SAB Biotherapeutics Reports Full Year 2023 Operating and Financial Results - Seite 2

Appointed Andrew Moin, Partner and Analyst at Sessa Capital, a New York based investment advisor registered with the SEC, to the SAB Board of Directors. Mr. Moin has been with Sessa since 2012, where he works on idea generation, research, and investment implementation. He has also been deeply involved in the type 1 diabetes community for over 20 years, including as a volunteer and member of the Young Leadership Committee of the New York City Chapter of the JDRF and an early supporter of multiple fundamental diabetes research and innovation projects.

Appointed Katie Ellias, Managing Partner at JDRF T1D Fund, to the SAB Board of Directors. The JDRF T1D Fund LLC is a venture philanthropy fund with approximately $200 million in assets, including an investment in SAB. Ms. Ellias joined the T1D Fund in 2018 where she has led several investments in companies developing T1D-oriented therapies. She has also served as a director on the board of several companies, including, DiogenX, Veralox Therapeutics, i2O Therapeutics, and Capillary Biomedical.

Welcomed Erick Lucera to our Board of Directors. Mr. Lucera, a 30-year veteran of the biotechnology and medical device industry, has held executive positions at several healthcare companies, most recently as Chief Financial Officer of Editas Medicine.

Hosted 2023 R&D Day virtual and in-person events, affirming SAB’s strategic focus in the autoimmunity space with SAB-142, a disease-modifying fully human hIgG aimed at preventing onset or disease progression of Type 1 Diabetes, and subsequently can be expanded into other immunology indications.

Upcoming Corporate Presentation

Samuel J. Reich, Chairman and CEO of SAB Biotherapeutics, will present on behalf of the company at the upcoming 23^rd Annual Needham Virtual Conference on Thursday, April 11, 2024, at 1:30 pm ET. The company will also participate in virtual 1:1 meetings. A replay of Mr. Reich’s presentation will be archived on the SAB Biotherapeutics website for up to one year.

Fiscal Year 2023 Financial Results

• SAB Biotherapeutics held cash and equivalents of $56.6 million at December 31, 2023, compared to $15.0 million at December 31, 2022.
• R&D expenses of $16.5 million and $36.4 million for the years ended December 31, 2023 and December 31, 2022 respectively.
• General and administrative expenses of $23.8 million and $16.4 million for the years ended December 31, 2023 and December 31, 2022 respectively.
• Other net expense of $4.1 million for the year ended December 31, 2023, and net other income of $10.2 million for the year ended December 31, 2022.
• SAB reported a net loss of $42.2 million and $18.7 million for the years ended December 31, 2023 and December 31, 2022 respectively.