Delaware Supreme Court Reverses Equitable Payment Stream to PharmAthene and Remands Litigation to Trial Court for New

Delaware Supreme Court Reverses Equitable Payment Stream to PharmAthene and
Remands Litigation to Trial Court for New Determination of Damages

NEW YORK, May 26, 2013 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc.
(Nasdaq:SIGA) reported today that the Delaware Supreme Court reversed the
award of an "equitable payment stream" by the Court of Chancery in its May 31,
2012 Final Order and Judgment in PharmAthene, Inc. v. SIGA Technologies, Inc.
and also remanded the case to the Court of Chancery for further proceedings to
determine appropriate damages.

William J. Haynes II, SIGA's General Counsel, commented, "We are pleased with
the Delaware Supreme Court ruling issued on Friday. The Supreme Court's
decision states that PharmAthene may only obtain damages for its lost
expectancy if it can prove them 'with reasonable certainty.' We intend to
establish to the Chancery Court, consistent with that Court's earlier
conclusions, that PharmAthene's evidence of expectancy damages is speculative
and too uncertain, contingent, and conjectural to permit an award."

Dr. Eric A. Rose, SIGA's Chief Executive Officer, commented, "While legal
proceedings may continue, we will now focus with even greater intensity on
growing and enhancing SIGA's business, executing our existing contract with
BARDA, seeking approval and licensing of Arestvyr™ from the U.S. Food and Drug
Administration, and making greater use of our proven antiviral drug discovery
and development capabilities."

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 discovering and 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

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 further court proceedings, SIGA's performance
under its contract with the Biomedical Advanced Research and Development
Authority (BARDA), SIGA's efforts to seek approval and licensing from the
United States Food and Drug Administration, and SIGA's capabilities in
antiviral drug discovery and development. 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 intellectual
property 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 canceled 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, (xi) the risk that changes in domestic and foreign economic and
market conditions may adversely affect our ability to advance our research or
products, (xii) the effect of federal, state or foreign regulation, including
drug regulation and international trade regulation, on our business, (xiii)
the risk that our outstanding indebtedness may make it more difficult to
obtain additional financing, (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, (xv) the risk that our internal controls will
not be effective in detecting or preventing a misstatement in our financial
statements, (xvi) the risk that some amounts received and recorded as deferred
revenue ultimately may not be recognized as revenue, and (xvii) the risk that
we may not be able to establish our intended positions or otherwise not
prevail in any further court proceedings. 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, as amended by SIGA's 10-K/A as filed on May 15, 2013, 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 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 / Robert Fink
         212-896-1215 / 212-896-1206 /

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