SAB Biotherapeutics shares jump 11.71% intraday after reporting $45.4M Q3 net income, driven by warrant liability gains and $168.7M fundraising.

SAB Biotherapeutics surged 11.71% intraday after reporting a significant financial turnaround in its Q3 2025 earnings. The company posted a net income of $45.4 million, a stark improvement from a $10.3 million loss in the same period last year, driven by a $61.6 million gain from warrant liability fair value adjustments. SAB also raised $168.7 million via a private placement, boosting cash reserves to $29.4 million. These results, coupled with progress on its lead type 1 diabetes candidate SAB-142, reinforced investor confidence in the biopharma firm’s strategic direction and financial stability.