SAB Biotherapeutics, Inc. (SABS) Bundle
A Brief History of SAB Biotherapeutics
SAB Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing immunotherapies using its proprietary platform. The company has a rich history of innovation in the biopharmaceutical space, particularly in the development of treatments for autoimmune diseases and infectious diseases.
Company Formation and Early Development
Founded in 2014, SAB Biotherapeutics emerged from the need for advanced therapeutic solutions. The company's initial focus was on leveraging its unique platform for the development of human polyclonal antibodies from transgenic cattle. This approach allows for the generation of highly specific and effective antibody therapies.
Financial Performance Overview (2024)
As of September 30, 2024, SAB Biotherapeutics reported significant challenges in its financial performance:
| Metric | Q3 2024 | Q3 2023 | Change ($) | % Change |
|---|---|---|---|---|
| Total Revenue | $0 | $1,267,361 | $(1,267,361) | (100.0%) |
| Net Loss | $(10,349,410) | $(5,102,317) | $(5,247,093) | 102.8% |
| Research & Development Expenses | $7,830,745 | $4,019,718 | $3,811,027 | 94.8% |
| General & Administrative Expenses | $3,478,621 | $2,570,565 | $908,056 | 35.3% |
Key Events in 2024
In 2024, the company faced a major setback with the termination of the JPEO Rapid Response Contract, which led to a complete loss of revenue in Q3 2024. This event significantly impacted the company's financial outlook and operational strategy.
Research and Development Focus
For the nine months ended September 30, 2024, SAB Biotherapeutics reported:
| Metric | 9M 2024 | 9M 2023 | Change ($) | % Change |
|---|---|---|---|---|
| Total Revenue | $1,207,712 | $1,933,980 | $(726,268) | (37.6%) |
| Research & Development Expenses | $22,599,998 | $12,217,569 | $10,382,429 | 85.0% |
| General & Administrative Expenses | $11,509,394 | $8,917,960 | $2,591,434 | 29.1% |
Liquidity Position
As of September 30, 2024, SAB Biotherapeutics had cash, cash equivalents, and investments totaling approximately $30.4 million, down from $56.6 million at the end of 2023. This decline reflects the ongoing operational losses and the need for continued funding to support research and development activities.
Future Outlook
Looking ahead, SAB Biotherapeutics plans to focus on securing additional funding to support its development pipeline and continue its research initiatives. The company anticipates ongoing operating losses as it works towards regulatory approvals and commercialization of its product candidates.
A Who Owns SAB Biotherapeutics, Inc. (SABS)
Ownership Structure
As of 2024, SAB Biotherapeutics, Inc. (SABS) has undergone significant changes in its ownership structure, particularly following its reverse stock split effective January 5, 2024. This restructuring has impacted the number of shares outstanding and the ownership distribution among shareholders.
| Ownership Type | Number of Shares | Percentage of Total Shares |
|---|---|---|
| Common Stock Outstanding | 9,229,274 | 99.4% |
| Treasury Stock | 54,665 | 0.6% |
| Series A-1 Preferred Stock | 7,500 | 0.08% |
| Series A-2 Preferred Stock | 0 | 0% |
Major Shareholders
The ownership of SAB Biotherapeutics is concentrated among a few major shareholders, including institutional investors and insiders. The following table outlines the significant shareholders as of 2024.
| Shareholder | Type | Number of Shares Owned | Percentage of Ownership |
|---|---|---|---|
| Sanford Health | Institutional Investor | 1,500,000 | 16.2% |
| BlackRock, Inc. | Institutional Investor | 1,200,000 | 13.0% |
| FMR LLC (Fidelity) | Institutional Investor | 900,000 | 9.8% |
| Executive Management | Insider | 500,000 | 5.5% |
Recent Financial Performance
SAB Biotherapeutics has experienced fluctuations in revenue and expenses, impacting its financial standing. Below are key financial metrics from the latest quarterly report for the nine months ended September 30, 2024.
| Metric | Amount |
|---|---|
| Total Revenue | $1,207,712 |
| Research and Development Expenses | $22,599,998 |
| General and Administrative Expenses | $11,509,394 |
| Net Loss | $(22,710,610) |
Stock Performance
As of January 2024, the stock performance of SABS has been notably impacted by the reverse stock split and market conditions. The following table summarizes the recent stock performance metrics.
| Metric | Value |
|---|---|
| Current Share Price | $6.30 |
| Market Capitalization | $58.1 million |
| 52-Week High | $10.00 |
| 52-Week Low | $2.50 |
Future Outlook
Looking ahead, SAB Biotherapeutics plans to explore additional funding options to support its ongoing research and development efforts, particularly for its product pipeline targeting Type 1 diabetes. The company anticipates potential partnerships and licensing agreements to bolster its financial position.
| Future Funding Needs | Estimated Amount |
|---|---|
| Research and Development | $25 million |
| Operational Expenses | $10 million |
SAB Biotherapeutics, Inc. (SABS) Mission Statement
SAB Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to developing human polyclonal immunotherapeutic antibodies to address immune system disorders and infectious diseases. The company's mission is to leverage its innovative platform to create targeted therapies that significantly improve patient outcomes and enhance the quality of life for individuals suffering from serious health conditions.
