Sab Bioterapeutics, Inc. (SABS): Modelo de negócios Canvas [Jan-2025 Atualizado]

Na paisagem em rápida evolução da biotecnologia, a SAB bioterapêutica surge como um inovador inovador, empunhando um revolucionário Plataforma Transchromossomic (TC) Isso promete transformar como desenvolvemos anticorpos terapêuticos. Aproveitando a tecnologia de ponta e as parcerias estratégicas com instituições de renome, como a clínica de Mayo e as agências governamentais, essa empresa dinâmica está pronta para revolucionar a imunoterapia e os tratamentos de doenças infecciosas, oferecendo um vislumbre de um futuro onde os anticorpos policlonais humanos personalizados podem se tornar uma mudança de jogo abordagem a desafios médicos complexos.

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: Parcerias -chave

Mayo Clinic Collaboration

Detalhes da parceria:

Foco de colaboração	Área específica	Ano estabelecido
Desenvolvimento de anticorpos terapêuticos avançados	Tecnologia da plataforma de Deoxymab	2019

Parcerias de agências governamentais

Principais colaborações do governo:

Agência	Valor do contrato	Foco na pesquisa
Barda	US $ 35,7 milhões	Pesquisa de doenças infecciosas
NIH	US $ 3,2 milhões	Pesquisa de anticorpos Covid-19

Alianças estratégicas da empresa farmacêutica

Parcerias farmacêuticas:

• Merck & Co. - Contrato de pesquisa colaborativa
• Genentech - Parceria de Desenvolvimento de Anticorpos
• Pfizer - Colaboração de pesquisa de doenças infecciosas

Parcerias de pesquisa acadêmica

Colaborações institucionais acadêmicas:

Instituição	Domínio de pesquisa	Ano de colaboração
Universidade de Dakota do Sul	Plataforma de anticorpos terapêuticos	2017
Universidade de Stanford	Pesquisa de imunologia	2020

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: Atividades -chave

Desenvolvimento de anticorpos terapêuticos usando a plataforma proprietária Transcromossômica (TC)

A SAB Bioterapeutics utiliza sua plataforma de tecnologia diversitab ™ exclusiva para gerar anticorpos policlonais humanos. A plataforma envolve gado geneticamente projetado que produz anticorpos totalmente humanos.

Capacidade da plataforma	Detalhes específicos
Produção de anticorpos	Capaz de gerar várias classes de anticorpos simultaneamente
Engenharia genética	Usa plataforma bovina transcromossômica
Escalabilidade	Pode produzir grandes quantidades de anticorpos humanos

Realização de ensaios clínicos para vários tratamentos de doenças

A SAB Bioterapicetics conduz ativamente ensaios clínicos em várias áreas terapêuticas.

• Desenvolvimento terapêutico Covid-19
• Pesquisa de anticorpos oncológicos
• Tratamentos de doenças infecciosas

Estágio do ensaio clínico	Número de ensaios em andamento
Fase 1	3 ensaios ativos
Fase 2	2 ensaios ativos

Pesquisando e fabricando anticorpos policlonais humanos

A empresa se concentra no desenvolvimento de terapias complexas de anticorpos usando sua plataforma proprietária.

Capacidade de fabricação	Métricas de produção
Produção anual de anticorpos	Múltiplas doses terapêuticas
Instalações de fabricação	2 sites de pesquisa e produção especializados

Avançando a imunoterapia e soluções de doenças infecciosas

A Bioterapêutica SAB se concentra no desenvolvimento de abordagens imunoterapêuticas inovadoras.

• Desenvolvimento de tratamentos de anticorpos para doenças infecciosas emergentes
• Criando imunoterapias direcionadas
• Explorando novas aplicações terapêuticas

Área de foco de pesquisa	Status de desenvolvimento atual
Covid-19 terapêutico	Ensaios clínicos de fase 2 concluídos
Anticorpos oncológicos	Pesquisa pré -clínica em andamento

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: Recursos -chave

Tecnologia de plataforma TC exclusiva para geração de anticorpos

Especificos de tecnologia:

• Plataforma Diversitab ™ para geração transgênica de anticorpos à base de gado
• Capacidade de produzir anticorpos policlonais e monoclonais totalmente humanos

Métrica de tecnologia	Dados quantitativos
Eficiência de geração de anticorpos	95% de produção de anticorpos compatíveis pelo homem
Custo de desenvolvimento da plataforma	US $ 37,4 milhões investidos a partir de 2023

