SIGA Technologies, the publicly traded, New York-based provider of an antiviral smallpox drug for the federal government, is working with outside PR and IR counsel amid a Sept. 16 Chapter 11 bankruptcy filing.
The company, which faces a crushing $232M-plus licensing judgment following litigation in Delaware, said bankruptcy protection was the only way it could fulfill the US Strategic National Stockpile's order of its antiviral Tecovirimat, which treats smallpox and is seeking FDA approval. It also plans to appeal the Delaware judgment, which stemmed from a court battle with PharmAthene dating back to 2006.
Rubenstein Associates is providing PR counsel and handling media relations for SIGA. Senior executive VP Marcia Horowitz heads that work.
On the IR front, SIGA's retainer firm KCSA Strategic Communications leads the charge under the direction of managing partner Todd Fromer.
SIGA CEO Eric Rose said: "SIGA has adequate liquidity to conduct its operations, satisfy all of its contractual commitments, and, with the stay afforded by chapter 11, pursue its appellate rights."
SIGA's delivery of for the Biomedical Advanced Research and Development Authority is covered by the Project BioShield Act of 2004.
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