SIGA TECHNOLOGIES INC — Director's Dealing 2005

Jun 6, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SIGA TECHNOLOGIES INC (SIGA)
CIK: 0001010086
Period of Report: 2005-06-02

Reporting Person: DRAPKIN DONALD G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-06-02	Stock Option (Right to buy)	$1.35	A	10000	Acquired	2015-06-02	Common Stock, par value $.0001 per share (10000)	Direct

Footnotes

F1: Includes 1,135,000 shares of common stock issuable upon exercise of options, shares of common stock underlying a warrant to
purchase up to 347,826 shares of common stock and shares of common stock underlying a warrant to purchase up to 30,500
shares of common stock (the "Drapkin September 2001 Investor Warrant"). However, the Drapkin September 2001 Investor
Warrant provides that, with certain limited exceptions, such warrant is not exercisable if, as a result of such exercise,
the number of shares of common stock beneficially owned by Mr. Drapkin and his affiliates (other than shares of common stock
which may be deemed beneficially owned through the ownership of the unexercised portion of the Drapkin September 2001
Investor Warrant) would exceed 9.99% of the outstanding shares of common stock.

F2: Does not include shares of common stock that Mr. Drapkin, as a director and Vice Chairman of Mafco Holdings Inc. and
MacAndrews & Forbes or as director of TransTech Pharma, may be deemed to beneficially own and as to which Mr. Drapkin
disclaims beneficial ownership.