SAB Biotherapeutics (SABS)
Market Price (7/16/2026): $3.62 | Market Cap: $193.9 MilSector: Health Care | Industry: Biotechnology
SAB Biotherapeutics (SABS)
Market Price (7/16/2026): $3.62Market Cap: $193.9 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -131% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -58 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.3% Key risksSABS key risks include [1] the potential clinical trial or regulatory failure of its lead candidate, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -52% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -131% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -58 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.3% |
| Key risksSABS key risks include [1] the potential clinical trial or regulatory failure of its lead candidate, Show more. |
Qualitative Assessment
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SAB Biotherapeutics (SABS) stock has lost about 5% since 3/31/2026 because of the following key factors:
1. Q1 2026 Earnings Miss and Widening Net Loss.
SAB Biotherapeutics reported its fiscal Q1 2026 results on May 12, 2026, announcing an Earnings Per Share (EPS) of -$0.35, which significantly missed the analyst consensus estimate of -$0.21 by 66.67%. This financial miss was accompanied by a wider net loss of $18.9 million for the quarter, compared to a net loss of $5.2 million in fiscal Q1 2025. The stock experienced a 3.33% decline following this announcement.
2. Increased Research and Development (R&D) and General and Administrative (G&A) Expenses.
The expanded net loss in fiscal Q1 2026 was largely driven by increased operating expenses. Research and Development (R&D) expenses rose to $13.4 million, up from $7.7 million in the prior year's comparable quarter, primarily due to ongoing investments in the SAB-142 program. Similarly, General and Administrative (G&A) expenses increased to $6.6 million from $3.1 million in fiscal Q1 2025.
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SAB Biotherapeutics (SABS) stock has lost about 5% since 3/31/2026 because of the following key factors:
1. Q1 2026 Earnings Miss and Widening Net Loss.
SAB Biotherapeutics reported its fiscal Q1 2026 results on May 12, 2026, announcing an Earnings Per Share (EPS) of -$0.35, which significantly missed the analyst consensus estimate of -$0.21 by 66.67%. This financial miss was accompanied by a wider net loss of $18.9 million for the quarter, compared to a net loss of $5.2 million in fiscal Q1 2025. The stock experienced a 3.33% decline following this announcement.
2. Increased Research and Development (R&D) and General and Administrative (G&A) Expenses.
The expanded net loss in fiscal Q1 2026 was largely driven by increased operating expenses. Research and Development (R&D) expenses rose to $13.4 million, up from $7.7 million in the prior year's comparable quarter, primarily due to ongoing investments in the SAB-142 program. Similarly, General and Administrative (G&A) expenses increased to $6.6 million from $3.1 million in fiscal Q1 2025.
3. Continued Pre-Revenue Status as a Clinical-Stage Biopharmaceutical Company.
As a clinical-stage company, SAB Biotherapeutics reported no revenue for fiscal Q1 2026, consistent with its stage of development. While the company maintains an operational runway through 2028 with $217.6 million in cash and equivalents as of March 31, 2026, the absence of product revenue and increasing expenses highlight its reliance on existing capital and future funding, which can be a point of investor caution.
4. Mixed Longer-Term Analyst Forecasts Despite Overall "Strong Buy" Consensus.
Although SAB Biotherapeutics holds a consensus "Strong Buy" rating from analysts, with an average price target ranging from $12.00 to $13.33, some independent analyses present a more cautious long-term outlook. For example, one forecast from July 11, 2026, predicted the stock could fall to $3.08 over the next 52 weeks, representing a potential 19.23% decrease from its price of $3.815 at that time. Such varied projections, even amidst a generally positive analyst consensus, may contribute to underlying selling pressure or investor uncertainty.
