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SAB Biotherapeutics, Inc. (NASDAQ:SABS) announced Tuesday that Christine Hamilton and Jeffrey Spragens have resigned from the company’s board of directors. The board’s size was reduced from 11 to nine members following their departures.
According to a statement made in a recent SEC filing, the resignations and board reduction were carried out in accordance with a letter agreement between SAB Biotherapeutics and RA Capital Healthcare Fund, L.P., dated July 21, 2025. The agreement was related to the company’s private placement of securities completed in July 2025.
The company stated that the resignations of Ms. Hamilton and Mr. Spragens were not due to any disagreement with SAB Biotherapeutics on matters related to operations, policies, or practices.
SAB Biotherapeutics is based in Miami Beach, Florida, and its common stock and warrants are listed on The Nasdaq Stock Market under the symbols SABS and SABSW, respectively.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, SAB Biotherapeutics announced that its shareholders approved two significant proposals, one of which allows the issuance of more than 19.99% of the company’s outstanding common stock upon the conversion of its Series B Convertible Preferred Stock. This move could be seen as a "change of control" under Nasdaq rules. Additionally, the company presented promising preclinical and Phase 1 data for its SAB-142 treatment at the European Association for the Study of Diabetes symposium, which led H.C. Wainwright to maintain a Buy rating and a $9.00 price target on the stock. Meanwhile, Chardan Capital Markets lowered its price target for SAB Biotherapeutics from $20.00 to $12.00, though it still maintains a Buy rating, following the company’s second-quarter financial results. SAB Biotherapeutics ended the quarter with $5.7 million in cash and equivalents, a decrease from $20.8 million previously. The company recently secured a $175 million oversubscribed private placement deal, which includes milestone-based warrants potentially worth an additional $284 million. In contrast, Oppenheimer raised its price target to $14.00 from $12.00, maintaining an Outperform rating, following the announcement of this significant financing deal.
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