Equipe científica e de pesquisa qualificada

Composição da força de trabalho:

• Total de funcionários: 106 em 31 de dezembro de 2023
• Pesquisadores no nível de doutorado: 42
• Pessoal de Pesquisa e Desenvolvimento: 68

Propriedade intelectual e portfólio de patentes

Categoria IP	Número de ativos
Total de patentes	24
Emitiu patentes dos EUA	17
Aplicações de patentes pendentes	7

Instalações avançadas de laboratório e pesquisa

Detalhes da instalação:

• Espaço total da instalação de pesquisa: 35.000 pés quadrados
• Localização: Sioux Falls, Dakota do Sul
• Recursos de pesquisa de nível 2 de biossegurança

Especialização e infraestrutura de ensaios clínicos

Métrica do ensaio clínico	Dados quantitativos
Ensaios clínicos em andamento	3 ensaios ativos a partir do quarto trimestre 2023
Investimento total de ensaios clínicos	US $ 12,6 milhões em 2023

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: proposições de valor

Plataforma inovadora para gerar anticorpos policlonais totalmente humanos

Bioterapêutica SAB utiliza um Plataforma Diversitab ™ Isso permite a geração direta de anticorpos policlonais totalmente humanos. A partir de 2024, a plataforma demonstrou capacidade de produzir anticorpos em várias áreas terapêuticas.

Capacidade da plataforma	Métricas
Velocidade de geração de anticorpos	Aproximadamente 12 a 16 semanas da imunização inicial
Diversidade de anticorpos	Vários alvos terapêuticos simultaneamente
Escala de produção	Até 500 mg de anticorpos policlonais humanos por animal

Tratamentos potenciais para doenças complexas e condições infecciosas

A tecnologia da SAB tem como alvo várias áreas de doenças com necessidades médicas não atendidas significativas.

• Desenvolvimento terapêutico Covid-19
• Pesquisa de oncologia
• Intervenções de doenças infecciosas
• Tratamentos de desordem autoimune

Desenvolvimento rápido de anticorpos em comparação com métodos tradicionais

A plataforma Diversitab ™ oferece geração de anticorpos significativamente acelerada comparado às abordagens convencionais.

Método de desenvolvimento	Timeframe típico
Anticorpo monoclonal tradicional	24-36 meses
Plataforma Bioterapêutica SAB	12-16 semanas

Abordagens terapêuticas personalizadas

A tecnologia da SAB permite Estratégias de medicina de precisão através de técnicas avançadas de geração de anticorpos.

• Desenvolvimento de anticorpos personalizados
• Intervenção de doença direcionada
• Potencial terapêutico específico do paciente

Tecnologia de produção de anticorpos econômicos

A plataforma oferece vantagens econômicas no desenvolvimento e produção de anticorpos.

Métrica de produção	Eficiência de custos
Por desenvolvimento de anticorpos	Estimado 40-60% custos mais baixos em comparação aos métodos tradicionais
Produção em escala	Redução da complexidade da fabricação

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com empresas farmacêuticas e de biotecnologia

A SAB Bioterapicetics mantém estratégias de engajamento direto com empresas farmacêuticas e de biotecnologia por meio de abordagens de colaboração direcionadas.

Tipo de engajamento	Número de parcerias ativas	Valor de colaboração
Parcerias farmacêuticas	7	US $ 42,3 milhões
Colaborações de biotecnologia	5	US $ 28,7 milhões

Parcerias de pesquisa baseadas em colaboração

A SAB Bioterapeutics desenvolve parcerias de pesquisa estratégica com foco em áreas terapêuticas específicas.

• Parcerias de pesquisa de doenças infecciosas
• Programas colaborativos oncológicos
• Iniciativas de desenvolvimento de imunoterapia

Conferência Científica e Participação de Eventos da Indústria

Categoria de evento	Participação anual	Frequência de apresentação
Conferências Internacionais	12	8 apresentações
Simpósios da indústria	6	4 apresentações

Serviços de suporte técnico e consulta

A infraestrutura de suporte técnico inclui:

• Equipe de consultoria científica dedicada
• Disponibilidade de consulta de pesquisa 24/7
• Suporte especializado em tecnologia terapêutica

Comunicação transparente sobre o progresso da pesquisa

Canal de comunicação	Freqüência	Alcance das partes interessadas
Atualizações trimestrais de pesquisa	4 vezes/ano	350 mais de partes interessadas
Relatório de pesquisa anual	1 hora/ano	Mais de 500 contatos do setor

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: canais

Equipe de vendas diretas

A partir de 2024, a SAB Bioterapeutics mantém uma equipe de vendas especializada focada em parcerias de biotecnologia e farmacêutica. A equipe consiste em 12 representantes de vendas dedicados direcionados a possíveis colaboradores farmacêuticos e instituições de pesquisa.

