SAB Biotherapeutics Inc. (SABS:NASDAQ), which had an agreement with the U.S. Department of Defense to develop a polyclonal antibody drug candidate for COVID-19, received the last US$8.2 million ($8.2M) from the agency under the now closed contract, reported H.C. Wainwright & Co. analyst Edward White in a Jan. 18 company update. SAB announced in August 2022 it was terminating its work on SAB-185.
"With the COVID-19 program winding down, the company is now focused on its influenza, C. difficile, and type 1 diabetes programs," White wrote.
H.C. Wainwright has a US$4 per share price target on this South Dakota-based biopharma with a current share price of about US$0.75.
The difference between the two prices implies a significant potential return for investors. SAB Biotherapeutics is rated Buy.
The total the immunotherapy development firm received under the DOD prototype research and development agreement is US$16.8M, noted White. According to SAB Biotherapeutics management, the company is fully funded through 2023.
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Disclosures For H.C. Wainwright & Co., SAB Biotherapeutics Inc., January 18, 2023
H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Edward White , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.
None of the research analysts or the research analyst’s household has a financial interest in the securities of SAB Biotherapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of December 31, 2022 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of SAB Biotherapeutics, Inc..
Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report.
The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from SAB Biotherapeutics, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did receive compensation from SAB Biotherapeutics, Inc. for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.
H.C. Wainwright & Co., LLC managed or co-managed a public offering of securities for SAB Biotherapeutics, Inc. during the past 12 months. The Firm does not make a market in SAB Biotherapeutics, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously.
No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report.
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