EXCLUSIVE: SAB Biotherapeutics Receives Additional $8.2M In Closeout Of COVID-19 DoD Contract

SAB Biotherapeutics SABS has received an additional $8.2 million from the U.S. Department of Defense (DoD) related to the closeout of the discontinued COVID-19 prototype research and development contract.
This brings the final closeout settlement to $16.8 million received since November 2022.
What Happened: In August, SAB Biotherapeutics announced discontinuing its work with the DoD under a prototype research and development agreement.
The agreement, awarded in 2019, underwent significant modifications due to the COVID-19 pandemic, and the government's evolving requirements no longer align with the agreement's goals as initially contemplated.
What's Next: "Our work with the DoD has clinically validated our unique approach and accelerated SAB's novel polyclonal antibody platform to Phase 3 stage of development," said Eddie Sullivan, co-founder, President, & CEO of SAB.
"We are moving full speed ahead with our Influenza, C. diff. and Type I Diabetes programs and look forward to bringing much needed treatment solutions to patients," Sullivan added.
EXCLUSIVE: SAB Biotherapeutics' Type 1 Diabetes Candidate Moves One Step Closer To Enter Human Trials With Completion Of Toxicology Study.
Based on its current operating plans and recent developments, SAB expects cash and cash equivalents and anticipated cash flows will be sufficient to fund its operating expenses and capital expenditure requirements through 2023.
Price Action: SABS shares closed at $0.73 on Tuesday.