By Karen E. Roman
SAB Biotherapeutics, Inc. (Nasdaq: SABS), a clinical-stage company developing a fully-human treatment to delay the progress of type 1 diabetes, said its net loss narrowed in the third quarter.
The net loss was $5.1 million, compared to $7.1 million a year earlier, mainly due to cost reduction measures and increased efficiencies, the company said.
“The third quarter of 2023 was a pivotal growth point for SAB as we advance SAB-142, our T1D immunotherapy,” said CEO and Co-Founder Dr. Eddie J. Sullivan.
Separately, the company announced the completion of $67.1 million in financing to advance potential disease-modifying treatment for type 1 diabetes.