SAB Biotherapeutics Shifts Focus On Infection Candidate As DoD Contract Closes - SAB Biotherapeutics (NASDAQ:SABS)

SAB Biotherapeutics SABS will discontinue its work with the U.S. Department of Defense (DoD) under a prototype research and development agreement.
The agreement, awarded in 2019, underwent significant modifications due to the COVID-19 pandemic, and the government's evolving requirements no longer align with the agreement's goals as initially contemplated.
As part of the closeout process, SAB and the DoD will negotiate comprehensively to address all open items under the agreement, which is expected to include a multi-million-dollar payment to SAB.
Also Read: NIH Discontinues COVID-19 Phase 3 Trial Assessing SAB Biotherapeutics' SAB-185.
The conclusion of SAB's agreement with the DoD will allow the company to focus on its core priorities and expand its current pipeline.
SAB has advanced its preclinical program, SAB-195, a polyclonal antibody treatment for Clostridioides difficile Infection, a potentially terminal gastrointestinal infectious disease.
SAB expects to file an IND within 18 months and announce topline results, including an indication of biological activity, from a Phase 1 trial in 2024.
Price Action: SABS shares closed at $1.15 on Tuesday.