{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-008871","form_type":"8-K","ticker":"SABS","cik":"0001833214","company_name":"SAB Biotherapeutics, Inc.","filed_at":"2023-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.936171+00:00","generated_at":"2026-06-17T08:21:43.862964+00:00","sec_items":["2.02","4.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"SAB Biotherapeutics restates 2021 financials, delays 10-K; reports $15M cash, reduced burn","bullets":["Restatement of 2021 financials due to misclassification of insurance financing; no net income impact, but prior statements should no longer be relied upon.","Cash and equivalents $15.0M as of Dec 31, 2022 (down from $33.2M); annualized cash consumption reduced to $18M from $60M.","Received $16.8M total from US government settlement for COVID-19 therapeutic SAB-185; first $8.6M in Nov 2022, second $8.2M in Jan 2023.","Raised $7.9M in private placement; appointed new CMO Alexandra Kropotova and board member Scott Giberson.","Pipeline progress: SAB-142 type 1 diabetes IND-enabling studies completed; SAB-176 influenza Phase 2a data; SAB-195 C. diff program initiated."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-008871","json":"https://secwatch.observer/filing/0001437749-23-008871.json","markdown":"https://secwatch.observer/filing/0001437749-23-008871.md","text":"https://secwatch.observer/filing/0001437749-23-008871.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1833214/000143774923008871/0001437749-23-008871-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1833214/000143774923008871/sabs20230330_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T08:21:43.862964+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1fc4098b2e54f3782d6e778851e52664a0b60b27","claim":"SAB Biotherapeutics, Inc. reported that prior financial statements should not be relied upon.","evidence_excerpt":"in the Company's Quarterly Reports on Forms 10-Q for the three months ended March 31, 2022, the six months ended June 30, 2022, and nine months ended September 30, 2022 (the “Prior Period Interim Financial Statements”), should no longer be relied upon as a result of the following accounting errors: ● The Company concluded that it did not correctly account for a financed insurance premium whereby a third-party lender prepaid the Company's annual insurance premiums to our insurance companies in exchange for a short-term interest bearing note (the “Insurance Financing Agreement”). The Company previously recognized, on its consolidated balance sheet, a current prepaid asset for the amount paid by the Company under the Insurance Financing Agreement in excess of the total amortized value of the prepaid insurance policy. The Company reassessed its accounting for the Insurance Financing Agreemen","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1833214/000143774923008871/0001437749-23-008871-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"}],"fact_type":"auditor_change"},{"claim_id":"802b82ad7e11262db35b0a10823de7d3eac73610","claim":"SAB Biotherapeutics, Inc. updated its full year ended December 31, 2022 guidance (reaffirmed).","evidence_excerpt":"On March 31, 2023, SAB Biotherapeutics, Inc., a Delaware corporation (the “Company”) issued a press release announcing its financial results for the year ended 2022.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1833214/000143774923008871/0001437749-23-008871-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full year ended December 31, 2022"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}