SIOUX FALLS, S.D., Aug. 21, 2023 (GLOBE NEWSWIRE) — SAB Biotherapeutics (Nasdaq: SABS), (SAB), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that produces specifically targeted, high-potency, fully-human immunoglobulins (hIgG), also known as fully-human polyclonal antibodies, without the need for human donors, today reported financial results for the second quarter ended June 30, 2023, and provided a company update.
“We are pleased to share the significant progress achieved during the second quarter of 2023. Our commitment to advancing transformative immunotherapies remains unwavering, with a renewed strategic focus on Type 1 Diabetes through our SAB-142 program, a first-in-class fully human immunotherapeutic being developed for delaying onset and progression of Type 1 Diabetes. SAB-142 is a purified, fully human polyclonal anti-thymocyte globulin (hATG), which we believe is a promising solution for the limitations and side effects often associated with existing rabbit-derived ATG treatments. The promising safety and pharmacologic data from the GLP toxicology study for SAB-142, presented at the Federation of Clinical Immunology Societies conference, underscored its potential to reshape diabetes treatment,” said Eddie J. Sullivan, Ph.D., Co-Founder, President, and Chief Executive Officer of SAB Biotherapeutics. “Our recent R&D Day, featuring SAB-142 as a centerpiece, further solidified our dedication to addressing autoimmune disorders with significant unmet needs. Furthermore, our influenza therapy, SAB-176, was highlighted at prominent industry events like the BIO 2023 International Convention and the International Society for Influenza and Other Respiratory Virus Diseases conference. Additionally, we achieved a regulatory milestone with FDA approval for five sections of our New Animal Drug Application (NADA), a pivotal step for our DiversitAb™ production system and hIgG antibody investigational drugs. As we continue to navigate dynamic medical landscapes, we remain steadfast in our mission to deliver impactful immunotherapies for the betterment of patients worldwide.”
Pipeline Updates and Anticipated Milestones
SAB continues to execute on its strategy for the development of proprietary immunotherapeutic fully-human antibodies, or fully-human immunoglobulins (hIgGs), to treat and prevent immune and autoimmune disorders with a strategic focus on Type-1 Diabetes disease modification.
SAB-142: Type 1 Diabetes
SAB-176: Influenza
SAB-185: COVID-19
Regulatory:
Audit/Compliance:
Q2 2023 Financial Results
Financial Guidance: Based on its current operating plans, SAB reaffirms that it expects its existing business plan, cash and cash equivalents, and anticipated cash flows will be sufficient to fund its operating expenses and capital expenditure requirements through October 2023.
About SAB Biotherapeutics, Inc.
SAB Biotherapeutics, Inc. (SAB) is a clinical-stage biopharmaceutical company focused on the development of powerful and proprietary immunotherapeutic polyclonal human antibodies to treat and prevent infectious diseases and immune and autoimmune disorders. Our development programs include infectious diseases resulting from outbreaks and pandemics, as well as immunological, gastroenterological, and respiratory diseases that have significant mortality and health impacts on immune compromised patients. SAB has applied advanced genetic engineering and antibody science to develop Transchromosomic (Tc) Bovine™. Our versatile DiversitAb™ platform is applicable to a wide range of serious unmet needs in human diseases. It produces natural, specifically targeted, high-potency, fully-human polyclonal immunotherapies without the need for human donors. SAB currently has multiple drug development programs underway and collaborations with the US government and global pharmaceutical companies. For more information on SAB, visit: https://www.SAb.bio/ and follow SAB on Twitter and LinkedIn.
Forward-Looking Statements
Certain statements made herein that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events, the development and efficacy of our influenza program, C. diff. program, type 1 diabetes program, and other discovery programs, the results, including timing, of the development of SAB-176, SAB-185, and SAB-142, including SAB-176 Fast Track designation and Breakthrough Therapy designation, and the outcome of potential future government and other third-party collaborations or funded programs.
These statements are based on the current expectations of SAB and are not predictions of actual performance, and are not intended to serve as, and must not be relied on, by any investor as a guarantee, prediction, definitive statement, or an assurance, of fact or probability. These statements are only current predictions or expectations, and are subject to known and unknown risks, uncertainties and other factors which may be beyond our control. Actual events and circumstances are difficult or impossible to predict, and these risks and uncertainties may cause our or our industry’s results, performance, or achievements to be materially different from those anticipated by these forward-looking statements. A further description of risks and uncertainties can be found in the sections captioned “Risk Factors” in our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other filings with or submissions to, the U.S. Securities and Exchange Commission, which are available at https://www.sec.gov/. Except as otherwise required by law, SAB disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events, or circumstances or otherwise.
CONTACTS
Investor Relations:
Matt@milestone-advisorsllc.com
Media Relations:
SABPR@westwicke.com
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