SAB Biotherapeutics(US:SABS) Newsfilter·2024-05-20 21:45Core Insights - SAB Biotherapeutics, Inc. is focused on developing human anti-thymocyte immunoglobulin (hIgG) to delay the onset or progression of type 1 diabetes (T1D) [1][5] - The company reported financial results for Q1 2024, highlighting a net loss of $4.0 million and a cash position of $45.2 million as of March 31, 2024 [4][6] Company Updates - The company appointed Dr. Jay Skyler, a renowned T1D expert, to its Board of Directors, increasing the board size to 11 members, with 9 being independent [2] - SAB has transitioned its corporate headquarters to Miami, FL, while maintaining its Research and Development Campus in South Dakota [2] Pipeline and Milestones - SAB's partnership with INNODIA was showcased at an annual meeting in Belgium, where updates on SAB-142 were presented to global T1D partners [3] - The Phase 1 clinical development of SAB-142 is on track, with the third cohort fully enrolled and dosed without any observed serum sickness [3] Financial Performance - Cash, cash equivalents, and available-for-sale securities totaled $45.2 million as of March 31, 2024, down from $56.6 million as of December 31, 2023, primarily due to ongoing research expenses [6] - Research and Development expenses increased to $7.1 million in Q1 2024 from $4.5 million in Q1 2023, reflecting a focus on the autoimmunity space with SAB-142 [6] - General and Administrative expenses rose to $4.2 million in Q1 2024 from $3.4 million in Q1 2023, driven by increased headcount to support research activities [6] - Non-operating income surged to $6.4 million in Q1 2024 from $48,000 in Q1 2023, mainly due to changes in fair value of warrant liabilities and an Australian research and development tax credit [6] - The net loss for Q1 2024 was $4.0 million, translating to an earnings per share of $(0.43), compared to a net loss of $7.4 million and $(0.15) per share in Q1 2023 [6]