SIGA Delivers First Courses of Arestvyr(TM) Under BARDA Contract

SIGA Delivers First Courses of Arestvyr(TM) Under BARDA Contract

NEW YORK, March 12, 2013 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc.
(Nasdaq:SIGA), a company specializing in the development of pharmaceutical
agents to fight pathogens capable of use as bioweapons, today announced the
first of a series of deliveries of its proprietary smallpox antiviral drug,
Arestvyr™, to the United States Government's Strategic National Stockpile
under SIGA's contract with the Biomedical Advanced Research and Development
Authority (BARDA).

"The men and women of SIGA are proud of their longstanding partnership with
BARDA, taking this important step forward in protecting our fellow citizens
against the threat of bioterrorism," declared Dr. Eric A. Rose, SIGA's
Chairman and Chief Executive Officer. "This first commercial delivery marks a
major milestone in SIGA's transformation from a research company to a
commercial biopharmaceutical enterprise. While SIGA continues to research and
develop pharmaceutical agents to fight other lethal pathogens, and
concurrently seeks approval and licensing of Arestvyr from the U.S. Food and
Drug Administration, this first delivery of Arestvyr to the Stockpile is
evidence of our ability to oversee the manufacture and delivery of large
quantities of high-quality pharmaceutical product. It gives us great
confidence in SIGA's capabilities and aspirations, and moves us well down the
path to generating substantial contractual payments from BARDA later this year
and beyond."

BARDA, part of the Office of the Assistant Secretary for Preparedness and
Response in the U.S. Department of Health and Human Services, provides an
integrated, systematic approach to the development and purchase of the
necessary vaccines, drugs, therapies, and diagnostic tools for public health
emergencies. SIGA may begin to obtain payment under the BARDA contract once it
has delivered 500,000 of the 2,000,000 contracted-for courses of Arestvyr.
This first delivery of approximately 190,000 courses moves SIGA much closer to
that moment.

Arestvyr (Tecovirimat) is one of the first novel drugs to be developed,
procured and now delivered to the Strategic National Stockpile under the
post-9/11 legislative authority known as Project BioShield. Developed to serve
as a therapeutic drug for treatment of smallpox, whether resulting from a
terrorist attack, biowarfare or a new natural outbreak, Arestvyr is an
investigational new drug not yet approved or licensed as safe and effective by
the U.S. Food and Drug Administration (FDA). Arestvyr was formerly known as
ST-246®.

About SIGA Technologies, Inc.

In the United States and around the globe, populations face a serious but
unmet need for new drugs to protect against potentially catastrophic emerging
viral pathogens and biological weapons of mass destruction. We are a
pharmaceutical company specializing in developing pharmaceutical solutions for
some of the most lethal pathogens – smallpox, Ebola, dengue, Lassa fever and
other dangerous viruses. Our objective is to discover, develop, and
commercialize drugs to prevent and treat these high-priority threats. Our
mission is to disarm dreaded viral diseases and create robust, modern
biodefense countermeasures. For more information about SIGA, please visit
SIGA's web site at www.siga.com.

The SIGA Technologies, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4504

Forward-looking Statements

This press release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, as amended,
including statements relating to SIGA's performance under its contract with
BARDA and its efforts to seek approval and licensing from the United States
Food and Drug Administration. Forward-looking statements are based on
management's estimates, assumptions and projections, and are subject to
uncertainties, many of which are beyond our control. Actual results may differ
materially from those anticipated in any forward-looking statement. Factors
that may cause such differences include (i) the risk that potential products
that appear promising to us or our collaborators cannot be shown to be
efficacious or safe in subsequent animal, pre-clinical or clinical trials,
(ii) the risk that we or our collaborators will not obtain appropriate or
necessary governmental approvals to market these or other potential products,
(iii) the risk that we may not be able to obtain anticipated funding for our
development projects or other needed funding, (iv) the risk that we may not
complete performance under the BARDA contract on schedule or in accordance
with the contractual terms, (v) the risk that we may not be able to secure or
enforce sufficient legal rights in our products, including patent protection,
(vi) the risk that any challenge to our patent and other property rights, if
adversely determined, could affect our business and, even if determined
favorably, could be costly, (vii) the risk that regulatory requirements
applicable to our products may result in the need for further or additional
testing or documentation that will delay or prevent seeking or obtaining
needed approvals to market these products, (viii) the risk that one or more
protests could be filed and upheld in whole or in part or other governmental
action taken, in either case leading to a delay of performance under our
contract with BARDA, or other governmental contracts, (ix) the risk that our
BARDA contract is modified or cancelled at the request or requirement of the
U.S. Government, (x) the risk that the volatile and competitive nature of the
biotechnology industry may hamper our efforts to develop or market our
products, (xii) the risk that changes in domestic and foreign economic and
market conditions may adversely affect our ability to advance our research or
products, (xiii) the effect of any change to federal, state or foreign
regulation, including drug regulation and international trade regulation, on
our business, and (xiv) the risk that the U.S. Government's responses
(including inaction) to the national and global economic situation, including
possible courses of action related to the so-called "sequester", may adversely
affect our business. More detailed information about our company and risk
factors that may affect the realization of forward-looking statements,
including the forward-looking statements set forth here, is set forth in our
filings with the Securities and Exchange Commission (the SEC), including our
Annual Report on Form 10-K for the fiscal year ended December 31, 2012, and in
other documents that we have filed with the SEC. We urge investors and
security holders to read those documents free of charge at the SEC's website
at http://www.sec.gov. Interested parties may also obtain those documents free
of charge directly from us. Forward-looking statements speak only as of the
date they are made, and except for our ongoing obligations under the federal
securities laws, we undertake no obligation to update publicly any
forward-looking statement whether as a result of new information, future
events or otherwise.

CONTACT: KCSA Strategic Communications
         Todd Fromer / Rob Fink
         212-896-1215 / 1206
         732-241-5193
         Tfromer@kcsa.com / rfink@kcsa.com

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