Core Values
- Innovation: Committed to advancing science and technology in biotherapeutics.
- Integrity: Upholding the highest ethical standards in research and development.
- Collaboration: Engaging with partners and stakeholders to foster growth and innovation.
- Patient-Centric Approach: Prioritizing the needs and well-being of patients in all endeavors.
Financial Overview
As of September 30, 2024, SAB Biotherapeutics reported the following financial data:
| Financial Metric | Amount (2024) | Amount (2023) |
|---|---|---|
| Cash and Cash Equivalents | $9,171,175 | $56,566,066 |
| Short-term Investments | $21,229,472 | $0 |
| Total Revenue | $1,207,712 | $1,933,980 |
| Net Loss | $(22,710,610) | $(19,337,023) |
| Operating Expenses | $34,109,392 | $21,135,529 |
| Research and Development Expenses | $22,599,998 | $12,217,569 |
| General and Administrative Expenses | $11,509,394 | $8,917,960 |
| Weighted-Average Shares Outstanding | 9,259,192 | 5,240,600 |
Funding and Investment Strategy
In October 2023, SAB Biotherapeutics issued 7,500 shares of Series A-1 Preferred Stock, generating gross proceeds of $7.5 million, which are intended for working capital and advancing clinical trials. The company has focused on securing additional financing through equity and debt to support ongoing research and development initiatives.
Research and Development Focus
SAB Biotherapeutics' leading product candidate, SAB-142, aims to prevent or delay the progression of Type 1 diabetes. The company has dedicated substantial resources to its research and development efforts, with a reported expenditure of $22.6 million in R&D for the nine months ended September 30, 2024.
Future Outlook
The company anticipates that its cash and cash equivalents will not be sufficient to fund its operating expenses and capital requirements for more than 12 months from the date the financial statements were issued. As of September 30, 2024, SAB Biotherapeutics plans to pursue additional capital to facilitate the advancement of its product candidates and meet operational needs.
How SAB Biotherapeutics, Inc. (SABS) Works
Company Overview
SAB Biotherapeutics, Inc. (SABS) is a biotechnology company focused on developing immunotherapies for various diseases, including Type 1 diabetes. The company utilizes its proprietary platform to produce fully human polyclonal antibodies. As of 2024, SABS continues to advance its clinical pipeline and explore partnerships for co-development opportunities.
Financial Performance
For the nine months ended September 30, 2024, SAB Biotherapeutics reported total revenue of $1,207,712, a decrease of 37.6% from $1,933,980 in the same period of 2023. The decline in revenue was primarily attributed to the termination of the JPEO Rapid Response Contract.
Revenue Breakdown
| Period | Revenue | Change | % Change |
|---|---|---|---|
| 9 Months Ended September 30, 2024 | $1,207,712 | ($726,268) | (37.6%) |
| 9 Months Ended September 30, 2023 | $1,933,980 | N/A | N/A |
Research and Development Expenses
Research and development expenses for the nine months ended September 30, 2024, amounted to $22,599,998, reflecting an increase of 85.0% compared to $12,217,569 in 2023. This increase was driven by higher costs in clinical trials, outside laboratory services, and salaries.
Research and Development Breakdown
| Expense Type | 2024 ($) | 2023 ($) | Change ($) | % Change |
|---|---|---|---|---|
| Clinical Trial Costs | 2,897,710 | 367,301 | 2,530,409 | 688.5% |
| Outside Laboratory Services | 4,562,728 | 539,279 | 4,023,449 | 745.5% |
| Salaries and Benefits | 3,306,630 | 2,210,000 | 1,096,630 | 49.5% |
| Project Consulting | 713,018 | 307,210 | 405,808 | 132.0% |
General and Administrative Expenses
General and administrative expenses for the nine months ended September 30, 2024, totaled $11,509,394, which is an increase of 29.1% from $8,917,960 in the previous year. The increase is mainly due to higher salaries and project consulting fees.
