Filed Under Rule 424(b)(3)
                                                           File Number 333-36682

                   Prospectus Supplement Dated March 14, 2002
                                       to
                          Prospectus Dated May 24, 2000

                             SIGA TECHNOLOGIES, INC.

      The table set forth in the section of the Prospectus entitled "Selling
Stockholders" is hereby updated to reflect the transfer of certain common stock
warrants from Gabriel M. Cerrone to Panetta Partners Ltd. The selling
stockholder may have sold, transferred or otherwise disposed of, or may sell,
transfer or otherwise dispose of, at any time or from time to time since the
dates on which it provided the information regarding the shares beneficially
owned by it, all or a portion of the shares beneficially owned by it in
transactions registered under other effective registration statements or exempt
from the registration requirements of the Securities Act.



                                 Securities Owned Prior to                     Securities Owned After
                                         Offering                                     Offering
                                 -------------------------       Shares of     -----------------------
                                                                  Common       Number of
                                 Shares of      Percent of        Stock        Shares of    Percent of
Name of Selling                    Common        Common          Offered        Common        Common
Stockholder                        Stock          Stock           Hereby         Stock         Stock
                                 ---------      ----------      ----------     ---------    ----------
                                                                                
Panetta Partners Ltd.(2)         141,084(1)        1.4          210,000(3)     141,084         1.4


- ----------

(1)   Panetta holds, inter alia, warrants to purchase 649,388 shares of common
      stock. The warrants provide that, with certain limited exceptions, they
      are not exercisable if, as a result of such exercise, the number of shares
      of common stock beneficially owned by Panetta and its affiliates (other
      than shares of common stock which may be deemed beneficially owned through
      the ownership of the unexercised portion of such warrants) would exceed
      9.99% of the outstanding shares of common stock. As a result of the
      restrictions described in the immediately preceding sentence and the facts
      described in this footnote 1 and 2 below, the warrants are not presently
      exercisable. If not for the 9.99% limit, Panetta could be deemed to
      beneficially own 790,472 shares of common stock, or 7.3% of the
      outstanding shares of common stock.

(2)   Gabriel Cerrone is the general partner of Panetta Partners, Ltd. and a
      director of Siga. Mr. Cerrone could be deemed to beneficially own
      1,277,584 shares of common stock, or 11.4% of the outstanding shares of
      common stock, giving effect to the 9.99% limit. Such



      amount includes 1,075,000 shares of common stock issuable upon exercise of
      options. If not for the 9.99% limit, Mr. Cerrone could be deemed to
      beneficially own 1,926,972 shares of common stock, or 16.2% of the
      outstanding shares of common stock.

(3)   The shares of common stock offered hereby underlie warrants which
      currently are not exercisable because of the 9.99% limit.