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SABS

SAB Biotherapeutics, Inc.

SABS

SAB Biotherapeutics, Inc. • NASDAQ
$3.95 ▼ -2.23% (-0.09)
Market Cap $37.75 M
52w High $6.60
52w Low $1.00
Dividend Yield 0%
P/E -2.53
Volume 232.88K
Outstanding Shares 9.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $11.914M ▲ $5.338M ▲ 0% $0.5 ▲ $46.254M ▲
Q2-2025 $0 $8.91M ▼ $-10.114M ▼ 0% $-1.09 ▼ $-9.228M ▼
Q1-2025 $0 ▼ $9.994M ▲ $-5.197M ▲ 0% ▲ $-0.56 ▲ $-4.349M ▲
Q4-2024 $114.698K ▲ $9.338M ▼ $-11.395M ▼ -9.935K% ▼ $-1.23 ▼ $-10.538M ▼
Q3-2024 $0 $10.343M $-10.349M 0% $-1.12 $-9.305M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $110.881M ▲ $183.448M ▲ $18.374M ▲ $165.074M ▲
Q2-2025 $5.714M ▼ $30.129M ▼ $18.113M ▲ $12.016M ▼
Q1-2025 $12.85M ▼ $38.12M ▼ $16.713M ▼ $21.407M ▼
Q4-2024 $20.761M ▼ $44.195M ▼ $18.226M ▲ $25.97M ▼
Q3-2024 $30.401M $53.797M $16.895M $36.903M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.338M ▲ $-13.05M ▼ $-129.869M ▼ $168.689M ▲ $25.732M ▲ $-13.05M ▼
Q2-2025 $-10.114M ▼ $-7.152M ▲ $5.198M ▲ $-173.844K ▲ $-1.948M ▲ $-7.152M ▲
Q1-2025 $-5.197M ▲ $-7.797M ▲ $4.671M ▼ $-173.985K ▼ $-3.258M ▼ $-7.797M ▲
Q4-2024 $-11.395M ▼ $-9.271M ▼ $9.331M ▲ $-44.144K ▲ $-273.209K ▲ $-9.326M ▼
Q3-2024 $-10.349M $-6.292M $-1.153M $-674.13K $-8.071M $-6.392M

Revenue by Products

Product Q1-2022Q2-2022Q3-2022
Grant Revenue
Grant Revenue
 $10.00M ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement SAB Biotherapeutics is still essentially a pre‑revenue, clinical‑stage company. Recent years show almost no product or collaboration revenue, so the income statement is driven mainly by research and operating expenses rather than sales. Losses have been consistent, which is typical for early‑stage biotech, but it also means the business is not yet self‑funding. Profitability briefly looked better several years ago, then slipped back as the company invested more heavily in its pipeline and platform. The very large swings in earnings per share are largely accounting effects tied to capital structure changes (including the reverse split), rather than changes in the underlying business. Overall, the income statement reflects a science‑focused company still far from commercial scale, with ongoing operating losses and heavy dependence on external funding until a drug is approved or partnered.

Balance Sheet

Balance Sheet The balance sheet is small and fairly lean. Total assets and cash are modest, showing that this is a very small company in absolute financial terms. Cash is the main asset, with little physical investment, which fits a virtual or R&D‑heavy biotech model. Debt levels appear low, which limits financial leverage risk but also highlights that growth is funded mainly by equity and non‑dilutive sources rather than borrowing. Shareholders’ equity exists but has fluctuated as losses accumulate, suggesting a limited cushion if funding becomes tighter. In short, the balance sheet looks simple and relatively unencumbered by debt, but also thin, leaving limited room to absorb prolonged setbacks without additional capital raises. Any claimed long operational runway should be cross‑checked against the most current filings, given the small scale of reported assets and cash here.

Cash Flow

Cash Flow Cash flow patterns are what you would expect from a clinical‑stage biotech: cash going out to fund research and operations, with little or no cash coming in from products. Operating cash flow has been negative in recent years, meaning the core business consumes cash rather than generating it. Capital spending is quite low, so most cash use is tied to staffing, trials, and platform development, not heavy equipment or facilities. Free cash flow is also negative, reinforcing that the company relies on external capital (equity, grants, or partnerships) to keep advancing its programs. The key risk from a cash‑flow standpoint is timing: the company needs enough funding to bridge the gap between ongoing trial costs and any future inflows from partnerships, milestone payments, or eventual commercialization.

Competitive Edge

Competitive Edge SAB appears to have a differentiated competitive position built around its DiversitAb platform and transchromosomic cattle, which can produce fully human polyclonal antibodies at scale. This is a niche approach that few, if any, other companies can easily replicate, providing a meaningful technical barrier to entry. Its antibodies are designed to be fully human and polyclonal, potentially offering advantages over traditional monoclonal drugs, especially for fast‑mutating viruses or complex autoimmune conditions. The focus on type 1 diabetes and other autoimmune diseases targets large markets with significant unmet medical need. External support from government agencies and institutions adds credibility to the platform. However, competition in immunology and diabetes is intense, with many large, well‑funded players. SAB’s position depends heavily on proving clinical benefit and safety, scaling manufacturing reliably, and securing partnerships or commercialization capabilities to compete with big pharma once products approach market.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of SAB’s strategy. The DiversitAb platform and Tc Bovine technology are unconventional but potentially powerful tools for rapidly generating fully human polyclonal antibodies against a wide variety of targets. The lead program, SAB‑142 for type 1 diabetes, aims to move beyond symptom management toward disease modification, which would be a significant step if clinical results remain strong. Early data suggesting fewer immunogenicity issues than animal‑derived therapies are promising but need to be confirmed in larger, later‑stage trials. The influenza candidate SAB‑176, along with broader platform applications in autoimmune disease, demonstrate that this is not a single‑asset story. This innovation comes with the usual R&D risks: trial setbacks, regulatory uncertainty, and the challenge of turning an interesting platform into approved, reimbursed medicines. R&D intensity will likely remain high for years, and success is very binary at key milestones.

Summary

Overall, SAB Biotherapeutics is a very early‑stage, science‑driven biotech with a distinctive technology platform and a narrow, fragile financial base. The financial statements show a tiny, loss‑making company with modest cash and assets, low debt, and ongoing negative cash flow—as is common before commercialization. This underscores its dependence on continued access to capital, grants, and partnerships. On the strategic side, the company’s platform and lead programs are genuinely differentiated and targeted at large, meaningful disease areas. Partnerships with government and institutional backers support the scientific story, but commercial and regulatory outcomes remain unproven. Key things to watch are: progress and data readouts for SAB‑142 and other pipeline assets, the company’s ability to secure partnerships or non‑dilutive funding, and how its reported cash runway aligns with actual cash balances and spending over time. The long‑term outcome hinges on clinical success and sustained funding rather than current financial performance.

NEWS

November 13, 2025 · 5:00 PM UTC

SAB BIO Reports Third Quarter Financial Results and Recent Business Highlights

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November 4, 2025 · 8:30 AM UTC

SAB BIO to Present Data at the International Society for Pediatric and Adolescent Diabetes Annual Conference Showcasing Progress in the Development of SAB-142

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November 4, 2025 · 8:00 AM UTC

SAB BIO to Participate in Upcoming Investor Conferences

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September 19, 2025 · 7:24 AM UTC

SAB BIO Highlights Data in Multiple Presentations at EASD

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September 3, 2025 · 4:05 PM UTC

SAB BIO to Deliver Five Presentations Related to SAB-142 at the 2025 Annual Meeting of the European Association for the Study of Diabetes

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