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Stock Movement Drivers
Fundamental Drivers
The -5.5% change in SABS stock from 3/31/2026 to 7/15/2026 was primarily driven by a -11.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 7152026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.83 | 3.62 | -5.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 48 | 54 | -11.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2026 to 7/15/2026| Return | Correlation | |
|---|---|---|
| SABS | -5.5% | |
| Market (SPY) | 16.1% | 32.8% |
| Sector (XLV) | 8.0% | 11.2% |
Fundamental Drivers
The -3.2% change in SABS stock from 12/31/2025 to 7/15/2026 was primarily driven by a -80.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 12312025 | 7152026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.74 | 3.62 | -3.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 11 | 54 | -80.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
12/31/2025 to 7/15/2026| Return | Correlation | |
|---|---|---|
| SABS | -3.2% | |
| Market (SPY) | 11.0% | 24.4% |
| Sector (XLV) | 2.7% | 9.3% |
Fundamental Drivers
The 106.3% change in SABS stock from 6/30/2025 to 7/15/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302025 | 7152026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.75 | 3.62 | 106.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 9 | 54 | -82.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2025 to 7/15/2026| Return | Correlation | |
|---|---|---|
| SABS | 106.3% | |
| Market (SPY) | 23.2% | 15.1% |
| Sector (XLV) | 19.0% | 14.8% |
Fundamental Drivers
The -56.4% change in SABS stock from 6/30/2023 to 7/15/2026 was primarily driven by a -90.6% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 6302023 | 7152026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.30 | 3.62 | -56.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 5 | 54 | -90.6% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2023 to 7/15/2026| Return | Correlation | |
|---|---|---|
| SABS | -56.4% | |
| Market (SPY) | 76.3% | 10.7% |
| Sector (XLV) | 24.9% | 11.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SABS Return | -23% | -92% | 17% | -45% | -1% | -4% | -96% |
| Peers Return | 12% | -33% | -39% | 84% | 7% | 1% | -9% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| SABS Win Rate | 45% | 25% | 25% | 42% | 50% | 29% | |
| Peers Win Rate | 42% | 39% | 44% | 47% | 56% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| SABS Max Drawdown | - | -94% | -57% | -68% | -75% | -28% | |
| Peers Max Drawdown | -52% | -54% | -60% | -50% | -55% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EBS, VIR, REGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/15/2026 (YTD)
How Low Can It Go
| Event | SABS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -46.1% | -18.8% |
| % Gain to Breakeven | 85.6% | 23.1% |
| Time to Breakeven | 92 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -30.9% | -7.8% |
| % Gain to Breakeven | 44.8% | 8.5% |
| Time to Breakeven | 37 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.4% | -9.5% |
| % Gain to Breakeven | 64.9% | 10.5% |
| Time to Breakeven | 22 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -45.7% | -6.7% |
| % Gain to Breakeven | 84.2% | 7.1% |
| Time to Breakeven | 1 days | 31 days |
In The Past
SAB Biotherapeutics's stock fell -46.1% during the 2025 US Tariff Shock. Such a loss loss requires a 85.6% gain to breakeven.
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| Event | SABS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -46.1% | -18.8% |
| % Gain to Breakeven | 85.6% | 23.1% |
| Time to Breakeven | 92 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -30.9% | -7.8% |
| % Gain to Breakeven | 44.8% | 8.5% |
| Time to Breakeven | 37 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.4% | -9.5% |
| % Gain to Breakeven | 64.9% | 10.5% |
| Time to Breakeven | 22 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -45.7% | -6.7% |
| % Gain to Breakeven | 84.2% | 7.1% |
| Time to Breakeven | 1 days | 31 days |
In The Past
SAB Biotherapeutics's stock fell -46.1% during the 2025 US Tariff Shock. Such a loss loss requires a 85.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About SAB Biotherapeutics (SABS)
SAB Biotherapeutics is a clinical-stage biopharmaceutical company specializing in the development of novel immunotherapies. The company distinguishes itself through its innovative DiversitAb platform, which utilizes advanced genetic engineering to create transchromosomic bovine herds. These specially engineered cattle are capable of producing fully human polyclonal antibodies, offering a unique method to develop antibody-based treatments without the need for human donors.
The company's primary focus is on developing these fully human antibodies to target a range of serious diseases. Its lead product candidate, SAB-185, is currently in Phase III clinical trials for the treatment of COVID-19. Another key candidate in development is SAB-176, aimed at treating or preventing severe influenza. Beyond infectious diseases, SAB Biotherapeutics is also advancing preclinical candidates like SAB-142 for autoimmune conditions such as type 1 diabetes and for use in organ transplant induction and rejection.
