SAB Biotherapeutics Q2 EPS $(0.14) Down From $(0.11) YoY
Portfolio Pulse from Happy Mohamed
SAB Biotherapeutics reported Q2 2023 financial results with an EPS of $(0.14), down from $(0.11) YoY. The company's cash position was $7.8 million as of June 30, 2023, compared to $15.0 million on December 31, 2022. R&D expenses decreased due to cost reduction measures and a shift in focus to autoimmunity space with SAB-142. G&A expenses also decreased due to cost reduction measures and increased efficiencies. The net loss was $6.9 million for Q2 2023, compared to a net loss of $4.8 million for Q2 2022.
August 21, 2023 | 12:36 pm
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SAB Biotherapeutics reported a larger net loss in Q2 2023 compared to Q2 2022, despite cost reduction measures in R&D and G&A expenses. The company's cash position also decreased significantly.
The company's increased net loss and decreased cash position indicate financial difficulties, which could negatively impact the stock price in the short term. Despite cost reduction measures, the company is still operating at a loss, which is a negative signal for investors.
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