SIGA - Earnings call transcript Q1 2020

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Welcome to the SIGA business update call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note this conference is being recorded.

observations call statements SIGA are could made management's expectations the that please based cause turn to current forward-looking subject differ any during and forward-looking actual we results over uncertainties from Management, to note on risks to Before and are the that statements. and this call

for the limitation, report XX, conference Executive a December of now X-K. ended factors and reports Chief differ, Form company's the on see XXXX the discussion that SIGA. the Securities to annual For filings Commission Exchange the subsequent XX-K year without including, I and Form over turn Form Gomez, please of its on could to Phil XX-Q cause company's and with Officer will results

begin. may You

Phillip L. Gomez

call. to taking our time prophylaxis R&D our to this BARDA joined and regulatory you update I'm join in TPOXX for our for providing the update an for pleased today's Hruby, provide Dr. business Dan Dan On Dennis Thank We're have to by Officer. Today, this Luckshire, from call, results, provide CFO update. will orders. opportunity our be a orders Scientific other targeted TPOXX. will the recent military an on post-exposure financial to Chief TPOXX, then expectations Canadian Dennis activities, related and and QX these program submissions of for

can us to both provide pandemic on how of The contagious the to human live, COVID-XX Luckshire, COVID-XX pandemic business. has how economy. update over our would to hand disease an highly we call a global and reminded like lives, I and Dan of our the infectious Before the CFO, SIGA devastating be on the impact all of I

who by control. pandemic to many develop so government, devastating impacted have in this working around bring with disease globe the here this tirelessly under in help are the the dramatically with U.S. and tools New are partners to York and our thoughts been Our that

so it prepare more of Zika a next faced than and MERS, is we Even SARS, pandemics we but if, must not be question like may for it as Ebola, us one. that reminds the with as prior when outbreaks nation a

also As out pandemic Gates we in smallpox could COVID-XX transmissibility. like critical would are and face, infection is discussion, reaction most rate health to Tools of to and economies. and fortunate are recent pointed the the higher down can a only televised and that many not including but treatments XX% mitigating we shut the destructive a likely more vaccines be Bill fatality have deadly impact as of with not fear even infection, decimate

this As globally will believe see a preparedness including result on renewed of smallpox. focus we pandemic, we

any SIGA, in Operationally, not we respect by fortunately at pandemic. been the material have impacted adversely

remotely of work as closing to of the All have able York from perform for local all to employees majority personnel. their guidance essential are we distancing New and offices but Oregon followed and our social

Our have for supply remotely to risk our staff TPOXX partners manufacture continues and as our reduce SIGA at their infection practices operate with implemented to overseeing policies chain facilities.

deliveries we under have materially to not to Needless impacted. for will the line time BARDA say, situation manufacturing the our Currently, monitor contract closely. continue been

protect potential that trial by must clinical do sites, those welfare adjustments For made of upon required the to their subjects, we as commitments such and based for delays pandemic that oral FDA our approval clinical safety COVID-XX partners. TPOXX, trials programs post-marketing the anticipate be have and to due

somewhat government was programs responses. TPOXX Canadian were focus pandemic. to not Financially, our from the and COVID-XX likely adversely due orders although staff results and we expected, the on BARDA for and expectations The recently been issued of military by the the impacted timing have delayed the on terms

operations and CARES the We any cash for received or Act have for key have under initiatives. funding applied sufficient not and

to continue part government monitor of to all closely multiple our SIGA impact any U.S. pandemic-related contracts. as the will if We determine may legislation

emphasize our opportunities arise uncertainties we would and for the focus and given I preparedness. the are given point to to One financial health and of is to like that well that pandemic the expect need to positioned pursue strength security discipline, heightened on weather the we

as do On organizations would of governments organizations outbreak the usually the the TPOXX COVID-XX. anticipate discussions international on front, that that will responding we delay to sale buy near-term the with are international same TPOXX are the

will international discussions, preparedness, additional raise for immediate importance of pandemic a smallpox awareness driver will Although highlight believe be we it the in long sales. and term, ultimately is delaying for and the the

examine Finally, also government expands the our U.S. COVID-XX response to its to new business grow opportunities to continuing we are as the pandemic.