SAB Biotherapeutics primarily serves the medical and pharmaceutical markets by developing solutions for significant unmet needs. Its therapies are designed for patients suffering from infectious diseases, various immune and autoimmune disorders, and those undergoing organ transplantation, with future applications potentially extending to cancer treatment. The company's innovative platform positions it to deliver novel antibody therapeutics across these critical areas.
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It's like Regeneron or Amgen, but they've engineered cows to be living factories for human antibody drugs.
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- SAB-185: A fully-human polyclonal antibody therapeutic candidate in Phase III clinical trial for the treatment of COVID-19.
- SAB-176: A fully-human polyclonal antibody therapeutic candidate in development to treat or prevent severe influenza.
- SAB-142: A pre-clinical product candidate in development for autoimmune diseases, specifically type 1 diabetes and organ transplant induction/rejection.
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Major Customers of SAB Biotherapeutics (SABS)
Based on the provided background information, SAB Biotherapeutics (SABS) is a clinical-stage biopharmaceutical company. Its primary activities involve the research and development of immunotherapies, with product candidates in various stages of clinical trials (Phase III, in development, or pre-clinical).
As a clinical-stage company, SAB Biotherapeutics does not currently have major commercial customers to whom it sells finished products, either to other companies or directly to individuals. Its product candidates have not yet received regulatory approval for commercial sale.
If its product candidates successfully advance through clinical trials and receive regulatory approval, potential future customers would typically include healthcare providers, hospitals, pharmacies, government health systems, or larger pharmaceutical companies for commercialization partnerships.
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- Catalent (NYSE: CTLT)
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Samuel J. Reich, Chief Executive Officer
Samuel J. Reich was elected CEO of SAB Biotherapeutics in January 2024, having previously served as Executive Chairman of the board of directors since October 2021 following SAB's business combination with Big Cypress Acquisition Corp. Prior to joining SAB, Mr. Reich served as Chief Executive Officer, Chief Financial Officer, and a board member of Big Cypress Acquisition Corp. He co-founded Biscayne Neurotherapeutics, Inc. in 2011 and served as its Executive Chairman until its sale to Supernus Pharmaceuticals in October 2018. Mr. Reich also founded Acuity Pharmaceuticals, Inc. in 2002, where he served as Executive Vice President until its acquisition by OPKO Health, Inc. in March 2007, subsequently holding the role of Executive Vice President of OPKO Ophthalmologics. He is an inventor on 14 U.S. patents and over 50 worldwide patents related to siRNA as therapeutics.
Lucy To, EVP & Chief Financial Officer
Lucy To was named Chief Financial Officer of SAB Biotherapeutics, effective August 12, 2024, bringing over 18 years of investment banking and strategic operational expertise to the company. Before joining SAB, Ms. To was a Managing Director in the Healthcare Investment Banking Group at Wells Fargo, where she advised biopharmaceutical companies on various financing and strategic transactions. Her career also includes investment banking and operational roles at Deutsche Bank, Intercept Pharmaceuticals, Citigroup, and Cowen, with transaction experience in M&A, IPOs, and other equity and debt financings in the healthcare sector exceeding an aggregate value of $50 billion.
Eddie J. Sullivan, PhD, Co-Founder & President
Dr. Eddie J. Sullivan is a Co-Founder and has served as President of SAB Biotherapeutics since 2014. With over 25 years of biopharma leadership experience, he previously held CEO and other leadership roles in predecessor entities, including CEO of Hematech, a subsidiary of Kyowa Hakko Kirin. Dr. Sullivan has led initiatives in infectious disease, cancer, and autoimmune immunotherapy development, and has also guided successful mergers and acquisitions and raised over $250 million in capital for biopharmaceutical platform technologies. He is also a co-founder of South Dakota Biotech.
Christoph Bausch, PhD, MBA, EVP & Chief Operating Officer
Christoph Bausch serves as the Executive Vice President and Chief Operating Officer at SAB Biotherapeutics.
