SAB生物制药公司2026年季度报告

SECURITIES AND EXCHANGE COMMISSION SAB BIOTHERAPEUTICS, INC. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging Table of Contents PART I.FINANCIAL INFORMATION Item 1.Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets Condensed Consolidated Statements of Operations and Comprehensive Loss Condensed Consolidated Statements of Changes In Stockholders’ Equity PART II.OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures PART I—FINANCIAL INFORMATION SAB BIOTHERAPEUTICS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (1) Nature of Business SAB Biotherapeutics, Inc., a Delaware corporation (“SAB” or “SAB Biotherapeutics”, and together with its subsidiaries, the“Company”), is a clinical-stage biopharmaceutical company focused on the development of human polyclonal immunotherapeuticantibodies, or human immunoglobulins (“hIgG”), to address immune system disorders and infectious diseases. The Company’santibodies are both target-specific and polyclonal, meaning they are comprised of multiple hIgGs and can bind to multiple sites onspecific immunogens, making them ideally suited to address the complexities associated with many immune-mediated disorders. Australian Research and Development Tax Credit In June 2023, the Company formed a new subsidiary in Australia, SAB BIO PTY LTD, a proprietary limited company (“SABAustralia”), primarily to conduct preclinical and clinical activities for product candidates. SAB Australia’s research anddevelopment activities qualify for the Australian government’s tax credit program, which provides a 48.5% credit for qualifying Liquidity As of March 31, 2026, the Company had an accumulated deficit of $129.8 million. The Company anticipates that it will continue togenerate losses for the foreseeable future and expects the losses to increase as the Company continues the development of, or seeks Based on the Company’s current level of operating expenses, existing resources will be sufficient to cover operating cash needsthrough at least the twelve months following the date of this report. In the future, the Company may seek additional funding (2) Summary of Significant Accounting Policies A summary of the significant accounting policies applied in preparation of the accompanying condensed consolidated financialstatements is set forth below. Basis of presentation The unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accountingprinciples accepted in the United States of America (“GAAP”) for interim financial statements and the rules of the Securities andExchange Commission (“SEC”) applicable to interim financial statements. Certain information or footnote disclosures normallyincluded in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules andregulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessaryfor a complete presentation of financial position, results of operations, or cash flows. The accompanying unaudited condensed Emerging growth company status The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the“Securities Act”), as modified by the Jumpstart our Business Startups Act of 2012, (the “JOBS Act”), and it may take advantage ofcertain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growthcompanies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new orrevised financial accounting standards until private companies (that is, those that have not had a Securities Act registrationstatement