at said financial update. call As platform where partnership they to SIGA platform products over ways Dan assets the government development I'll have for and in bring opportunistically we look our have of on stockpiling previously, be the at strong point, with we'll for a At to to this turn U.S. accretive. and we could

Daniel J. Luckshire

Phil. Thanks

For cash quarter and market Subsequent in loan the year-end from term the repayment retired diluted share cash transactions. such calculation includes term was research per first of The year. reflects March common primarily the $X.XX. approximately with ended approximately to million share of balance operating repurchased this the loan, as equivalents. the of year-end of with term for quarter items repayment to the warrants, value million, loans, development Pretax SIGA of from stock mostly in equivalents $X the approximately connection XXXX, its in approximately $X of cash with We and revenue fair in adjustments connection $X.X per loss open and of loss was or $XX the and the in million costs million quarter change for activities. taxes. a SIGA's of and cash there's benefit the The recently income

made After announcements. important two quarter end, company in the April,

First, it National representing order the the that of first Department international TPOXX. announced for awarded contract the Defense Canadian oral

Defense the contract was Canadian delivery announced This $XXX of value to million. minor equates Contract CDND XXC TPOXX approximately Department courses for exercised up it Military course, National Canadian had approximately TPOXX. award, plus procurement purchase the the oral or of for of to $XX.X years a the oral ancillary of Second, XXX,XXX to options four of that will XX,XXX courses With respect over BARDA costs. total under per

Under purchases expected of there occur $X.X option of X,XXX These courses oral courses of is in purchase be CDND, initial this the regulatory of approval after an are for Canadian contract, TPOXX at the and remaining to are million. quarter second in contract year. are delivered to The the under the the expected Canada.

TPOXX. was and coordinated delivery the the Agreement. a the Meridian As existing Technologies, between contract to counterparty contract, International for of is SIGA The under Meridian award SIGA oral reminder, is responsible Inc. and manufacture Medical Promotion and

activities, the prophylaxis the Hruby, Chief regulatory start this submissions financial who targeted section in will investor of to U.S. quarter BARDA government. Consistent with by will our year. March, complete deliver turn of expect postexposure this program with to to last Scientific expectations regard XXC call. With our exercise these TPOXX, of approximately I over the government we XXXX, deliveries options XXX,XXX oral the a BARDA of will R&D of Officer, courses our in approximately $XXX and the This value contract, April point, communicated under SIGA call with to for courses At the million U.S. procurement call Dennis second TPOXX, to other the of discuss TPOXX. for to in concludes delivery the

Dennis E. Hruby

appreciate you, a SIGA's to activities. Thank updating ongoing spend I Dan. on development you regulatory this some minutes opportunity few and of

Let me start prophylaxis by for or post PEP exposure discussing oral TPOXX.

even symptomatic patients be oral approved contract Defense, filing end, greatest of for the modeling expanded that with morbidity have would with XXXX TPOXX to Chemical, smallpox. Due on it consortium and studies for for prophylaxis. than Program post have the Defense regulatory in greater to an for CBRN of being therapeutic use Office To mortality COVID-XX, Biological, for from in which through exposure that Radiological, challenges impact and would background, Executive necessary prolonged a others indicated PEP is Nuclear the incubation experienced by we reducing support period defense received smallpox us the Joint was TPOXX has and to the use As medical currently indication. the that Department human

an FDA approval. we PEP dialogue a We've have for map already road with had the achievable and believe