Alexandra Kropotova, MD, MBA, EVP & Chief Medical Officer
Alexandra Kropotova is the Executive Vice President and Chief Medical Officer at SAB Biotherapeutics.
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- The rapidly evolving landscape of COVID-19 treatments, particularly the emergence and widespread adoption of highly effective oral antiviral therapies (e.g., Paxlovid) and the global decline in severe COVID-19 cases due to vaccination and natural immunity, poses a significant emerging threat. This directly impacts the market viability and commercial potential of SAB's lead product candidate, SAB-185, a fully-human polyclonal antibody therapeutic in Phase III clinical trials for COVID-19. The demand for intravenous antibody therapies for COVID-19 has substantially decreased, making market penetration and commercial success challenging even upon approval.
- The continued rapid advancement and broad application of mRNA technology represent an emerging threat, especially in the infectious disease space. mRNA platforms have demonstrated unprecedented speed in developing and deploying vaccines and hold potential for novel therapeutic approaches. If mRNA technology can effectively develop rapid, scalable, and highly efficacious therapeutic or prophylactic agents for infectious diseases like influenza or future pandemic threats, it could potentially diminish the long-term competitive advantage or market need for SAB's antibody-based platform, particularly for acute infectious disease indications.
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SAB Biotherapeutics (SABS) is a clinical-stage biopharmaceutical company developing immunotherapies for various diseases. Here are the addressable market sizes for their main product candidates:
-
SAB-185 (COVID-19 treatment): The global Severe Acute Respiratory Syndrome Coronavirus (SARS-CoV) infection market, which includes COVID-19 treatments, was valued at approximately USD 23.8 billion across the 7 major markets (7MM) in 2024. This market is projected to reach USD 79.0 billion by 2035, demonstrating a Compound Annual Growth Rate (CAGR) of 11.57% from 2025 to 2035. North America currently holds the largest share of this market, accounting for approximately 45% of the global total.
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SAB-176 (Influenza treatment): The global influenza treatment market size was estimated at USD 5,912.0 million in 2023 and is projected to grow to USD 6,444.8 million by 2030, with a CAGR of 1.2% from 2024 to 2030. North America was the largest revenue-generating market for influenza treatments in 2023.
-
SAB-142 (Type 1 diabetes): The global Type 1 Diabetes Treatment market was valued at around USD 16.01 billion in 2024. It is predicted to grow to approximately USD 31.48 billion by 2035, at a CAGR of 6.34% from 2025 to 2035. North America is the leading region in this market, holding an estimated 39.4% of the market share in 2025.
-
SAB-142 (Organ transplant induction/rejection): The global organ transplant immunosuppressant drugs market, which addresses organ transplant rejection, is estimated at USD 5.81 billion in 2025. This market is projected to reach around USD 8.82 billion by 2034, expanding at a CAGR of 4.74% between 2025 and 2034. In 2025, North America held the largest share, representing over 40% of the global revenue, with a market size of USD 2,325.84 million.
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For SAB Biotherapeutics (NASDAQ: SABS), the expected drivers of future revenue growth over the next 2-3 years are primarily centered on its lead product candidate, SAB-142, and the underlying DiversitAb platform.
- Advancement and Potential Regulatory Approval of SAB-142 for Type 1 Diabetes (T1D): The most significant driver of future revenue growth for SAB Biotherapeutics is the successful progression and potential regulatory approval of SAB-142, its lead therapeutic candidate for newly diagnosed Stage 3 Type 1 Diabetes. The company's global Phase IIb pivotal SAFEGUARD trial is expected to complete enrollment by the end of 2026, with top-line data anticipated in the second half of 2027. Positive results from this registrational-intent study and subsequent regulatory approval would open access to the multi-billion dollar T1D market, addressing a significant unmet medical need.
- Commercialization and Market Penetration of SAB-142: Following potential regulatory approval, the commercial launch and subsequent market penetration of SAB-142 will be a key revenue driver. SAB-142 is a fully human anti-thymocyte globulin designed to preserve beta cells and improve glycemic control, offering a potentially differentiated, disease-modifying approach to T1D treatment with improved safety and re-dosability compared to existing therapies. The company's ability to effectively market and gain market share in the T1D space will directly impact revenue generation.
