Why Is SAB Therapeutics Stock Trading Higher Today?

SAB Therapeutics SABS shares are trading higher on Thursday after the company said it has been granted Fast Track designation from the FDA for SAB-176 influenza immunotherapy with high cross-reactivity to multiple strains of influenza.

SAB-176 is an investigational therapeutic for Type A and Type B influenza illness in high-risk patients, including those who have anti-viral resistant strains.

The Fast Track designation is a regulatory program created to speed up the development and review of drugs that aim to treat serious medical conditions and fulfill an unmet medical need. The purpose of the program is to accelerate the approval process so that promising treatments can reach patients more quickly.

“Influenza continues to be one of the biggest public health challenges the world faces on a continuing basis, with an excessively high number of hospitalizations and deaths each year," said Eddie Sullivan, PhD, co-founder, President & CEO of SAB Biotherapeutics. "We are excited about the potential role SAB-176 can play in tackling a highly mutagenic pathogen like influenza."

SAB Therapeutics is a clinical-stage biopharmaceutical company with a novel immunotherapy platform that produces specifically targeted, high-potency, fully-human, multi-epitope binding immunoglobulin antibodies, without the need for human donors.

SABS Price Action: SAB Therapeutics has a 52-week high of 2.96 and a 52-week low of $0.37.

SAB Therapeutics shares are up 89.8% at $0.72 at the time of writing, according to Benzinga Pro.