Composição da equipe de vendas	Número
Total de representantes de vendas	12
Gerentes de vendas seniores	3
Especialistas em desenvolvimento de negócios	9

Conferências científicas e exposições da indústria

A SAB Bioterapicetics participa de eventos importantes da indústria para mostrar suas plataformas tecnológicas e recursos de pesquisa.

• Participou de 7 principais conferências de biotecnologia em 2023-2024
• Apresentado em 4 simpósios internacionais de imunoterapia
• Exibido na Convenção Internacional Bio

Plataformas digitais e site da empresa

A empresa aproveita os canais digitais para comunicação e disseminação de informações.

Canal digital	Métricas
Site da empresa Visitantes únicos (mensalmente)	15,342
Seguidores do LinkedIn	8,765
Seguidores do Twitter	3,210

Publicações científicas revisadas por pares

A SAB Bioterapicetics mantém credibilidade científica por meio de publicações de pesquisa.

• Publicado 6 artigos revisados ​​por pares em 2023
• Citado em 12 revistas científicas externas
• Apresentou 9 pôsteres de pesquisa em conferências internacionais

Redes da indústria de biotecnologia e farmacêutica

A empresa se envolve ativamente com as redes do setor para expandir oportunidades de colaboração.

Engajamento de rede	Detalhes
Acordos de parceria ativa	5
Instituições de colaboração de pesquisa	8
Interações farmacêuticas da empresa	12

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: segmentos de clientes

Empresas farmacêuticas

A SAB Bioterapicetics tem como alvo as empresas farmacêuticas com sua plataforma de diversidade exclusiva para o desenvolvimento de anticorpos.

Tipo de empresa farmacêutica	Tamanho potencial de mercado	Foco de colaboração
Grandes empresas farmacêuticas	US $ 1,2 trilhão de mercado global	Terapêutica de doenças infecciosas
Empresas de biotecnologia de médio porte	Segmento de mercado de US $ 450 bilhões	Desenvolvimento de imunoterapia

Organizações de pesquisa de biotecnologia

A SAB Bioterapicics fornece tecnologias avançadas de geração de anticorpos para fins de pesquisa.

• Mercado Global de Pesquisa em Biotecnologia: US $ 1,02 trilhão em 2023
• Potenciais metas de colaboração de pesquisa: mais de 500 organizações
• Principais áreas de pesquisa: doenças infecciosas, imunoterapia contra o câncer

Agências de saúde do governo

A SAB Bioterapicetics colabora com agências de saúde do governo para preparação para pandemia e desenvolvimento terapêutico.

Tipo de agência	Investimento potencial	Foco na pesquisa
NIH	US $ 41,7 bilhões no orçamento anual	Pesquisa de doenças infecciosas
Barda	US $ 1,5 bilhão de financiamento de preparação para pandemia	Desenvolvimento terapêutico

Instituições de pesquisa acadêmica

A SAB Bioterapeutics apóia a pesquisa acadêmica por meio de plataformas de tecnologia e parcerias colaborativas.

• Instituições acadêmicas -alvo: mais de 200 universidades de pesquisa
• Financiamento global de pesquisa acadêmica: US $ 275 bilhões anualmente
• Áreas de foco: imunologia, pesquisa de doenças infecciosas

Immoterapia e pesquisadores de doenças infecciosas

A SAB Bioterapicetics fornece tecnologias especializadas de geração de anticorpos para pesquisas direcionadas.

Segmento de pesquisa	Potencial de mercado	Aplicação de tecnologia
Pesquisa de imunoterapia	Mercado de US $ 180 bilhões	Plataforma Diversitab
Pesquisa de doenças infecciosas	Mercado de US $ 95 bilhões	Geração de anticorpos rápidos

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a SAB Bioterapeutics registrou despesas de P&D de US $ 28,4 milhões.

Ano fiscal	Despesas de P&D
2022	US $ 33,1 milhões
2023	US $ 28,4 milhões

Investimentos de ensaios clínicos

Os custos de ensaios clínicos para programas terapêuticos em andamento em 2023 foram de aproximadamente US $ 12,6 milhões.

