SAB Biotherapeutics Regains Compliance with Nasdaq Minimum Bid Price Requirement
January 23 2024 - 5:58PM
SAB Biotherapeutics, Inc. (Nasdaq: SABS), (SAB), a clinical-stage
biopharmaceutical company with a novel immunotherapy platform that
is developing fully-human anti-thymocyte immunoglobulin (hIgG) for
delaying the onset or progression of type 1 diabetes (T1D), today
announced that it received notice from The Nasdaq Stock Market LLC
("Nasdaq") on January 23, 2024 informing the Company that it has
regained compliance with the minimum bid price requirement under
Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued listing
on the Nasdaq Capital Market.
On January 23, 2023, SAB received notice from
Nasdaq that the Company was not in compliance with the Rule, as its
common shares failed to meet a closing bid price of $1.00 or more
for 30 consecutive business days. The Company conducted a 1-for-10
reverse split of its common shares on January 5, 2024, to aid the
compliance process.
To regain compliance with the Rule, the
Company’s common shares were required to maintain a minimum closing
bid price of $1.00 or more for at least 10 consecutive business
days. This requirement was met on January 23, 2024.
About SAB Biotherapeutics, Inc.
SAB Biotherapeutics (SAB) is a clinical-stage
biopharmaceutical company focused on developing fully human, multi-
targeted, high-potency immunoglobulins (IgGs), without the need for
human donors or convalescent plasma, to treat and prevent immune
and autoimmune disorders. The company’s lead asset, SAB-142,
targets type 1 diabetes (T1D) with a disease-modifying therapeutic
approach that aims to change the treatment paradigm by delaying
onset and potentially preventing disease progression. Using
advanced genetic engineering and antibody science to develop
Transchromosomic (Tc) Bovine™, the only transgenic animal with a
human artificial chromosome, SAB’s DiversitAb™ drug development
production system is able to generate a diverse repertoire of
specifically targeted, high-potency, fully-human IgGs that can
address a wide range of serious unmet needs in human diseases
without the need for convalescent plasma or human donors. For more
information on SAB, visit: https://www.SAb.bio/ and follow SAB on
Twitter and LinkedIn.
Forward-Looking Statements
Certain statements made herein that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally are
accompanied by words such as “believe,” “may,” “will,” “to be,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,”
“would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to,
statements regarding future events, including the development and
efficacy of our T1D program, and other discovery programs, the
impact the reverse stock split will have on the Company’s common
stock, the closing of each tranche of the Company’s private
placement offering, the timely funding to the Company by each
investor in the private placement offering, financial projections
and future financial and operating results (including estimated
cost savings and cash runway), the outcome of and potential future
government, and other third-party collaborations or funded
programs.
These statements are based on the current
expectations of SAB and are not predictions of actual performance,
and are not intended to serve as, and must not be relied on, by any
investor as a guarantee, prediction, definitive statement, or an
assurance, of fact or probability. These statements are only
current predictions or expectations, and are subject to known and
unknown risks, uncertainties and other factors which may be beyond
our control. Actual events and circumstances are difficult or
impossible to predict, and these risks and uncertainties may cause
our or our industry’s results, performance, or achievements to be
materially different from those anticipated by these
forward-looking statements. A further description of risks and
uncertainties can be found in the sections captioned “Risk Factors”
in our most recent annual report on Form 10-K, as amended,
subsequent quarterly reports on Form 10-Q, as may be amended or
supplemented from time to time, and other filings with or
submissions to, the U.S. Securities and Exchange Commission, which
are available at https://www.sec.gov/. Except as otherwise
required by law, SAB disclaims any intention or obligation to
update or revise any forward-looking statements, which speak only
as of the date they were made, whether as a result of new
information, future events, or circumstances or otherwise.
Media Relations:SABPR@westwicke.com
Investor
Relations:matt@milestone-advisorsllc.com
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