SAB Biotherapeutics Inc
For the period ended Mar 31, 2024. Filed May 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 20, 2024
SABS$3.07-1.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(5,025,745) | $(7,353,820) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,963,040 | 898,453 |
| Amortization of finance right-of-use assets | 21,706 | 24,716 |
| Stock-based compensation expense | 617,445 | 602,780 |
| Changes in fair value of warrant liabilities | (5,468,219) | (82,586) |
| Accretion of discounts on short-term investments | (83,994) | — |
| Professional fees settled with equity instruments | — | 93,530 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | — | 4,793,454 |
| Prepaid expenses and other current assets | (289,541) | 318,901 |
| Operating lease right-of-use assets | (10,403) | 125,531 |
| Accrued interest receivable | (193,232) | — |
| Accounts payable | 243,357 | (2,234,157) |
| Deferred grant income | (944,575) | 2,939,198 |
| Accrued expense and other current liabilities | (1,579,848) | (1,731,717) |
| Net cash used in operating activities | (10,750,009) | (1,605,717) |
| Cash flows from investing activities: | ||
| Purchases of equipment | (129,074) | (21,300) |
| Purchases of investment securities | (31,230,133) | — |
| Net cash used in investing activities | (31,359,207) | (21,300) |
| Cash flows from financing activities: | ||
| Payment of deferred issuance costs | (167,393) | — |
| Payments of notes payable | (215,382) | (328,187) |
| Principal payments on finance leases | (32,055) | (33,493) |
| Proceeds from exercise of stock options | 20,412 | 1,890 |
| Net cash used in financing activities | (394,418) | (359,790) |
| Effect of exchange rate changes on cash and cash equivalents | (28,270) | — |
| Net decrease in cash and cash equivalents | (42,531,904) | (1,986,807) |
| Cash and cash equivalents | ||
| Beginning of period | 56,566,066 | 15,046,894 |
| End of period | $14,034,162 | $13,060,087 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $66,163 | $78,312 |
| Supplemental information on non-cash investing and finance activities: | ||
| Deferred issuance costs included in accounts payable and accrued expenses | $68,712 | $— |
See accompanying notes to the condensed consolidated financial statements.
SAb Biotherapeutics, Inc. and subsidiaries
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