We of are test smallpox an immune how to opportunity. exciting vaccine clinical protective acquisition a work for together co-administration a with might TPOXX affect study of human currently response. represents planning The PEP

to PEP, there's TPOXX. in other addition work connection In with oral ongoing

we're with accomplishing making our with excellent background, supported tasked score, toward As the BARDA. FDA's in we four XXXX, were are progress post-marketing which this On contract tasks. these with approval commitments by

analyzing First, protocol deployed study smallpox we've for data used in event a established collecting patients. as is field TPOXX and and the

containing ribovirus been and All were the has drug our submitted colleagues their variants have at target completed be Control, TPOXX the untested the and the on The to Centers drug. strains we for for the additional sensitive testing report of review. FDA final previously sensitivity sequencing Second, to of variants found to protein. Disease genome

early exercised With this the an drink BARDA conducted dosing the demonstrating This that XX from hold agreed is COVID-XX mind, a believe We of expand that kilograms, an can formulation wane funded the we've food on interactions. FDA in-vitro in current NDA medical program by fully patients analysis on resume. is been a have year. poised pandemic through concurrence alternate a the use. analysis the for capsule completed FDA and for option under clinical is reconstitution for trial stages mixing on Third, has of was this powder to We're this for drug-drug after developing that with not adequate trials needed. has now study potential we're clinical TPOXX and until in and proposed or earlier pediatric Fourth, this ingredients protocol. into course safely through the

regulatory also front. on clinical very busy Beyond we're the work,

First, Agency, we're the European EMA. the authorization Medicines MAA, preparing application, marketing submission a for

half application under exceptional up XXXX. a any shortly. barring pre-submission the review have we meeting We the pathway in completed unforeseen for circumstances coming anticipate And of second submitting circumstances, the

application Second, for of extraordinary use an we're submission new EU&D Health drug, Canada. to preparing

completed QX to XXXX. early We pre-submission our application and as have the on are as meeting track executed submit

broader and vaccinia, all and are which the cowpox granted, use monkeypox in periodic these cowpox, Of MAA will and TPOXX Europe this orthopoxvirus against particular, both the indication EMA, endemic monkeypox note, respectively. variola. allow infected human have agents, and seeking in pathogens, the treat with Canada, Africa, for outbreaks If patients Health EU&D to a

the the with for finish towards finally, formulation line pushing and the we IV submission NDA of are TPOXX. Third

received and medical IV filing XXXX. plan We meeting our feedback. CMC the late pre-NDA in pre-NDA file on We have NDA already

COVID work on substantive pandemic time feedback to any the or line we that have like We've meetings teleconferences to development agencies. seen had impact programs. not date our written face-to-face progress the moved that we to way the continue to we need correspondences. receiving I'd But has note impacted regulatory or several with to

working diseases. are and and additional towards expanding SIGA emerging So and the use to in approval eventual of hard gain at summary, you, for the indications its Thanks Phil. against new for allow orthopoxvirus biodefense infectious to in formulations your utility and Back R&D attention. to for group TPOXX acquisition in jurisdictions

Phillip L. Gomez

Thanks, Dennis.

that clinical trials. As is year, I may impact, COVID-XX anticipate We mentioned study we given our plan in ongoing discussion impact push PEP but out one we this my that infections. have of initiate potential to the area COVID-XX to

discussed In expect materially we potential Fortunately, PEP would PEP other government for U.S. have would expansion trials not clinical approval indication. stockpiling. prior the to stockpile as regarding discussions expanded alter make with able for government delays be we by incremental the previously, to purchases to FDA in label words, an temporary U.S. the

Delivery drive to to TPOXX, continue our starting Canadian deliveries will million a leveraging operating delivery our supporting TPOXX through sales our and $XXX on initial April and front courses collaborations order military, XXXX, we with to new capabilities for for for with of oncology summary, label oral for international of U.S. quarter by approximately government this value seeking the Meridian, orthopoxviruses, value the of other shareholders XXXX. ongoing In of of formulations expanding for X,XXX-course with expansions products. TPOXX additional approval PEP pursuit and and the

value efficient strategic to operations, creation capital continue disciplined management, and we initiatives. Additionally, pursue through will

prepared preparedness security our strategic capabilities front, government's expertise the the we create SIGA, government health given will public working focus the now and and begin This preparedness. believe to On session. our the health on for heightened attractive potential has extensive investment with opportunities the concludes that Q&A remarks, we on