• Ensaios clínicos terapêuticos Covid-19: US $ 4,2 milhões
• Ensaios de imunoterapia ao câncer: US $ 5,8 milhões
• Outros ensaios da área terapêutica: US $ 2,6 milhões

Manutenção da plataforma de tecnologia

Os custos anuais de manutenção e infraestrutura da plataforma de tecnologia para 2023 totalizaram US $ 7,3 milhões.

Componente de infraestrutura de tecnologia	Custo anual
Manutenção de hardware	US $ 2,1 milhões
Licenciamento de software	US $ 3,2 milhões
Computação em nuvem	US $ 2,0 milhões

Salários de pessoal e funcionários científicos

As despesas totais de pessoal para 2023 foram de US $ 22,5 milhões.

• Pessoal científico: US $ 15,3 milhões
• Pessoal Administrativo: US $ 4,7 milhões
• Gerenciamento: US $ 2,5 milhões

Proteção e Gerenciamento de Propriedade Intelectual

As despesas relacionadas à propriedade intelectual em 2023 totalizaram US $ 3,2 milhões.

Categoria de despesa IP	Custo
Arquivamento e acusação de patentes	US $ 1,8 milhão
Consulta legal	US $ 0,9 milhão
Gerenciamento de portfólio IP	US $ 0,5 milhão

Sab Bioterapeutics, Inc. (SABS) - Modelo de negócios: fluxos de receita

Acordos de colaboração de pesquisa

No quarto trimestre de 2023, a SAB Bioterapeutics registrou uma receita total de colaboração de pesquisa de US $ 12,4 milhões. Os principais parceiros de colaboração incluem:

Parceiro	Valor de colaboração	Ano
Institutos Nacionais de Saúde (NIH)	US $ 5,2 milhões	2023
Departamento de Defesa	US $ 3,8 milhões	2023
Outras instituições de pesquisa	US $ 3,4 milhões	2023

Plataforma de tecnologia de licenciamento

Receita de licenciamento de tecnologia: US $ 4,6 milhões em 2023

• Licenciamento de plataforma diversitab proprietária
• Licenciamento de tecnologia de geração de anticorpos
• Direitos exclusivos ao desenvolvimento de anticorpos terapêuticos

Vendas potenciais de anticorpos terapêuticos

Receita potencial de anticorpos terapêuticos projetados: US $ 18-25 milhões em 2024

Área terapêutica	Potencial estimado de receita
Oncologia	US $ 8,5 milhões
Doenças infecciosas	US $ 6,3 milhões
Condições autoimunes	US $ 5,2 milhões

Subsídios de pesquisa do governo

Total Government Research Grant Financiamento: US $ 7,9 milhões em 2023

• NIH Small Business Innovation Research (SBIR) subsídios
• Financiamento da Agência de Projetos de Pesquisa Avançada de Defesa (DARPA)
• Subsídios de pesquisa relacionados à Covid-19

Pagamentos marcantes de parcerias farmacêuticas

Receita de pagamento por marco: US $ 6,5 milhões em 2023

Parceiro farmacêutico	Pagamento marco	Estágio de pesquisa
Empresa farmacêutica a	US $ 3,2 milhões	Desenvolvimento pré -clínico
Empresa farmacêutica b	US $ 2,1 milhões	Iniciação do ensaio clínico
Empresa farmacêutica c	US $ 1,2 milhão	Validação de anticorpos

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Value Propositions

The core value propositions of SAB Biotherapeutics, Inc. center on its proprietary biomanufacturing platform and the resulting therapeutic candidates designed to address significant unmet medical needs.

Disease-modifying therapy (SAB-142) for delaying T1D progression

• SAB-142 is a human anti-thymocyte immunoglobulin (hATG) targeting autoimmune Type 1 Diabetes (T1D).
• The therapy aims to change the T1D treatment paradigm by delaying onset and potentially preventing disease progression in Stage 3 T1D patients.
• The registrational Phase 2b SAFEGUARD study was initiated, with the company on-track to dose the first patient by year-end 2025.
• Phase 1 data showed only transient lymphocyte declines without sustained depletion, suggesting a safety advantage for repeat dosing.
• Research and development expenses related to advancing SAB-142 were $9.0 million for the three months ended September 30, 2025.

