-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IcJHS5pMM0ujq3t+WWVJifN67s9Mfs/DpkfAIVMsB4QKo7rvbjgNepb7oooce00o
 Utu7P6kSvT1+jkOpBQMm6w==

<SEC-DOCUMENT>0000922423-05-000962.txt : 20050611
<SEC-HEADER>0000922423-05-000962.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050606180733
ACCESSION NUMBER:		0000922423-05-000962
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050602
FILED AS OF DATE:		20050606
DATE AS OF CHANGE:		20050606

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIGA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001010086
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133864870
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		420 LEXINGTON AVE
		STREET 2:		SUITE 601
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10170
		BUSINESS PHONE:		2126729100

	MAIL ADDRESS:	
		STREET 1:		420 LEXINGTON AVE
		STREET 2:		SUITE 601
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10170

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIGA PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19961108

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DRAPKIN DONALD G
		CENTRAL INDEX KEY:			0001046392

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23047
		FILM NUMBER:		05881438

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9544731001

	MAIL ADDRESS:	
		STREET 1:		PROXYMED
		STREET 2:		2555 DAVIE RD STE 110
		CITY:			FT LAUDERDALE
		STATE:			FL
		ZIP:			33317
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>kl00615_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-06-02</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001010086</issuerCik>
        <issuerName>SIGA TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>SIGA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001046392</rptOwnerCik>
            <rptOwnerName>DRAPKIN DONALD G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SIGA TECHNOLOGIES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>420 LEXINGTON AVENUE, SUITE 408</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK,</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10170</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.35</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-06-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-06-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2015-06-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.0001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1513326</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="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 &quot;Drapkin September 2001 Investor Warrant&quot;). 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.</footnote>
        <footnote id="F2">Does not include shares of common stock that Mr. Drapkin, as a director and Vice Chairman of Mafco Holdings Inc. and
MacAndrews &amp; Forbes or as director of TransTech Pharma, may be deemed to beneficially own and as to which Mr. Drapkin
disclaims beneficial ownership.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Donald G. Drapkin</signatureName>
        <signatureDate>2005-06-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