Operator

from with first Instructions]. question [Operator Raymond Joaquin you. Thank James. Horton proceed. our is Please And

Joaquin Horton

guys. afternoon Good

Phillip L. Gomez

Joaquin. Good afternoon

Joaquin Horton

what, a three have exercise you understanding of that Okay, exercise on I the is that my just got. XXC it's And tranches contract? on contract this there question the more on

Phillip L. Gomez

correct. That's

Joaquin Horton

we're of exercised? correct. time to to or the will finished the That's before And that, next be six period we next or next will the will because three will months seamless seems one exercise April, is option okay, have a it you wait or wait months have but

Phillip L. Gomez

appreciate thanks that. So question. I for the Joaquin,

So be know, options the way you how they have to the part, Historically, exercised to be be most of if to exercised the would company And structured, exercised for seems product a as you our supply the which have when monitoring is we've series options contracts. stockpile. been when these look at there's contracts to funding. allowed been on the other scheduled the pretty option to close

they've I options think takes to stockpile, historically we've to to to advance the also and well most routinely. our so the exercise be few stakeholders people limited planning exercised. do as advance, have and we're they've know, by able quite funding to certainly would to said annual them had fairly prefer can a in communicated their us able government, been Having it to so have ready that, and and when make options in we the be TPOXX, assurance exercised months we to deliver

to So focus with have of like preparedness, an would we to really I'd exercise think sooner close we see assurance than the but don't on deliveries, options pandemic that. increased

tranche the everyone monitor probably I Joaquin. be options when next as on this expect, but but certainly this another And will continue would that government we'll other Thank I of around have we discussions it see said, time continue we'll to option, investor we you, of having suspect to in, our to would next we but base. So April year we'll we'll year. option product with through continuing, keep come finish be that posted deliver

Joaquin Horton

ask I Can one? another

Phillip L. Gomez

you how Joaquin? give we'll more, one Maybe is that,

Joaquin Horton

I that. appreciate

responders front lines. on one, of first Just current are huh? the because with our Okay, the pandemic COVID-XX,

And happen if first we would so our outbreak, a protect was would responders? what there smallpox how

Phillip L. Gomez

great countermeasures population are most on a when think are not question during very a deployed, infectious at it's and the prophylaxis detected key that it's post perfect hit risk so agent is is you've an I example why of So and a pandemic a and exposure critical.

is the outbreak event our out drug product the able get So U.S. circumstance, plans to current of to stockpiled in and of they be the that impacted. have an and first the to by course might those to deploy in to be responders government

So plans be, certainly, and in first the foremost government's would doing that.

think is size to rely a though broad states more the which stockpile? to some the right with I there's current and pandemic, stockpile will community. can I forward that perhaps responders unfortunately, you're and and think responder the alluding question responders jurisdictions is, first the local on in think I probably have products say, and first probably opportunities improve that especially first in And system deployed

able of that been with product we've of be So the world might has the I and that looking recognition And how at the changed think future. certainly, take advantage that. like folks to we to provide in

a very and question be to pandemic a this going one learned point. really that important excellent in it's think from So the is lessons I

Joaquin Horton

Thank you.

