SAB BIO Reports Full Year 2024 Operating and Financial Results

Core Insights - SAB BIO announced positive topline data for SAB-142, indicating its potential as a best-in-class disease-modifying therapy for Type 1 Diabetes (T1D) [2][6] - The company is set to advance its development program and begin enrolling patients in a Phase 2b trial for SAB-142 in mid-2025 [2][6] Recent Pipeline Developments - The Phase 1 clinical trial of SAB-142 met its primary objectives related to safety and pharmacodynamic activity, allowing progression to Phase 2b [6] - The U.S. FDA granted clearance for the investigational new drug (IND) application for SAB-142 on May 21, 2024 [6] - A clinical advisory board was established to provide expert guidance for the development of SAB-142 [6] Corporate Updates from Fiscal Year 2024 - Lucy To was appointed as Chief Financial Officer on July 31, 2024 [6] - Jay Skyler, MD, MACP, FRCP, joined SAB BIO's Board of Directors on May 6, 2024 [6] - Samuel J. Reich expanded his role as Chief Executive Officer on February 2, 2024 [6] Fiscal Year 2024 Financial Results - SAB BIO reported cash and equivalents of $20.8 million as of December 31, 2024, down from $56.6 million a year earlier [6] - Research and development expenses increased to $30.3 million in 2024 from $16.5 million in 2023 [6] - General and administrative expenses decreased to $14.0 million in 2024 from $23.8 million in 2023 [6] - The company reported a net loss of $34.1 million for the year ended December 31, 2024, compared to a net loss of $42.2 million in 2023 [6]