SAB Biotherapeutics, Inc.

Listed Company

SABSCIK 0001833214NasdaqEmerging GrowthBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

Net Income

$13.27M

Total Assets

$172.81M

Equity

$151.49M

Shares Out

76.46M

Op. Cash Flow

$-44.78M

SABS$3.55+24.56% · past yearDBEQ Basic

Daily closing prices

Business

SAB Biotherapeutics is a clinical-stage biopharmaceutical company developing multi-specific, fully human immunoglobulin G (hIgG) antibodies to treat autoimmune and immune disorders. The company's lead candidate, SAB-142, is a human anti-thymocyte globulin targeting type 1 diabetes, currently in Phase 2b clinical trials (SAFEGUARD study). SAB Biotherapeutics uses proprietary transchromosomic cattle (Tc-Bovine) technology to produce human immunoglobulins without human plasma donors, enabling large-scale manufacturing of targeted, polyclonal antibodies. The company operates manufacturing and research facilities in Sioux Falls, South Dakota, and conducts global clinical development.

Summary from 10-K filed 2026-03-09

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	0	1	2	24	61
Research and development	34	30	17	36	57
General and administrative	15	14	24	16	17
Total operating expenses	49	44	40	53	74
Loss from operations	−49	−43	−38	−29	−13
Changes in fair value of warrant liabilities	63	5	−5	10	−4
Interest expense	−240,664	−318,401	−315,284	—	—
Interest income	1	1	584,966	71,072	23,115
Other income	3	2	435,089	33,754	—
Warrant issuance expense	−5	0	—	—	—
Total other income	62	9	−4	10	−4
Net income (loss)	13	−34	−42	−19	−17
Unrealized gain, change in fair value of available-for-sale securities, net of tax	185,464	647	—	—	—
Foreign currency translation gain (loss)	136,456	−162,477	26,420	—	—
Total comprehensive income (loss)	14	−34	−42	−19	—
Basic income (loss) per common share	0.22	−3.68	−7.64	−4.31	−0.63
Diluted loss per common share	−0.79	−3.68	−7.64	−4.31	−0.63
Weighted-average common shares outstanding - basic	19	9	6	4	27
Weighted-average common shares outstanding - diluted	61	9	6	4	27

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2022 2022-06-30
Cash and cash equivalents	11	9	57	15	17
Short-term investments	86	12	0	—	—
Accrued interest receivable	900,000	100,000	0	—	—
Prepaid expenses and other current assets	4	3	2	1	—
Total current assets	101	24	59	22	28
Deferred issuance cost	200,000	300,000	0	—	—
Long-term prepaid assets	5	220,997	350,230	467,694	535,082
Long-term investments	47	—	—	—	—
Operating lease right-of-use assets	3	970,294	1	1	2
Financing lease right-of-use assets	3	4	4	4	4
Property, plant and equipment, net	13	15	20	23	25
Total assets	173	44	84	51	59
Accounts payable	3	2	945,927	4	5
Notes payable	0	275,849	1	772,665	278,441
Accrued expenses and other current liabilities	7	5	7	10	10
Operating lease liabilities, current portion	797,402	393,430	669,946	490,794	1
Finance lease liabilities, current portion	153,967	142,563	132,004	132,788	140,767
Total current liabilities	11	8	11	15	16
Operating lease liabilities, noncurrent	2	581,148	635,777	361,225	1
Finance lease liabilities, noncurrent	3	3	3	4	4
Warrant liabilities	6	6	12	320,930	1
Total liabilities	21	18	27	20	22
Commitments and contingencies (Note 18)	—	—	—	—	—
Common stock; $0.0001 par value; 800,000,000 shares authorized at December 31, 2025 and December 31, 2024; 47,664,564 and 9,343,533 shares issued at December 31, 2025 and December 31, 2024, respectively, and 47,609,899 and 9,288,868 outstanding at December 31, 2025 and December 31, 2024, respectively	4,766	935	929	510	4,358
Treasury stock, at cost; 54,665 shares held at December 31, 2025 and December 31, 2024, respectively	−6	−6	−6	−6	−6
Additional paid-in capital	268	156	153	84	76
Accumulated other comprehensive income (loss)	186,510	−135,410	26,420	—	—
Accumulated deficit	−111	−124	−90	−48	−33
Total stockholders' equity	151	26	57	31	37
Total liabilities and stockholders' equity	173	44	84	51	59

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	5	4	3	1
Amortization of finance right-of-use assets	100,000	100,000	100,000	100,000	—
Stock-based compensation expense	5	3	2	3	2
Net realized and unrealized gain on investment in short-term securities	−73,967	—	—	—	—
Accretion of discounts on short-term investments	−88,631	−237,093	—	—	—
Write-off of deferred issuance costs	261,105	—	—	—	—
Accrued interest receivable	−891,826	−54,955	—	—	—
Prepaid expenses and other current assets	−5	−590,461	−523,610	—	—
Operating lease right-of-use assets and liabilities, net	67,420	−23,458	387,299	—	—
Accounts payable	1	923,323	−3	−779,425	−3
Deferred grant income	—	−1	1	−100,000	0
Accrued expense and other current liabilities	941,524	−1	−2	−3	3
Net cash used in operating activities	−45	−34	−25	−23	2
Proceeds from the sale of equipment	500	—	44,450	76,390	0
Purchases of equipment	−933,156	−337,262	−197,154	−2	−11
Purchases of investment securities	−142	−37	—	—	—
Sales and maturities of investments	21	26	—	—	—
Net cash used in investing activities	−122	−12	−152,704	−2	−11
Proceeds from the 2025 PIPE, net of Series B issuance costs	169	—	—	—	—
Payment of deferred issuance costs	−758	−261,105	—	—	—
Proceeds from issuance of notes payable	—	515,986	765,194	1	−3
Principal payments of notes payable	−275,849	−1	−1	−2	−1
Principal payments on finance leases	−142,563	−132,003	−126,985	−161,055	−203,124
Proceeds from exercise of stock options	—	20,409	9,582	76,971	6,750
Tax payments for share settlement of restricted stock units	−11,205	−24,931	—	—	—
Net cash provided by (used in) financing activities	168	−1	67	1	36
Effect of exchange rate changes on cash and cash equivalents	−213,497	−241,198	18,144	—	—
Net increase (decrease) in cash and cash equivalents	2	−48	42	−24	27
Cash paid for interest	242,032	373,954	245,481	293,392	294,459
Right-of-use assets obtained in exchange for operating lease liabilities	2	368,425	993,811	65,088	505,187
Deferred issuance costs included in accrued expenses	149,387	—	—	—	—
Reclassification of warrants from liability to equity	91	—	—	—	—
Reclassification of Redeemable Preferred Stock to Permanent Equity upon Requisite Approval	16	—	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is SAB Biotherapeutics, Inc.'s CIK number?

SAB Biotherapeutics, Inc.'s SEC CIK number is 0001833214 (1833214). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find SAB Biotherapeutics, Inc.'s SEC filings?

All of SAB Biotherapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did SAB Biotherapeutics, Inc. last report earnings?

SAB Biotherapeutics, Inc. (SABS) most recently filed an earnings 8-K with the SEC on Mar 29, 2024, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000950170-24-038429). This is SAB Biotherapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is SAB Biotherapeutics, Inc.'s most recent earnings 8-K?

SAB Biotherapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed Mar 29, 2024 under accession 0000950170-24-038429. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View SAB Biotherapeutics, Inc.'s latest earnings 8-K →
Look up any company's CIK number →