Phillip L. Gomez

Joaquin. Thank you very much

Operator

question Chris Hedge Thompson from proceed. Our Capital. with Please next is

Paul Saunders

Paul line. on very exercise, Thanks the helpful. these really Chris' is options doing calls. on much This And Saunders for They're congrats exciting. that's guys. Hey

noticed Just like that, of inventory. question a kind option is housekeeping sheet, on that it in the a good looks of a portion already balance manufactured in I

to way And there I the going so kind time said XXXX. of chosen all or mean, is delivery stockpile, BARDA's at April accelerate any of terms you that the to is into just cadence line? in that

Phillip L. Gomez

interest the variety thanks a question. our put Hey delivery things. of It's able of in production function schedule about expiry it we in take appreciate schedule ultimately the and schedule, then And and call a the stockpile being much in is so talked function of of a our taking it, sites BARDA's is is the and last it the Paul, function a our I as function that. in a for of have filings, products. to

could items. on move the schedule is Whether BARDA the based So there. I we've we schedule that's to these overall that all that have able might the that But worked because that described. we've given move factors guidance here how it to with around, and be

Paul Saunders

-- personally things that's additional surprised preparedness, great to kind see a indication do more an on an sort of how pandemic granted that for million focus you. just to of the that are moving on quickly at you the faster is the one I if that was guys right mean, possibility separately mentioned, that, it see just then your also, with and unrelated that with saw $XX is now? funded kind to of side accelerated DoD you due and RFP the they just there for was okay. PEP Okay, the to -- you as I I'm did I they've funding.

Phillip L. Gomez

recognize we'll be magnitude not the cost of impact we of things many I have the know and I being there cost have is one see But were drivers orders economic stockpiles extent, continue that prepared think that to people Yes, Dennis on out harder as the we're to of repair. from can funding to last it and started the we points so have the seen, to the and always that limited, that so above right COVID-XX to we But government. focus we to PEP study. were question will everyone on are with talk right your have focused in couple going on overall on very call, certainly leadership a very to feedback turn the is a Those And with over preparedness, then pleased are I that of now. some discussions PEP. we've vaccine to the think now, talked U.S. think about colored one constraints. and many, I answer of the key FDA, of just And

with do we increasing has think funding I'd opportunity it are we're response. so run, long now very DoD certainly people be because that focused there's them. closely in We preparedness. those having right discussions But to work COVID-XX not found And that be to the DoD, the this. appropriate of are those would on including say -- So we pleased many for

over the talk about hand PEP steps maybe just to I'll So and Dennis. it that. to Dennis, program next on

Dennis E. Hruby

now advocate In with we this has that real the pleased this is prophylaxis, the conversations very post DoD FDA, same always and safety. been CMC, The supporting are they in the time. exposure our Yeah. same too, an for drug, same are

we all are that plus in -- So required. FDA really, studies more animal no fact, is The efficacy to show minus has, we need vaccine. agreed or

So we're it hard forward. protocol with this up now come working DoD and to move with

So that, be in for purpose. fact, if drug acquired could approved, the that

Paul Saunders

Dennis. Thanks

Operator

[Operator Instructions].

next question Our is Teddy private from investor. Green, proceed. Please

Unidentified Analyst

is with directed and company option guys for the it's for to be you congrats on Hi first exercise from contract. A think four I revenue at This Dan, parts, we And purchase the might XXXX the about the the the API. where CLIN recognition are first which Dan. of question had XXC Part and

but BARDA A so The I first of the receive to that CLIN Part for was, know far? the you I option ask money wanted thing XXXX that did from was exercised,

Daniel J. Luckshire

we will income on recorded is revenue What the product, revenue see the revenue deferred balance because we statement. options product with delivery. be in It as recorded you'll as sheet as deferred Yes, the into amount. the receive that is did the deliver other connected it's

Unidentified Analyst

when point option is then and when Parts you of for you a you'll the great. be each revenue that and three to to deliver that's Okay then are the recognize in time first product, B, revenue, recognize going And actually C exercise? -- the parts for going D,

Daniel J. Luckshire

revenues deliver. correct. product, come it you're deliver will we And as across we as as Yes,

Unidentified Analyst

thank similar quantify could be rate the Okay, for the you XXXX, SG&A to XXXX? run it And great, will you. then