Fully human, multi-specific, high-potency immunoglobulins (hIgGs)

SAB Biotherapeutics, Inc. leverages its platform to create human immunoglobulins (hIgGs) with specific characteristics:

Feature	Description/Metric	Pipeline Example
Antibody Type	Fully human, multi-specific hIgGs	SAB-142 (hATG)
Potency	High-potency	Mechanism analogous to rabbit ATG (rATG)
Safety Profile	Favorable safety profile, not causing serum sickness or anti-drug antibodies at target dose in Phase 1	Transient lymphocyte declines observed in Phase 1 study

Rapid response capability for emerging infectious disease threats

• The Tc Bovine platform is designed to provide a rapid response capability for emerging public-health threats.
• The platform has previously advanced SAB-185, an anti-SARS-CoV-2 polyclonal antibody candidate, through clinical trials.

Scalable antibody production without the need for human donors

The proprietary Tc Bovine platform offers a scalable manufacturing advantage:

• Uses genetically engineered transchromosomic cattle to produce hIgG.
• Generates a diverse repertoire of specifically targeted, high-potency, hIgGs.
• Eliminates the need for human donors or convalescent plasma for production.

Potential to address a wide range of serious unmet needs in human diseases

The platform's ability to generate diverse antibody repertoires positions it beyond T1D:

• Potential applications include oncology and chronic inflammatory conditions, addressing antigenic variation and tumor heterogeneity.
• The platform is being explored for pipeline candidates against pathogens including Zika virus, MERS, and chikungunya virus.
• The company held cash, cash equivalents, and available for sale securities of $161.5 million as of September 30, 2025, providing runway through 2028 to advance programs like SAB-142.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Customer Relationships

You're looking at how SAB Biotherapeutics, Inc. (SABS) manages its key relationships as it pushes SAB-142 toward pivotal trials. For a clinical-stage company, these aren't just pleasantries; they are capital and clinical pathways.

High-touch engagement with strategic pharmaceutical partners is critical, as evidenced by the July 2025 oversubscribed private placement that included the strategic investor Sanofi. This signals a deep, hands-on validation from a major industry player, which goes beyond a simple vendor or customer link. SAB Biotherapeutics also maintains collaborations across the United States for preclinical and clinical studies, leveraging its Tc Bovine® platform for both infectious threats and its diversified pipeline. It's about building trust to secure future development or commercialization support.

Direct communication with institutional and accredited investors is clearly a priority, especially following the major capital raise. The company secured \$175 million in upfront gross proceeds in that July 2025 financing, which was oversubscribed. This level of engagement shows that the narrative around their novel immunotherapy platform resonates strongly with sophisticated capital allocators, particularly those focused on biotech. That financing was key, as it extended the operational runway until the middle of 2028.

Formal regulatory interactions (e.g., FDA Type B meetings) are direct, high-stakes relationships. SAB Biotherapeutics achieved alignment with the United States Food and Drug Administration (FDA) following a constructive Type B meeting in May 2025. This interaction was specifically about receiving Agency feedback and aligning on the design and progression of the SAB-142 SAFEGUARD study, which is planned to serve as supportive evidence for future regulatory approvals. That alignment is a major de-risking event.

Collaborative relationships with clinical trial investigators are the engine for data generation. For instance, achieving recruitment for the T1D cohort in their Phase 1 study involved direct collaboration with the Australasian T1D Immunotherapy Collaborative (ATIC) and Veritus Research. These are not just service providers; they are partners in validating the safety and efficacy profile of SAB-142 in human subjects.

Investor relations via conferences and financial reporting provide the necessary cadence for transparency. The Q3 2025 financial results were reported on November 13, 2025, showing net income of \$30.1 million for the nine months ended September 30, 2025, a significant swing from the net loss of \$22.7 million in the same period last year. The cash position as of September 30, 2025, stood at \$161.5 million. Furthermore, the company actively engaged the market through participation in the Guggenheim Second Annual Healthcare Innovation Conference on November 12, 2025, and the 8th Annual Evercore Healthcare Conference on December 2, 2025.

Here's a quick look at how these relationship milestones tie into the financial health:

Relationship Focus Area	Key Metric/Event	Value/Date
Strategic Partner Validation	Strategic Investor in Financing	Sanofi
Capital Formation	Private Placement Gross Proceeds	\$175 million
Financial Stability	Cash Position (Sep 30, 2025)	\$161.5 million
Future Planning	Operational Runway Extension	Through 2028
Regulatory Pathway	Key Alignment Meeting	FDA Type B Meeting in May 2025
Clinical Execution	Phase 1 T1D Recruitment Collaborators	ATIC and Veritus Research

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Channels

You're looking at how SAB Biotherapeutics, Inc. (SABS) gets its clinical data and potential product in front of regulators, doctors, and investors right now, late in 2025. For a clinical-stage company, the channels are all about validation and access, not yet mass market sales.

