SAB Biotherapeutics announced the Company has entered into a securities purchase agreement with certain accredited investors, pursuant to which the Company agreed to issue and sell shares of preferred stock in a private placement. The Offering will provide up to $130 million in gross proceeds to SAB, which will be used to fund the company’s lead research program, SAB-142, a potential disease-modifying treatment for T1D. The full proceeds, when funded, are expected to fund the company through 2026 and topline Phase II results. The transaction is being led by RA Capital Management, with participation from BVF Partners, Sessa Capital, Commodore Capital, RTW Investments, Marshall Wace, and the JDRF T1D Fund.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SABS:
- SAB Biotherapeutics Announces Private Placement of up to $130 Million to Advance Development of Lead Drug Candidate for Type 1 Diabetes
- SAB Biotherapeutics files to sell 1.92M shares of common stock for holders
- SAB Biotherapeutics reports Q2 EPS (14c) vs (11c) last year
- SAB Biotherapeutics Provides Company Update for Q2 2023 Financial Results