SIGA Technologies Inc. (NASDAQ: SIGA) saw its stock price plummet 8.20% in after-hours trading on Thursday following the release of its third-quarter financial results. The sharp decline comes as the company reported a significant drop in revenue and swung to a net loss, primarily due to lower product sales and reduced deliveries of its antiviral drug, TPOXX.

For the third quarter ended September 30, 2025, SIGA reported total revenues of $2.6 million, a stark 73.83% decrease from $10 million in the same period last year. The company posted a net loss of $6.4 million, or $(0.09) per share, compared to a net income of $1.3 million, or $0.02 per share, in the third quarter of 2024. This represents a 550% decrease in earnings per share year-over-year.

The disappointing results were largely attributed to a significant decline in product sales, particularly in deliveries of TPOXX, SIGA's flagship antiviral treatment. Despite the weak quarter, the company highlighted that it generated $86 million in product revenues and $33 million in pre-tax operating income for the first nine months of 2025. SIGA's management emphasized their focus on securing new procurement contracts with the U.S. Government and international governments to bolster future revenue growth. The company also noted recent developments, including regulatory approval of TPOXX in Japan and additional funding for its pediatric development program, which could potentially drive growth in the coming years.