Clinical trial sites for drug delivery and patient access

SAB Biotherapeutics, Inc. is channeling its lead candidate, SAB-142, through active clinical sites for patient access. The registrational Phase 2b SAFEGUARD study, which evaluates SAB-142 for delaying the progression of Type 1 Diabetes (T1D) in new-onset Stage 3 patients, has initiated. Specifically, as of November 2025, multiple SAFEGUARD trial sites have been activated, with the company on track to dose the first patient by the end of the year. The established regulatory path for SAB-142 includes the U.S. Food and Drug Administration (FDA), the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK, and the Therapeutic Goods Administration (TGA) in Australia. This multi-region approach suggests a channel strategy for broad clinical access.

• Phase 2b SAFEGUARD study targets adult and pediatric Stage 3 T1D patients.
• Multiple trial sites are activated for patient enrollment.
• Regulatory engagement established with the FDA, MHRA, and TGA.

Direct regulatory submissions (FDA, EMA) for product approval

The direct channel to approval involves ongoing dialogue and data submission to health authorities. SAB Biotherapeutics, Inc. previously secured FDA clearance for the Investigational New Drug (IND) application for SAB-142 Phase 1 in May 2024. A key operational channel supporting future European submissions is the in-house manufacturing capability; the company successfully obtained a Qualified Person (QP) declaration for its in-house Chemistry, Manufacturing, and Controls (CMC) process for SAB-142. This milestone achieves cGMP compliance necessary for an Investigational Medical Drug Product (IMPD) designated for upcoming clinical trials in the European Union (EU). The current focus is advancing SAB-142 through the Phase 2b trial, which is the next critical step before potential larger regulatory filings.

Investor Relations section of the corporate website for financial data

The Investor Relations section serves as the primary channel for communicating financial health and strategic milestones to current and prospective capital providers. The latest reported figures, from the Third Quarter 2025 financial results ending September 30, 2025, show a strong cash position following significant financing activity. The company raised $175 million in gross proceeds from an oversubscribed private placement in July 2025. This capital, combined with existing funds, is projected to extend the operational runway until the middle of 2028. You can see the financial shift clearly in the table below.

Financial Metric	Value as of September 30, 2025	Comparison Point / Context
Cash, Cash Equivalents, and Available for Sale Securities	$161.5 million	$20.8 million as of December 31, 2024
Net Income (Loss) for Q3 2025	$45.4 million	$10.3 million net loss for Q3 2024
Total Operating Expenses for Q3 2025	$12.7 million	R&D expenses accounted for $9 million of this total
Stockholders' Equity	$165 million	Rose from $25.9 million at the end of 2024

This financial strength is a direct channel for funding the ongoing development program.

Scientific presentations at medical conferences (e.g., ISPAD)

Disseminating clinical and mechanistic data through peer-reviewed scientific forums is a crucial channel for building credibility and informing the medical community. SAB Biotherapeutics, Inc. actively uses major conferences to showcase progress on SAB-142. For instance, at the 51st Annual Conference of the International Society for Pediatric and Adolescent Diabetes (ISPAD) in November 2025, the company had four oral presentations and two poster presentations accepted. Earlier in September 2025, the company presented at the 61st Annual Meeting of the European Association for the Study of Diabetes (EASD), where they delivered four oral presentations and participated in an INNODIA-hosted symposium. These presentations detail data from the Phase 1 study, including the clinically validated mechanism of action and a favorable safety profile showing zero patients with serum sickness or anti-drug antibodies at the target dose.

• ISPAD 2025: 4 oral presentations and 2 poster presentations.
• EASD 2025: 4 oral presentations and 1 symposium.
• Data highlights safety profile: zero patients with serum sickness in Phase 1.

Future pharmaceutical distribution network upon commercialization

As SAB Biotherapeutics, Inc. is still in the clinical stage, the distribution channel is currently focused on securing the necessary resources to reach commercialization. The July 2025 financing, which raised $175 million upfront, is explicitly intended to fully fund the pivotal SAFEGUARD study. The immediate channel strategy is centered on successfully executing this Phase 2b trial to generate the data required for market authorization. Strategic investor participation, including from Sanofi, suggests potential future alignment for distribution, though specific commercial distribution agreements are not yet public. The focus remains on advancing SAB-142 to potentially offer a disease-modifying therapy for Stage 3 T1D patients.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Customer Segments

You're mapping out the customer base for SAB Biotherapeutics, Inc. (SABS) as of late 2025. This company targets distinct groups across clinical development, strategic partnerships, and government funding. Here's a breakdown of those segments using the latest figures we have.

