Keay Nakae, an analyst from Chardan Capital, maintained the Buy rating on SAB Biotherapeutics (SABS – Research Report). The associated price target is $3.00.
Keay Nakae has given his Buy rating due to a combination of significant factors. Firstly, SAB Biotherapeutics has secured a private placement of up to $130 million, which is intended to fund its principal research program, SAB-142, targeting type 1 diabetes. Furthermore, the firm ended the second quarter of 2023 with $7.8 million in cash and equivalents, which will be bolstered by the issuance of up to 130,000 shares of preferred stock to investors, in separate tranches. The closing of this agreement generated gross proceeds of roughly $7.5 million.
The next tranche is expected to generate approximately $70.5 million, with a final tranche that includes the potential exercise of Preferred Tranche B Warrants for around $52.0 million. These funds are projected to support the company through 2026. With this financing agreement secured, management can concentrate on the clinical development of SAB-142. The recent FDA approval of Tzield (teplizumab) has boosted enthusiasm for new type 1 diabetes therapies, which further supports the growth potential of SAB Biotherapeutics and justifies the Buy rating.
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SAB Biotherapeutics (SABS) Company Description:
Blue Calypso Inc is engaged in the development, sales, delivery and licensing of technology and intellectual property focused on mobile shopper engagement, digital word of mouth and location-based marketing and advertising. Its solutions include mobile engagement, POP and merchandise tracking, mobile plant tag engagement. The company derives its revenues from the cloud-based consumption of its technology platform, consulting fees and licensing of its technologies.
Read More on SABS:
- SAB Biotherapeutics Approves Appointment of Andrew Moin to Board of Directors
- SAB Biotherapeutics Announces Private Placement of up to $130 Million to Advance Development of Lead Drug Candidate for Type 1 Diabetes
- SAB Biotherapeutics announces private placement of up to $130M
- SAB Biotherapeutics files to sell 1.92M shares of common stock for holders
- SAB Biotherapeutics reports Q2 EPS (14c) vs (11c) last year