- Expansion of the DiversitAb Platform to New Indications: While SAB-142 is the immediate focus, SAB Biotherapeutics' proprietary DiversitAb platform is a core asset capable of generating a diverse repertoire of targeted human polyclonal antibodies. This platform has the potential to develop additional therapeutic candidates for a range of immune and autoimmune disorders, as well as infectious diseases. Progress in advancing other pipeline candidates, even those currently in preclinical stages, could lead to future revenue through strategic partnerships, licensing agreements, or later-stage development funding within the 2-3 year timeframe.
- Strategic Partnerships and Collaborations: Given the capital-intensive nature of biopharmaceutical development and commercialization, strategic partnerships and collaborations represent a vital driver of revenue growth. Such collaborations could involve upfront payments, milestone achievements, and royalty streams for late-stage development, commercialization efforts, or for the discovery and development of new therapies leveraging the DiversitAb platform. The company has already demonstrated success in securing significant financing from institutional and strategic investors, including Sanofi.
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Share Issuance
- SAB Biotherapeutics completed an oversubscribed private placement in July 2025, raising $175 million from strategic and institutional investors, including Sanofi. This financing included milestone-based warrants that could generate up to an additional $284 million if fully exercised.
- In October 2023, the company announced a private placement that would provide up to $130 million in gross proceeds through the issuance of preferred stock, with RA Capital Management leading the investment.
- SAB Biotherapeutics became publicly traded on Nasdaq in October 2021 following a merger with Big Cypress Acquisition Corp., a transaction expected to provide approximately $118 million of pro forma cash to the combined company.
Inbound Investments
- In July 2025, SAB Biotherapeutics received significant investments totaling $175 million from a syndicate including strategic investor Sanofi, along with institutional investors such as RA Capital Management, Commodore Capital, Vivo Capital, Blackstone Multi-Asset Investing, Sessa Capital, the T1D Fund, and ATW Partners.
- A private placement announced in October 2023, providing up to $130 million, included participation from RA Capital Management, BVF Partners, Sessa Capital, Commodore Capital, RTW Investments, Marshall Wace, and the JDRF T1D Fund.
- Institutional investors like Perceptive Advisors LLC and RTW Investments, LP acquired significant stakes in SAB Biotherapeutics in late 2025 and early 2026.
Capital Expenditures
- SAB Biotherapeutics reported capital expenditures of $55,000 in Q3 2024.
- In the last 12 months prior to March 2026, capital expenditures were approximately -$933,156, with some sources indicating $933,000 was consumed from operating cash flow.
- In Q1 2022, the company reported $1.3 million in capital expansion.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| SAB Biotherapeutics Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 8.75 |
| Mkt Cap | 0.9 |
| Rev LTM | 355 |
| Op Inc LTM | 7 |
| FCF LTM | 42 |
| FCF 3Y Avg | -3 |
| CFO LTM | 48 |
| CFO 3Y Avg | 9 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.9% |
| Rev Chg 3Y Avg | 6.4% |
| Rev Chg Q | -28.4% |
| QoQ Delta Rev Chg LTM | -2.8% |
| Op Inc Chg LTM | 10.2% |
| Op Inc Chg 3Y Avg | -24.2% |
| Op Mgn LTM | 11.3% |
| Op Mgn 3Y Avg | 0.8% |
| QoQ Delta Op Mgn LTM | -4.6% |
| CFO/Rev LTM | 22.9% |
| CFO/Rev 3Y Avg | 9.1% |
| FCF/Rev LTM | 21.0% |
| FCF/Rev 3Y Avg | 6.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Development of a human anti-thymocyte globulin focused on preventing or delaying the progression of | 0 | 1 | 2 | 24 | 61 |
