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SAB Biotherapeutics (SABS) investor relations material
SAB Biotherapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Lead candidate SAB-142 advanced after positive Phase 1 data, with FDA alignment on pivotal Phase 2b SAFEGUARD study; study initiation planned for Q3 2025.
$175 million raised in July 2025 through an oversubscribed private placement, including strategic investor Sanofi, to fund clinical trials and extend operational runway to mid-2028.
No revenue recognized in Q2 2025 due to prior government grant terminations; focus remains on clinical development for type 1 diabetes and other autoimmune indications.
Completed full randomization of Phase 1 study for SAB-142; final data expected Q4 2025.
Financial highlights
Net loss of $10.1 million for Q2 2025, compared to $7.3 million in Q2 2024; net loss of $15.3 million for the six months ended June 30, 2025, versus $12.4 million year-over-year.
Cash and cash equivalents were $3.7 million as of June 30, 2025, down from $17.2 million at June 30, 2024; another source reports $5.7 million as of June 30, 2025.
R&D expenses were $7.0 million for Q2 2025, slightly up from $6.8 million in Q2 2024; general and administrative expenses fell to $2.7 million from $3.6 million.
No revenue in Q2 2025; revenue was $0.3 million in Q2 2024 and $1.2 million for the six months ended June 30, 2024.
Other income (loss) was $(0.4) million in Q2 2025, down from $2.9 million in Q2 2024, mainly due to changes in warrant liabilities and lower net interest income.
Outlook and guidance
Proceeds from the private placement are expected to fully fund the pivotal Phase 2b SAFEGUARD study and extend cash runway into mid-2028.
Existing resources expected to cover operating cash needs for at least twelve months post-report.
Anticipates continued net losses as clinical development progresses; expects R&D expenses to increase with advancement of SAB-142 into Phase 2b and other pipeline activities.
Final Phase 1 data for SAB-142 anticipated in Q4 2025; pivotal Phase 2b study to begin in Q3 2025.
Exploring additional funding options and potential partnerships for pipeline development.
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