SIGA delivers second shipment of smallpox antiviral drug

Siga Technologies, Inc., announced on Wednesday that the U.S. government accepted the second delivery of Arestvyr, its proprietary small antiviral drug, under its contract with the Biomedical Advanced Research and Development Authority.

The second delivery brought 200,000 courses of Arestvyr to the Strategic National Stockpile. In total, the contract is for 2 million courses of the smallpox antiviral drug. SIGA Chairman and CEO Dr. Eric A. Rose reported SIGA cannot collect payment until 500,000 courses have been accepted.

"When we pass that milestone, which we expect to do in the near future, we will be entitled to invoice BARDA and begin collecting payments for our product deliveries," Rose said.

Arestvyr is part of the Strategic National Stockpile, which will serve as a counter to potential terrorist attack, biowarfare or a natural outbreak of smallpox. It is one of the first drugs to be developed, procured and delivered to the government under the new legislature established after the September 11 terrorist attacks.

Arestvyr has not yet been approved by the Food and Drug Administration.