Start here if you're new
what it is
SAB Biotherapeutics tries to make human antibodies in engineered cattle to treat autoimmune disease.
how it gets paid
Last year Sab Biotherapeutics made $0 in revenue.
why growth slowed
Revenue fell 100.0% last year. Annual revenue was still $0, so the quarter did not turn the business into a business.
what just happened
SAB posted $1M in quarterly revenue, while EPS stayed negative at -$0.33.
At a glance
C+ balance sheet — struggling to keep the lights on
-$3.68 fy2024 eps est
$1M fy2024 rev est
1.0% operating margin
1.4 beta
xvary composite: 36/100 — weak
What they do
SAB Biotherapeutics tries to make human antibodies in engineered cattle to treat autoimmune disease.
SAB's edge is a cow factory, not a donor network. The company uses transchromosomic cattle (engineered cows) to make hIgG (human antibodies) without human donors or convalescent plasma. That matters when you have 63 employees and one lead program, SAB-142.
How they make money
$0
annual revenue · revenue declined -100.0% last year
The products that matter
lead clinical candidate
SAB-142
phase 1 · type 1 diabetes
it is the only clinical asset specifically called out in 2025 updates, and the company ended the year with $143.5M in cash and investments to push it forward. that makes SAB-142 the center of gravity.
phase 1
Key numbers
$211M
market cap
You are paying $211M for a company with $0 annual revenue.
$0
annual revenue
No sales means every trial update matters more than the income statement.
$5M
long-term debt
Debt is small, so the bigger problem is funding the science.
1.0%
operating margin
Operating margin means profit before interest and taxes. At 1.0%, you are basically at breakeven on paper.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $5M (2% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for SABS right now.
source: institutional data · return history unavailable
What just happened
missed estimates
SAB posted $1M in quarterly revenue, while EPS stayed negative at -$0.33.
Annual revenue was still $0, so the quarter did not turn the business into a business. The gap between $1M in the quarter and $0 for the year is the whole story.
$1.0M
revenue
-$0.33
eps
0.0%
gross margin
the number that mattered
The number that mattered was $1M in quarterly revenue, because annual revenue still rounded to $0.
source: company earnings report, 2026
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What could go wrong
the #1 risk here is SAB-142 failing to produce useful Phase 1 data. if that happens, the rest of the page gets very short very quickly.
med
phase 1 failure is thesis failure
SAB-142 is the lead asset and still early. There is no approved portfolio behind it. If the data disappoints, you are left with cash, a listing, and a much weaker story.
impact: one asset carries most of the investment case.
med
cash burn can outrun the runway
Management says the $143.5M cash position reaches mid-2028. That sounds comfortable until timelines slip. Clinical programs are good at doing that.
impact: a shorter runway would put fresh financing back on the table fast.
med
dilution is not a hypothetical
The company already raised $175M in 2025. That improved survival odds and reminded you how this sector funds itself.
impact: even good science can lead to a smaller claim on future upside if new shares keep coming.
med
headline profit can hide operating weakness
FY2025 net income was positive because of a $62.8M warrant gain. That can make the business look healthier than it is if you stop at the top line of the press release.
impact: valuation can drift away from operating reality when accounting gains do the storytelling.
With $1M of expected revenue, one Phase 1 lead program, and a $211M market cap, most of the valuation rests on data that does not exist yet.
source: institutional data · regulatory filings · risk analysis
Pay attention to
clinical
SAB-142 Phase 1 data
This is the number wall street actually cares about. Positive signal gives the cash runway a purpose. Weak data turns the stock back into cash-per-share math.
cash
runway versus mid-2028
Watch whether management keeps pointing to mid-2028 or starts pulling that date in. For a pre-revenue biotech, runway guidance is operating guidance.
dilution
another equity raise
The $175M financing solved one problem and created another question: how many times will the market have to fund this before the science pays you back.
street view
analyst enthusiasm versus clinical reality
Five analysts sit at Strong Buy with a $10 target. If that starts moving down before data improves, pay attention. Targets usually follow risk, not erase it.
Analyst rankings
risk profile
below average
risk rank 4 — more volatile than most — brace for bigger swings.
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for SABS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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