Daniel J. Luckshire

our performing happened that we offsets is, Right, do to then part, some one benefit to from we related XXXX to What XXXX. way and contracts. so we is and have on in have the offset did XXXX our development prior-year's about expenses, have heightened think

slightly that, the expenses operating was believe, prior. than So the million. net so I that $XX less run rate prior the in closer to essence, were Years years to more than lower

series same the So of rate. over slightly do was that We had the XXXX than we've run infrastructure think had I years. the lower past

or I look at that. sort the it the average probably take you so at look So years is of way really really accurate and think get to an wait three past as more really of look to than XXXX the XXXX as trend to XXXX XXXX. over And

Unidentified Analyst

have Okay, more one great, thanks question for for Phil. that. And I

from the option SNS? or first that fund BioShield was The exercise, from

Phillip L. Gomez

a many from be of was approval BARDA it work post-approval strategic that that a can movement products we done the have BARDA contract, funded BARDA. there of BARDA. kind are that. bucket behind So But stockpile soon FDA by dollars Historically, but and are the after pre-FDA SNS there orders typically on products scenes, out order and of of been like approval together and in kind an national get are ours

them We So under to have expect the FDA approved before to the executed. it's place will fully term, that and a get certainly would long that we work a working the supply we'll on options well be we establish this BARDA with SNS to contract with to be contract. And in continue contract products. in

Unidentified Analyst

XXXX. I and SNS because for just being funds ASPR, fiscal year, there's products a lines did product follow-up one one aware to in various smallpox SNS from projected said yes, transition and you expense then just And an antiviral of that of that estimate once see of of costs year transitioned I'm view funds. obviously, this BioShield's the XXXX product with point FDA-approved, from to and moving what I million the had BioShield to is earlier for from of Okay, SNS the have $XXX

looking as should that are to what at? company a how you we So at look compared

Phillip L. Gomez

in And is a put of that is informal BARDA, thing estimate. entirely of not items by enterprise So nice that President's a SNS, I about kind by estimate estimate multiyear that's that an by variety it's there. of a limited referring, overall The think you're budget. folks there's document prepared called the the budget kind

think something the judgment at the but any behind on what's details into bit that It it. it closer a go of a won't to it lot and changes issues has it. kind going budget, of so President have puts the fall budget. This is and numbers it a professional of there's on a lot, changed all of I takes I and when called would details as typically, that the not under of everyone year-to-year, So is and guide, and things a to

I think said have have previously what to We that we important I go XXXX. the XXXX It through this we XXXX. between and expect entire is, most guidance. cycle. product And this expires on would have there delivered supports it's we that think delivered and XXXX, would to but for aggregate, here from view is the certainly on expiring exact materials. that will an And the we multiyear budget year-to-year, from it change guidance

So I question. the appreciate

Unidentified Analyst

that mean, like expect too. Yeah. with action confidence that seeing to steady And you that from said XXXX. I a coming should exercising XXXX pretty of we agree me from it options ASPR the gives I

So, had, okay again great. That's luck thanks all I guys. good and

Phillip L. Gomez

Thanks much Teddy. so

Operator

Please Capital. follow-up with Hutch Saunders We from a do Paul proceed. have

Paul Saunders

ask any hop Yes, queue, I to in just Dennis didn't wanted to a the guys. questions. Thanks get chance

that, I just sort working you the wanted heard on ask that expound maybe that was kind clarify you or with clarify you of upon kind wanted thought are other to were you and I working correctly viruses to with heard CDC I So just that of of mentioned, of I things could I types on? TPOXX's hoping, what potential if Dennis, I

Dennis E. Hruby

to our likely the Russia spots the labs. and variola at one, you additional was of two only had we important what this Well, heard work number be in there's on know, drug BSLX against commitment the efficacy And but CDC post-marketing that world variants. we're where working as areas, test a you most can the in a done, of

relationship, that able the those we enough and long-standing fortunate and are we to we execute were have working -- so And experiments hope, the we complete a requirement.

to We with the able some in more we're other side position that on earlier I'm collaboratively them. research those discuss working a now. stage to not have right they're experiments, be

Paul Saunders

interesting. very Okay,

that's Okay, Thanks. it.