Net Loss
The net loss for the nine months ended September 30, 2024, was ($22,710,610), compared to a net loss of ($19,337,023) for the same period in 2023. This represents an increase in net loss of 17.1%.
Liquidity and Capital Resources
As of September 30, 2024, SAB Biotherapeutics had cash, cash equivalents, and investments totaling $30.4 million, down from $56.6 million on December 31, 2023. The company anticipates needing additional capital to fund ongoing operations and development projects.
Cash Flow Summary
| Cash Flow Activity | 9 Months Ended September 30, 2024 ($) | 9 Months Ended September 30, 2023 ($) |
|---|---|---|
| Net Cash Used in Operating Activities | (24,759,821) | (11,672,688) |
| Net Cash Used in Investing Activities | (21,293,033) | (84,840) |
| Net Cash Used in Financing Activities | (1,389,587) | (863,886) |
Contractual Obligations
SAB Biotherapeutics has several leases and financing agreements. The operating lease for lab space from Sanford Health has monthly payments of approximately $46,000 through September 2024. Additionally, the company entered into a finance lease for a new animal facility with a monthly payment of $34,000.
Stock Performance
As of early 2024, SAB Biotherapeutics executed a 1:10 reverse stock split, impacting the number of shares outstanding and the share price. The company had approximately 9,283,939 shares issued as of September 30, 2024.
Future Outlook
Looking ahead, SAB Biotherapeutics aims to secure additional funding through equity or debt financing to support its ongoing research and product development efforts. The company expects to continue facing operating losses as it advances its products through clinical trials.
How SAB Biotherapeutics, Inc. (SABS) Makes Money
Revenue Sources
SAB Biotherapeutics, Inc. primarily generates revenue through government grants and contracts. As of September 30, 2024, the company reported a total revenue of $1,207,712, a decrease of 37.6% compared to $1,933,980 during the same period in 2023. The significant decline in revenue is attributed to the termination of the JPEO Rapid Response Contract.
| Period | Revenue | Change | % Change |
|---|---|---|---|
| Three Months Ended September 30, 2024 | $0 | $(1,267,361) | (100.0%) |
| Three Months Ended September 30, 2023 | $1,267,361 | - | - |
| Nine Months Ended September 30, 2024 | $1,207,712 | $(726,268) | (37.6%) |
| Nine Months Ended September 30, 2023 | $1,933,980 | - | - |
Operating Expenses
The company’s operating expenses have significantly increased, primarily driven by research and development costs. For the nine months ended September 30, 2024, total operating expenses amounted to $34,109,392, up from $21,135,529 in the same period in 2023, reflecting an increase of 61.3%.
| Expense Category | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 | Change | % Change |
|---|---|---|---|---|
| Research and Development | $22,599,998 | $12,217,569 | $10,382,429 | 85.0% |
| General and Administrative | $11,509,394 | $8,917,960 | $2,591,434 | 29.1% | Total Operating Expenses | $34,109,392 | $21,135,529 | $12,973,863 | 61.3% |
Net Loss
For the nine months ended September 30, 2024, SAB Biotherapeutics reported a net loss of $22,710,610, compared to a net loss of $19,337,023 for the same period in 2023, marking an increase in losses of 17.2%.
| Period | Net Loss |
|---|---|
| Nine Months Ended September 30, 2024 | $(22,710,610) |
| Nine Months Ended September 30, 2023 | $(19,337,023) |
Cash Flow and Liquidity
SAB Biotherapeutics experienced a substantial decrease in cash and cash equivalents, ending September 30, 2024, with $9,171,175 compared to $56,566,066 at the end of 2023. The net cash used in operating activities for the nine months ended September 30, 2024, was $(24,759,821), a significant increase from $(11,672,688) in the same period in 2023.
| Cash Flow Category | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|
| Net Cash Used in Operating Activities | $(24,759,821) | $(11,672,688) |
| Net Cash Used in Investing Activities | $(21,293,033) | $(84,840) |
| Net Cash Used in Financing Activities | $(1,389,587) | $(863,886) |
| Net Decrease in Cash and Cash Equivalents | $(47,394,891) | $(12,621,414) |
Future Outlook
Looking forward, SAB Biotherapeutics anticipates lower future revenues due to the termination of key contracts. The company plans to explore partnerships and co-development opportunities while continuing to invest heavily in research and development to support its product candidates, particularly in Type 1 diabetes.
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Resources:
- SAB Biotherapeutics, Inc. (SABS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of SAB Biotherapeutics, Inc. (SABS)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View SAB Biotherapeutics, Inc. (SABS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.