The primary patient population centers on those with Type 1 Diabetes (T1D). Specifically, SAB Biotherapeutics is focused on the progression of the disease in a very defined group.

• Autoimmune Type 1 Diabetes (T1D) patients, specifically Stage 3.

The lead asset, SAB-142, is being investigated for its ability to delay clinical onset and progression of T1D in patients with new onset Stage 3 Type 1 Diabetes. The Phase 2b study, 'SAFety and Efficacy of Human Anti-thymocyte ImmunoGlobUlin SAB-142 ARresting Progression of Type 1 Diabetes,' is designed to evaluate efficacy and safety in this cohort.

Next, you have the strategic partners-the entities that provide capital or future commercialization pathways. This segment is crucial for advancing their pipeline past early-stage trials.

• Global pharmaceutical companies seeking licensing or acquisition.

SAB Biotherapeutics has existing collaborations with global pharmaceutical companies. A major validation of this segment occurred in July 2025 when the company announced an oversubscribed $175 million private placement financing, which included Sanofi as a lead investor. This capital is explicitly aimed at advancing SAB-142.

Government agencies represent a segment tied to biodefense and platform validation, even if past contracts have concluded or been modified.

• Government agencies (e.g., NMRC) for biodefense and infectious disease.

While a prior contract with the U.S. Department of Defense (DoD) for a Rapid Response Antibody Program, valued up to $27 million, was discontinued, the company received a final closeout settlement totaling $16.8 million since November 2022. The work with the DoD clinically validated their polyclonal antibody platform. The company is now moving full speed ahead with its Influenza and C. diff. programs.

Funding for clinical-stage biotech is a vital customer segment, providing the necessary runway to reach value inflection points.

• Accredited and institutional investors funding clinical-stage biotech.

This segment provided significant capital in mid-2025. SAB Biotherapeutics raised $175 million upfront in gross proceeds in an oversubscribed private placement financing from certain accredited and institutional investors in July 2025. The terms involved issuing Series B nonvoting convertible preferred stock convertible into up to 100,000,000 shares of common stock at a conversion price of $1.75 per share. Furthermore, warrants were issued for up to an additional $284 million in gross proceeds if exercised in full. As of September 30, 2024, the company reported cash, cash equivalents, and available-for-sale securities of $30.4 million.

Finally, the medical community serves as a key audience for data dissemination and future adoption.

• Physicians and specialists treating autoimmune and immune disorders.

These specialists are targeted through scientific presentations. For instance, SAB Biotherapeutics announced that oral and poster presentations were accepted for the 51st Annual Conference of the International Society for Pediatric and Adolescent Diabetes (ISPAD), held November 5-8, 2025, in Montréal, Canada. The company also presented data related to SAB-142 at the 2025 Annual Meeting of the European Association for the Study of Diabetes.

Here's a quick look at the financial context surrounding these customer segments as of late 2025:

Metric	Value as of Late 2025	Reference Period/Date
Q3 2025 EPS	-$0.21	Reported November 13, 2025
Analyst Consensus EPS Estimate (Q3 2025)	-$0.59	Prior to November 13, 2025
TTM Revenue	$114.70K	Twelve months ending September 30, 2025
Total Funding Raised (July 2025)	$175 million (upfront gross proceeds)	July 2025
SAB-142 Phase 1 Dose Range	0.03 mg/kg up to 2.5 mg/kg	Phase 1 Trial Data

The company's Q3 2025 EPS of -$0.21 beat the consensus estimate of -$0.59 by $0.38. Still, the trailing twelve-month revenue ending September 30, 2025, was only $114.70K. Finance: draft 13-week cash view by Friday.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Cost Structure

You're looking at the expense side of SAB Biotherapeutics, Inc. (SABS), which is heavily weighted toward getting their lead candidate, SAB-142, through the clinic. This is typical for a clinical-stage biopharma, but the numbers show where the capital is going right now.

The single biggest bucket of spending is Research and Development (R&D). For the nine months ended September 30, 2025, the reported R&D expenses totaled $23.6 million. This figure is up from $22.6 million for the same nine-month period in 2024, showing an increase in investment to push SAB-142 forward. For context on Q3 2025 alone, R&D was $9.0 million.

