Label Expansion R & D Contract with the Department of Defense [Member]
Government Contract, Increased Value of Award														$ 27,000,000
The PEP Label Expansion R & D Contract with the Department of Defense [Member] | Transferred over Time [Member]
Contract with Customer, Liability, Revenue Recognized				$ 0	$ 1,400,000

Note 4 - Inventory - Inventory

Note 4 - Inventory - Inventory (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Raw materials	$ 1,596,579	$ 8,061,800
Work in-process	57,886,954	53,649,859
Finished goods	4,238,255	2,506,678
Inventory	$ 63,721,788	$ 64,218,337

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Depreciation, Depletion and Amortization	$ 138,471	$ 131,121

Note 5 - Property, Plant and _4

Note 5 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Property, plant and equipment, gross	$ 6,914,657	$ 6,914,657
Less – accumulated depreciation and amortization	(5,721,420)	(5,582,949)
Property, plant and equipment, net	1,193,237	1,331,708
Leasehold Improvements [Member]
Property, plant and equipment, gross	2,420,028	2,420,028
Computer Equipment [Member]
Property, plant and equipment, gross	468,937	468,937
Furniture and Fixtures [Member]
Property, plant and equipment, gross	347,045	347,045
Operating Lease Right of Use Assets [Member]
Property, plant and equipment, gross	$ 3,678,647	$ 3,678,647

Note 6 - Accrued Expenses - Acc

Note 6 - Accrued Expenses - Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current liabilities
Accrued expenses and other current liabilities	$ 6,122,929	$ 10,181,810
Other	2,095,059	2,477,619
Compensation	1,368,907	2,974,863
Professional fees	1,068,513	445,653
Inventory	$ 641,606	3,300,985
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities
Lease liability, current portion	$ 503,470	564,009
Research and development vendor costs	445,374	418,681
Accrued expenses and other current liabilities	$ 6,122,929	$ 10,181,810

Note 7 - Fair Value of Financ_2

Note 7 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	$ 96,300	$ 95,100
Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	$ 0	$ 0

Note 8 - Per Share Data (Detail

Note 8 - Per Share Data (Details Textual) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restricted Stock Units RSU Settled in Cash [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	59,312	30,702

Note 8 - Per Share Data - Recon

Note 8 - Per Share Data - Reconciliation of the Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income/(loss)	$ 10,277,340	$ (918,255)
Weighted-average shares (in shares)	71,093,653	72,197,038
Effect of potential common shares (in shares)	469,343	0
Weighted-average shares: diluted (in shares)	71,562,996	72,197,038
Income/(loss) per share: basic (in dollars per share)	$ 0.14	$ (0.01)
Income/(loss) per share: diluted (in dollars per share)	$ 0.14	$ (0.01)

Note 8 - Per Share Data - Antid

Note 8 - Per Share Data - Antidilutive Securities Excluded from Computation (Details)	3 Months Ended
	Mar. 31, 2023 shares
Share-Based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	209,623
Restricted Stock Units (RSUs) [Member]
Antidilutive securities (in shares)	295,419	[1]
[1]For the three months ended March 31, 2023, the total includes a weighted average of 30,702 units which were settled in cash.

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Details Textual) $ in Millions	Mar. 31, 2024 USD ($)
Purchase Commitment, Remaining Minimum Amount Committed	$ 13.6

Note 10 - Related Party Trans_2

Note 10 - Related Party Transactions (Details Textual)		3 Months Ended
	May 26, 2017 USD ($) ft²	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Director [Member]
Accounts Payable and Accrued Liabilities		$ 0
Consulting Agreement, Monthly Fee		20,000
Consulting Expense		60,000
MacAndrews and Forbes Incorporated [Member] | The New HQ Lease [Member]
Area of Real Estate Property (Square Foot) | ft²	3,200
Monthly Rent During Initial Period	$ 25,333
Monthly Rent, Initial Period (Month)	63 months
Monthly Rent After Initial Period	$ 29,333
Monthly Facility Fee, Second Year	$ 3,333
Monthly Facility Fee, Yearly Rate Increase After Second Year	5%
Monthly Facility Fee, Final Year	$ 4,925
Operating Lease, Expense		100,000	$ 100,000
Accounts Payable and Accrued Liabilities		$ 0

Note 11 - Revenues by Geograp_3

Note 11 - Revenues by Geographic Region - Revenues by Geographic Region (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Total revenues	$ 25,429,855	$ 8,323,025
UNITED STATES
Total revenues	17,450,199	8,323,025
CANADA
Total revenues	737,677	0
EMEA [Member]
Total revenues	7,241,979	0
Non-US [Member]
Total revenues	$ 7,979,656	$ 0

