Better Health for All

SIGA Technologies' core product, TPOXX, is an antiviral treatment for orthopoxviruses, including smallpox, mpox, cowpox, and vaccinia complications.

It has demonstrated efficacy, with 40% resolution in 7 days and 92% in 21 days for mpox, and 100% of the company's revenue is derived from this product. TPOXX has received multiple regulatory approvals globally, including from the US FDA, Health Canada, EMA, MHRA-UK, and Japan's PMDA. The company is supporting clinical trials evaluating TPOXX as a treatment for mpox and has secured procurement deals with the US government and an agreement with ASEAN member states. The PEP label expansion program positions TPOXX as a prophylaxis treatment. However, R&D expenses declined 40% year-over-year in Q1 2024 to $3.1 million. SIGA holds multiple patents related to TPOXX formulations, with expiration dates ranging from 2027 to 2032, and there is no evidence of patent flexibility or licensing in low-income countries.

Fair Pay & Worker Respect

For fiscal year 2024, SIGA Technologies reported a CEO pay ratio of 28:1, with CEO Diem Nguyen receiving $4,588,317 and the median employee earning $163,709.

Employee feedback on Glassdoor indicates that 83% of employees would recommend the company to a friend. Additionally, 61% approve of CEO Eric A. Rose. On Indeed, the company has an overall rating of 3.7 out of 5 stars based on 3 reviews, with a culture rating of 4.0 out of 5 stars.

Honest & Fair Business

SIGA Technologies has a formal whistleblower protection policy with an anonymous reporting mechanism via siga.ethicspoint.com.

The Audit Committee is responsible for investigating reports received through this ethics hotline, and the company has a non-retaliation policy. The company's Corporate Governance Guidelines state that the Board will be comprised of a majority of independent directors as required under Nasdaq rules, and the Nominating and Corporate Governance Committee manages risks associated with board independence and potential conflicts of interest. Waivers for any director or officer from the Code of Ethics must be approved by a majority of the independent directors. The company emphasizes compliance with anti-corruption laws, including the Foreign Corrupt Practices Act (FCPA), and references a specific Anti-Corruption Policy (POL-34 Policy 700). Employees and agents are prohibited from offering or giving anything of value to obtain improper business advantage. The company has not had any financial restatements in the past five years, as evidenced by its Form 10-K filing for the fiscal year ended December 31, 2023, which does not mention any restatements.

Kind to Animals

SIGA Technologies relies on animal data for efficacy and toxicology studies of its lead product, Tpoxx, and other pipeline candidates.

This is due to the FDA's "Animal Rule," which allows drug approval based on animal studies when human efficacy trials are unethical or unfeasible, such as for smallpox. Efficacy data for Tpoxx was determined in three pivotal studies using cynomolgus macaques infected with monkeypox virus and two pivotal studies in New Zealand white rabbits infected with rabbitpox. Additionally, ST-357, a developing product, has shown proof of concept in three mouse models. The company conducts pre-clinical trials on animals for drug development, with no evidence of a formal policy to reduce or replace animal testing where legally mandated. The company used 4 pivotal trials in non-human primates and 2 pivotal trials in rabbits for Tpoxx.

No War, No Weapons

No relevant information was found in the provided articles to assess SIGA.US against the 'No War, No Weapons' ethical value.

The articles did not contain any specific data points regarding the company's revenue from arms contracts, dual-use technology, sales to embargoed regimes, peacebuilding investments, or any other related KPIs.