MIAMI, May 09, 2025 (GLOBE NEWSWIRE) -- SAB BIO (Nasdaq: SABS), ("SAB BIO" or the "Company"), a clinical-stage biopharmaceutical company with a novel immunotherapy platform that is developing human anti-thymocyte immunoglobulin (hIgG) for delaying the onset or progression of type 1 diabetes (T1D), today announced financial results for the quarter ending March 31, 2025, and reported on recent developments.
Samuel J. Reich, Chairman and CEO of SAB BIO, stated, "We have made strong progress this quarter on our corporate strategy and mission to deliver a transformational therapy that can halt or delay the progression of type 1 diabetes. Based on our recent positive Phase 1 topline data for SAB-142, we have seen accelerating momentum across the T1D landscape regarding the therapeutic potential of SAB-142."
Recent Pipeline Developments
- In April 2025, SAB BIO concluded patient dosing in the last cohort of the Phase 1 clinical study of SAB-142.
Corporate Updates from Q1 2025
- FY 2024 budget initiatives are now contributing to cost savings focusing on improvements to the Company's manufacturing processes for scaled-batch manufacturing. The Company anticipates these initiatives will contribute to continued efficiencies across the Company's financial performance in 2025.
- The Company has successfully obtained a Qualified Person (QP) declaration for SAB BIO's in-house CMC manufacturing process for SAB-142. This milestone represents a key cGMP compliance achievement enabling SAB BIO to meet European manufacturing standards for an investigational medical drug product (IMPD) designated for upcoming clinical trials in the EU.
Q1 2025 Financial Results
- SAB BIO held cash and equivalents of $12.9 million as of March 31, 2025, compared to $20.8 million as of December 31, 2024.
- R&D expenses were $7.7 million and $8.1 million for the three months ended March 31, 2025 and March 31, 2024, respectively. The modest decline resulted from the fluctuation of priority spending for the SAB-142 program, a disease-modifying human hIgG aimed at preventing onset or disease progression of T1D.
- General and administrative expenses were $3.1 million and $4.2 million for the three months ended March 31, 2025 and March 31, 2024, respectively. This decrease was driven by reduced payroll related costs and professional fees in order to prioritize the Company's continued research activities and development of its product candidates.
- Other income of $5.6 million and $6.4 million for the three months ended March 31, 2025 and March 31, 2024, respectively. This decrease was primarily due to the change in fair value of warrant liabilities and reduced net interest income.
- SAB BIO reported a net loss of $5.2 million and $5.0 million for the three months ended March 31, 2025 and March 31, 2024, respectively.
About SAB BIO
SAB BIO (SAB) is a clinical-stage biopharmaceutical company focused on developing human, multi-targeted, high-potency immunoglobulins (IgGs), without the need for human donors or convalescent plasma, to treat and prevent immune and autoimmune disorders. The Company's lead asset, SAB-142, targets T1D with a disease-modifying therapeutic approach that aims to change the treatment paradigm by delaying onset and potentially preventing disease progression. Using advanced genetic engineering and antibody science to develop Transchromosomic (Tc) Bovine, the only transgenic animal with a human artificial chromosome, SAB BIO's drug development production system is able to generate a diverse repertoire of specifically targeted, high-potency, human IgGs that can address a wide range of serious unmet needs in human diseases without the need for convalescent plasma or human donors. For more information on SAB BIO, visit: https://www.SAB.bio/ and follow SAB BIO on Twitter/X and LinkedIn.
Forward-Looking Statements
Certain statements made in this current report 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," "to be," "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, including, the data, development, clinical results, and efficacy of our T1D program and other discovery programs, the Company's ability to raise additional funds on favorable terms, financial projections and future financial and operating results (including estimated cost savings and cash runway), the impact of existing or potential tariffs or changes to federal government priorities on the Company's business and operations, and the outcome of current or potential future government and other third-party collaborations or funded programs.
These statements are based on the current expectations of SAB BIO 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, as may be amended or supplemented from time to time, 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 BIO 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
Media Relations:
Kaelan Hollon
Vice President of Communications
khollon@sab.bio
Investor Relations:
Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com
Chris Calabrese
LifeSci Advisors
ccalabrese@lifesciadvisors.com
