SABS
SAB Biotherapeutics, Inc.3.9900
-0.0100-0.25%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
189.95MP/E (TTM)
-Basic EPS (TTM)
-1.56Dividend Yield
0%Recent Filings
8-K
Board shrinks after resignations
SAB Biotherapeutics' board shrank from 11 to nine members on September 30, 2025, after Christine Hamilton and Jeffrey Spragens resigned, fulfilling a July 21 letter agreement tied to the company's private placement with RA Capital Healthcare Fund. No disagreements prompted their exits; the board expressed deep gratitude for their service. This adjustment streamlines governance amid post-placement shifts.
10-Q
Q2 FY2025 results
SAB Biotherapeutics posted no revenue in Q2 FY2025 ended June 30, 2025, down 100% y/y from $0.3M in grant income, while operating expenses dipped 7% y/y to $9.7M, driven by lower G&A but offset by higher clinical trial costs for SAB-142. This yielded an operating loss of $9.7M, up 5% y/y, but net loss widened to $10.1M from $7.3M due to a $0.6M swing in warrant liability fair value changes. Diluted EPS of -$1.09 aligns with 9.3M weighted shares, with anti-dilution from options and warrants. Cash burned $14.9M in operations, leaving $3.7M plus $2.0M short-term investments at quarter-end; no debt beyond leases, but a $175M Series B raise in July bolsters liquidity for the Phase 2b SAFEGUARD study. Cash is king here. Yet regulatory hurdles in autoimmune trials loom large.
8-K
SAB BIO raises $175M for T1D trial
SAB Biotherapeutics secured $175 million in an oversubscribed private placement on July 21, 2025, issuing 1 million shares of Series B convertible preferred stock—convertible into 100 million common shares at $1.75 each—plus warrants for up to 1.5 million more preferred shares, potentially adding $284 million if exercised. Backed by Sanofi, RA Capital, and others, the funds will fully finance the Phase 2b SAFEGUARD study of SAB-142 for delaying type 1 diabetes progression, extending cash runway to mid-2028. Yet stockholder approval is needed for conversion, capping individual ownership at 4.99% initially. This bolsters clinical momentum amid FDA alignment.
8-K
Annual meeting elects directors
SAB Biotherapeutics held its 2025 Annual Meeting on July 17, drawing 71.38% quorum from 9.3 million eligible shares. Shareholders elected Dr. William Polvino, Scott Giberson, Erick Lucera, and Dr. Jay S. Skyler as Class I directors for three-year terms, while ratifying EisnerAmper LLP as auditors for the year ending December 31, 2025—with 6.4 million votes for versus 238,000 against. Strong turnout signals board stability. No major disputes emerged.
10-Q
Q1 FY2025 results
SAB Biotherapeutics posted no revenue in Q1 FY2025 ended March 31, 2025, down 100% y/y from $0.9M in grant income, while trimming operating expenses 12.7% y/y to $10.8M, yielding an operating loss of $10.8M versus $11.4M last year. Net loss narrowed slightly to $5.2M or $(0.56) per diluted share on 9.3M weighted shares, buoyed by a $5.0M gain from warrant liability fair-value changes, though this fell 7.9% y/y; the gap between operating and net loss stems mainly from these non-cash warrant adjustments. Cash burn eased, with operating cash use at $7.8M versus $10.8M y/y, leaving $5.6M in cash and $7.2M in short-term investments for a $12.8M liquidity pool, but total debt remains low at $138K in notes payable. No free cash flow disclosed in the 10-Q. Positive Phase 1 data for lead T1D candidate SAB-142 supports Phase 2b plans, yet clinical trial risks loom large.
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