| Total | 0 | 1 | 2 | 24 | 61 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Development of a human anti-thymocyte globulin focused on preventing or delaying the progression of | 173 | 44 | 84 |
| Total | 173 | 44 | 84 |
Price Behavior
| Market Price | $3.62 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 02/09/2021 | |
| Distance from 52W High | -21.1% | |
| 50 Days | 200 Days | |
| DMA Price | $3.68 | $3.64 |
| DMA Trend | up | down |
| Distance from DMA | -1.7% | -0.5% |
| 3M | 1YR | |
| Volatility | 69.0% | 78.3% |
| Downside Capture | 194.87 | 95.25 |
| Upside Capture | 84.93 | 114.28 |
| Correlation (SPY) | 35.1% | 18.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.17 | 1.90 | 1.45 | 1.10 | 1.01 | 0.69 |
| Up Beta | 5.11 | 5.21 | 2.19 | 2.16 | 1.67 | 1.17 |
| Down Beta | -0.34 | 0.21 | 0.11 | 1.23 | 1.22 | 1.33 |
| Up Capture | 309% | 154% | 99% | 61% | 133% | -2% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 9 | 18 | 28 | 60 | 118 | 333 |
| Down Capture | 159% | 154% | 182% | 68% | 36% | 40% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 11 | 22 | 34 | 62 | 119 | 386 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SABS | |
|---|---|---|---|---|
| SABS | 34.7% | 78.3% | 0.71 | - |
| Sector ETF (XLV) | 18.8% | 15.8% | 0.90 | 16.6% |
| Equity (SPY) | 21.9% | 12.6% | 1.30 | 18.3% |
| Gold (GLD) | 21.0% | 27.9% | 0.67 | 12.0% |
| Commodities (DBC) | 29.1% | 18.9% | 1.22 | -0.8% |
| Real Estate (VNQ) | 12.6% | 13.9% | 0.61 | 5.5% |
| Bitcoin (BTCUSD) | -46.2% | 42.9% | -1.32 | 12.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SABS | |
|---|---|---|---|---|
| SABS | -49.6% | 112.4% | -0.12 | - |
| Sector ETF (XLV) | 5.8% | 14.9% | 0.21 | 10.9% |
| Equity (SPY) | 13.2% | 17.1% | 0.59 | 11.6% |
| Gold (GLD) | 17.2% | 18.4% | 0.76 | 5.5% |
| Commodities (DBC) | 9.0% | 19.5% | 0.35 | -1.6% |
| Real Estate (VNQ) | 2.7% | 18.9% | 0.04 | 6.1% |
| Bitcoin (BTCUSD) | 13.8% | 53.5% | 0.44 | 6.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SABS | |
|---|---|---|---|---|
| SABS | -29.1% | 108.6% | -0.12 | - |
| Sector ETF (XLV) | 10.0% | 16.6% | 0.49 | 10.8% |
| Equity (SPY) | 15.6% | 17.9% | 0.74 | 11.5% |
| Gold (GLD) | 11.1% | 16.1% | 0.56 | 5.5% |
| Commodities (DBC) | 6.7% | 18.0% | 0.29 | -1.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 6.0% |
| Bitcoin (BTCUSD) | 57.9% | 66.2% | 0.98 | 5.9% |
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Earnings Returns History
Updated 7/7/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/29/2024 | 7.6% | 4.7% | 0.7% |
| 11/22/2021 | -10.2% | -7.3% | -22.6% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 1 | 1 | 1 |
| Median Positive | 7.6% | 4.7% | 0.7% |
| Median Negative | -10.2% | -7.3% | -22.6% |
| Max Positive | 7.6% | 4.7% | 0.7% |
| Max Negative | -10.2% | -7.3% | -22.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/29/2024 | 7.6% | 4.7% | 0.7% |
| 11/22/2021 | -10.2% | -7.3% | -22.6% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 1 | 1 | 1 |
| Median Positive | 7.6% | 4.7% | 0.7% |
| Median Negative | -10.2% | -7.3% | -22.6% |
| Max Positive | 7.6% | 4.7% | 0.7% |
| Max Negative | -10.2% | -7.3% | -22.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/21/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 04/14/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/20/2024 | 10-Q |
| 12/31/2023 | 03/29/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/21/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 04/14/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/29/2022 | 10-K |
| 09/30/2021 | 11/22/2021 | 10-Q |
Investor Activity (13F)
Updated Jul 16, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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