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income (Loss) Attributable to Parent, before Tax	$ 13,200,000	$ (1,200,000)
Income Tax Expense (Benefit)	$ 2,940,496	$ (299,422)
Effective Income Tax Rate Reconciliation, Percent	22.20%	24.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%

Note 13 - Equity (Details Textu

Note 13 - Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended
	Mar. 12, 2024	Mar. 31, 2024	Mar. 31, 2023	Aug. 02, 2021
Stock Repurchase Program, Authorized Amount				$ 50
Stock Repurchased During Period, Shares (in shares)		0	1,100
Stock Repurchased During Period, Value, Gross			$ 7.5
Excise Tax on Corporate Shares Repurchased			$ 0.1
Special Dividend [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.6
Dividends	$ 43

Note 13 - Equity - Changes in S

Note 13 - Equity - Changes in Stockholders' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Balances	$ 196,858,907	$ 170,160,042
Net income/(loss)	10,277,340	(918,255)
Issuance of common stock	(158,980)
Cash dividend	(43,117,072)
Stock-based compensation	$ 1,130,010	$ 408,730
Repurchase of common stock (including excise tax) (in shares)	0	(1,100,000)
Repurchase of common stock (including excise tax)		$ (7,557,057)
Balances	$ 164,990,205	$ 162,093,460
Common Stock [Member]
Balances (in shares)	71,091,616	72,675,190
Balances	$ 7,109	$ 7,268
Net income/(loss)	$ 0	0
Issuance of common stock (in shares)	30,900
Issuance of common stock	$ 3
Cash dividend	0
Stock-based compensation	$ 0	$ 0
Repurchase of common stock (including excise tax) (in shares)		(1,139,922)
Repurchase of common stock (including excise tax)		$ (114)
Balances (in shares)	71,122,516	71,535,268
Balances	$ 7,112	$ 7,154
Additional Paid-in Capital [Member]
Balances	235,795,420	233,957,767
Net income/(loss)	0	0
Issuance of common stock	(158,983)
Cash dividend	0
Stock-based compensation	1,130,010	408,730
Repurchase of common stock (including excise tax)		0
Balances	236,766,447	234,366,497
Retained Earnings [Member]
Balances	(38,943,622)	(63,804,993)
Net income/(loss)	10,277,340	(918,255)
Issuance of common stock	0
Cash dividend	(43,117,072)
Stock-based compensation	0	0
Repurchase of common stock (including excise tax)		(7,556,943)
Balances	(71,783,354)	(72,280,191)
AOCI Attributable to Parent [Member]
Balances	0	0
Net income/(loss)	0	0
Issuance of common stock	0
Cash dividend	0
Stock-based compensation	0	0
Repurchase of common stock (including excise tax)		0
Balances	$ 0	$ 0

Note 14 - Leases (Details Textu

Note 14 - Leases (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2019	Dec. 31, 2023 USD ($)	May 26, 2017 ft²
Liabilities, Noncurrent [Abstract]
Other Liabilities	$ 3,342,927			$ 3,376,203
Operating Lease, Cost	100,000
Operating Lease, Payments	$ 200,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	2 years 8 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	4.53%
Operating Lease, Liability, Noncurrent	$ 800,000
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities
Facilities and Office Space in Corvallis Oregon [Member]
Lessee, Operating Lease, Number of Renewal Options			2
Two Years, Option Renewal Term [Member] | Facilities and Office Space in Corvallis Oregon [Member]
Lessee, Operating Lease, Renewal Term (Year)			2 years
Three Years, Option RenewalTerm [Member] | Facilities and Office Space in Corvallis Oregon [Member]
Lessee, Operating Lease, Renewal Term (Year)			3 years
Increase (Decrease) in Operating Right-of-use Assets		$ 700,000
The New HQ Lease [Member] | MacAndrews and Forbes Incorporated [Member]
Lessee, Operating Lease, Term of Contract (Year)					10 years
Area of Real Estate Property (Square Foot) | ft²					3,200

Note 14 - Leases - Future Undis

Note 14 - Leases - Future Undiscounted Cash Flows Under Operating Leases (Details)	Mar. 31, 2024 USD ($)
2024	$ 454,053
2025	406,994
2026	409,971
2027	165,916
Total undiscounted cash flows under leases	1,436,934
Less: Imputed interest	(96,381)
Present value of lease liabilities	$ 1,340,553