Operator

We with James. a from follow-up proceed. also Joaquin Raymond Please have Horton

Joaquin Horton

will that your question. free use would you years? quick a you next How have flow cash the over Just five

Phillip L. Gomez

you know for thanks Joaquin, in. glad appreciate follow-up back I questions, Hey the I'm off back two in. I you cut I getting and so at you got

terms our in about long-term think talked in our shareholders. value we allocation As capital of remarks, creation about with we

which those we us we So program. sheet to with allocation. work think active And I look to for at cash the to to all in be what's best have buyback We opportunistically the have and pleased an be the gives capital do management on importantly, our a do options look at available. for strong closely and table, most utilization where look we're a strength share very able at board position our balance and we team

With the outbreak we'll right creation think look go now, we that value to at but I to monitor continue it's that, important we forward. as continue that

Joaquin. thanks, So

Joaquin Horton

Alright, thank you.

Phillip L. Gomez

join. we questions -- just from operator, have couple to able have, did a did I of that in came weren't folks that

likely the accelerate outbreak, for of is was, we're really about thing advantage bit the monitoring with though a said, there and we And -- the one new that also was, their under think have we our the is the take then They've development. FDA whether one a I to already. questions been of PEP question talked start little that little drugs to try just ways what want COVID-XX reiterate, the procurement one be to could questions pushed preparedness, the in talk of FDA is of answered Dennis to and we've around of clinical in we but option development that pace already, that. this -- seen to is, good with One studies exercises? there us processes development. anything with think expedite streamlined have about. with might the the continue as PEP the to And about bit plan And I in that PEP. But on talked short And thinking the don't I the both about. I refocus government very And closely out term, was, I is be I

get I accelerate have or year things they do budget the start are exercised the out be one that allows to I each to option the the to mechanism willing to accelerate options would them stockpile. point as were point to wanted for also would that out But whatever reason But that it. BARDA is thing into we it

So certainly, it. for we're between opportunities a working think But people several plan, as to reasons. do increasing pointed they it. anticipate we with I them variety we'll them out, we'll constantly 'XX, of look accelerate for and about do but to monitor multiyear to and have replenishment encourage preparedness and continue 'XX And a think

Operator

Please We Equis do have proceed. one question left from Group. Sibley Scott with

Scott Sibley

just showed doing? had like in XXX,XXX you of the X-K Are the How in you the bought continuing guys Hey is you quarter, guys It the light have during COVID-XX stopped back shares. How situation? a buying question have million going? repurchase. or guys. it I $X about you

Phillip L. Gomez

So flow. press have we'll for updates there, we're indicated the need provide our decisions is a quarterly. in option at looking what number to and out share is release of and an the cash And factors like, as we those make are, what that's price items around repurchase, do we share the exercised,

what the buybacks we'll and quarter to So each of end were. provide at those that share at then look continue updates as to

the appreciate So question.

Scott Sibley

you. thank Alright,

Operator

to the remarks. session. would question-and-answer over our Phil And that like closing concludes to conference I turn back for

Phillip L. Gomez

have our at The everyone who challenging thank future providing shared we these healthy in all our the meantime, during to like all SIGA. thank is forward belief excited support safe hope management stays and their day. I'd shareholders today, our by like good and to again, Thank updates. of about that entire and you joined that In team to the call for I'd Thanks. is times. a vision we us everyone and and look future,

Operator

today's conference. This concludes

participation. you You for at thank time this lines may your disconnect and your

SIGA (SIGA) 8 May 202020 Q1 Earnings call transcript