SAB Biotherapeutics closes $85 million public offering

USA-based immunotherapy specialist SAB Biotherapeutics (Nasdaq: SABS) has announced the closing of an underwritten public offering, generating approximately $85 million before deductions.

The clinical-stage biopharmaceutical company, which is focused on developing a fully human anti-thymocyte immunoglobulin (hATG) for type 1 diabetes (T1D) and other autoimmune diseases, offered 19,324,677 shares of its common stock at a price of $3.85 per share. Additionally, pre-funded warrants to purchase up to 2,753,246 shares of common stock were offered to certain investors at $3.8499 per pre-funded warrant. This price reflects the per-share public offering price, minus the $0.0001 per-share exercise price for each pre-funded warrant.