Shares of SAB Biotherapeutics, Inc. (SABS) soared 82% to $4.69 on Thursday following the announcement of a $175 million private placement backed by leading institutional and strategic investors, including Sanofi, RA Capital Management, and Commodore Capital.
The stock opened at $3.49, up from the prior close of $2.57. Trading volume was over 50 million shares, compared to average daily volume of under 48,000 shares.
SAB Biotherapeutics will raise up to $175 million in gross proceeds upfront, with the potential for an additional $284 million through warrants, if fully exercised.
Under the terms of the agreement, the company will issue 1 million shares of Series B nonvoting convertible preferred stock, which convert into 100 million shares of common stock at $1.75 per share. Warrants will allow investors to purchase an additional 1.5 million shares of preferred stock.
SAB BIO plans to use the proceeds to fully fund its Phase 2b SAFEGUARD trial for SAB-142, a novel human anti-thymocyte immunoglobulin (hIgG) being developed to delay the progression of Stage 3 autoimmune type 1 diabetes (T1D), as well as for general corporate purposes.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.