SABSWNasdaqBiological Products, (No Diagnostic Substances)US GAAP · USD

SAB Biotherapeutics, Inc.

SAB Biotherapeutics, Inc. is a U.S.-based clinical-stage biopharmaceutical company developing human immunoglobulin G (hIgG) therapies for immune and autoimmune disorders. Its platform uses transchromosomic bovine technology to generate disease-targeted polyclonal antibodies, with lead development centered on SAB-142 for autoimmune type 1 diabetes.

Liikevaihto0,0milj. USD
−100,0 %v/v
Liikevoitto (EBIT)−49,0milj. USD
−14,1 %v/v
Nettotulos13,3milj. USD
+138,9 %v/v
Vapaa kassavirta−45,7milj. USD
−32,0 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−50−250255075milj. USD2020: 55 milj. USD2020: EBIT 21 milj. USD20202021: 61 milj. USD2021: EBIT −13 milj. USD20212022: 24 milj. USD2022: EBIT −29 milj. USD20222023: 2,2 milj. USD2023: EBIT −38 milj. USD20232024: 1,3 milj. USD2024: EBIT −43 milj. USD20242025: 0,00 milj. USD2025: EBIT −49 milj. USD20250,00−49
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Lead clinical candidate0 %

SAB-142 and related development programs targeting autoimmune type 1 diabetes.

Immunotherapy pipeline0 %

Other hIgG product candidates for immune and autoimmune disorders.

Tc-Bovine antibody platform0 %

Proprietary transchromosomic cattle platform used to produce disease-targeted hIgG.

Government-funded countermeasure work100 %

Research and development supported by U.S. government programs and contracts.

Asiakkaat

SAB Biotherapeutics primarily serves government agencies, clinical investigators, and future commercial patients through its development programs rather than selling established products today. Its near-term counterparties are research collaborators, regulators, contract providers, and funding agencies that support clinical development and platform advancement. If approved, its therapies would be directed to patients with autoimmune and immune-mediated diseases, especially type 1 diabetes.

Government funding agencies

U.S. agencies and programs that fund development, countermeasure, and rapid-response work.

Clinical development ecosystem

Trial sites, investigators, CROs, and collaborators supporting SAB-142 and other studies.

Future autoimmune patients

Patients with type 1 diabetes and other autoimmune disorders who would use approved therapies.

Commercial partners

Potential partners for sales, marketing, and distribution if products reach approval.

Strategia

SAB Biotherapeutics is focused on advancing its lead hIgG programs through clinical development and building the evidence needed for regulatory approval. It is also expanding its Tc-Bovine production capacity and seeking to preserve optionality for future commercialization through partnerships or an internal sales capability. The platform strategy emphasizes differentiated, polyclonal antibody biology that can be applied to multiple immune and autoimmune indications.

Advance SAB-142 clinical developmentLyhyt aikaväli

The lead candidate is the main value driver and proof point for the platform.

Expand platform into additional autoimmune indicationsKeskipitkä aikaväli

A broader indication set can increase the addressable market for the hIgG platform.

Increase manufacturing resilience and scaleKeskipitkä aikaväli

Animal-based plasma production requires capacity, redundancy, and operational control.

Prepare for commercialization pathwaysKeskipitkä aikaväli

Approval alone is not sufficient without sales, marketing, and distribution execution.

Maantiede

The company is headquartered in the United States and conducts its core development and corporate activities from there. Its regulatory and development pathway also references the FDA, the UK MHRA, and Australia’s TGA, indicating a multi-jurisdiction development footprint. Operationally, its animal-based production platform depends on dedicated specialty facilities, including a planned redundant facility at a separate location.

Riskit

The company faces the typical risks of a clinical-stage biotech: clinical failure, regulatory delay, and the need for substantial external capital before commercialization. Its platform also depends on specialized animal facilities, third-party collaborators, and data integrity across the development chain, which can create operational and regulatory exposure. Because it has no established product revenue base, financing and execution risk remain central to the business model.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Financing and going-concern risk1Clinical development failure2Regulatory approval risk3Manufacturing and facility dependence4Third-party collaboration and data integrity risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Financing and going-concern riskVaikutus: KriittinenTodennäköisyys: Korkea

    The company expects continued losses and needs external capital to operate.

    Kohdistuu: Corporate continuity and pipeline funding

  2. Clinical development failureVaikutus: KorkeaTodennäköisyys: Korkea

    The company depends on proving SAB-142 and other candidates in human studies.

    Kohdistuu: Lead candidate and pipeline value

  3. Regulatory approval riskVaikutus: KorkeaTodennäköisyys: Korkea

    Product candidates must satisfy FDA and other regulators before commercialization.

    Kohdistuu: SAB-142 and future autoimmune indications

  4. Manufacturing and facility dependenceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Tc-Bovine plasma production requires specialized animal facilities and redundancy.

    Kohdistuu: Supply continuity and scale-up

  5. Third-party collaboration and data integrity riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    R&D and clinical work rely on CROs, contractors, and external scientific data.

    Kohdistuu: Trial execution and decision-making

Kirjanpito

Harkinnanvaraiset erät
Government grant revenue recognition

Revenue has come from grants and contract closeout activity, making timing and classification important.

Vaikutus: Affects reported revenue and comparability across periods

Clinical trial and R&D accruals

Trial costs, CRO invoices, and vendor services require estimates before cash settlement.

Vaikutus: Affects operating expense timing

Valuation allowance on deferred tax assets

Loss history makes realizability of tax assets uncertain.

Vaikutus: Affects tax provision and equity

Going-concern assessment

Cash runway and future financing assumptions are central to financial statement presentation.

Vaikutus: Affects liquidity disclosure and investor interpretation

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026