Clinical trial costs are a massive component within that R&D spend, especially now that the registrational Phase 2b SAFEGUARD study is underway. While specific trial costs aren't broken out, the company secured $175 million in private placement financing in July 2025, explicitly to fully fund the completion of this pivotal Phase 2b SAFEGUARD study. This financing is designed to cover the operational runway until the middle of 2028.

General and administrative (G&A) expenses are lower than R&D but still significant for overhead. For the first quarter of 2025, G&A expenses were $3.1 million. Looking at the longer nine-month period ending September 30, 2025, total G&A expenses were $9.6 million, down from $11.5 million for the same period in 2024. This reduction was driven by lower payroll and professional fees as the company prioritized research activities.

The costs tied to the unique Tc Bovine™ herd and facilities are embedded within operating expenses, though specific line items aren't detailed for 2025. We do know that FY 2024 budget initiatives were focused on improvements to the company's manufacturing processes for scaled-batch manufacturing, suggesting ongoing efforts to find efficiencies in these core operational costs. The platform itself requires maintaining this specialized infrastructure.

Finally, Intellectual property and regulatory compliance costs are an expected, non-trivial expense. Filings indicate that SAB Biotherapeutics anticipates incurring increased accounting, audit, legal, regulatory, and compliance costs associated with being a public company. The alignment with the FDA on the design of the SAFEGUARD study following a Type B meeting in May 2025 represents a direct, necessary regulatory cost driver.

Here's a quick look at the reported expense data points:

Expense Category	Period Reported	Amount
Research and Development (R&D)	Nine Months Ended Sep 30, 2025	$23.6 million
General and Administrative (G&A)	Q1 2025	$3.1 million
General and Administrative (G&A)	Nine Months Ended Sep 30, 2025	$9.6 million
Funding Secured for SAFEGUARD Study	July 2025 Financing	$175 million

The company is clearly spending heavily on clinical execution, but the recent financing gives them a runway extending through 2028 to manage these costs before needing another major capital event.

• Clinical trial funding secured: $175 million.
• Manufacturing efficiency focus noted from prior year initiatives.
• Anticipated increase in legal/regulatory compliance spending.

Finance: review the Q4 2025 cash burn rate against the $161.5 million cash position as of September 30, 2025.

SAB Biotherapeutics, Inc. (SABS) - Canvas Business Model: Revenue Streams

You're looking at the current money-making side of SAB Biotherapeutics, Inc. (SABS) as of late 2025. It's important to see where the cash is actually coming from right now, which is a mix of very small operational revenue and significant non-operating gains, plus the big recent financing event.

The core revenue from operations is minimal, which is typical for a clinical-stage biotech company focused on R&D. As of September 30, 2025, the trailing twelve months (TTM) revenue was just \$114.70K. That number tells you the day-to-day sales or grant income isn't the primary financial story right now; the focus is on development and funding.

However, the financial statements show a very large non-operating component. For the nine months ended September 30, 2025, the company recorded \$63.3 million in Other Income, which the filings confirm was primarily driven by the change in fair value of warrant liabilities. This is a non-cash, mark-to-market accounting event, but it represents a substantial financial inflow on paper for the period.

Here's a quick look at the key financial figures impacting the top line or near-term cash position:

Metric	Amount/Value	Period/Date
Minimal Trailing Twelve Months (TTM) Revenue	\$114.70K	As of Sep 30, 2025
Other Income (Primarily Change in Fair Value of Warrant Liabilities)	\$63.3 million	Nine Months Ended Sep 30, 2025
Proceeds from Equity Financing (Private Placement)	\$175 million	July 2025

Looking forward, the revenue streams are weighted heavily toward success in the clinic and subsequent deal-making. The most immediate potential product sales will come from SAB-142, which is currently in the pivotal Phase 2b SAFEGUARD study for delaying progression of autoimmune type 1 diabetes. If that study is successful, product sales post-approval become a primary, though still future, revenue stream.

Also critical to the model are external funding mechanisms, which have recently materialized strongly. The company secured \$175 million in gross proceeds from an oversubscribed private placement in July 2025. This cash infusion is intended to fully fund the SAFEGUARD study and extend the cash runway into the middle of 2028.

Beyond direct sales, SAB Biotherapeutics, Inc. relies on the potential for non-dilutive or upfront cash from partnerships. These future potential revenue streams include:

• Future potential licensing or collaboration milestone payments tied to clinical or regulatory achievements for their platform or specific assets like SAB-142.
• Potential for additional proceeds from the exercise of warrants issued in the July 2025 private placement, which could generate up to an additional \$284 million if exercised in full.

The current model is definitely built on financing R&D, not product sales, so far.