Sonnet BioTherapeutics Holdings, Inc. - SONN STOCK NEWS

Sonnet BioTherapeutics (NASDAQ: SONN), a clinical-stage company, announced on May 22, 2024, that its Board of Directors is exploring strategic alternatives to maximize stockholder value. The company has engaged Chardan Capital Markets as its financial advisor to assist with assessing options such as partnerships, joint ventures, acquisitions, mergers, and other strategic transactions.

There is no set timetable for this review, and no decisions have been made regarding the strategic alternatives. Sonnet emphasizes that there is no guarantee that the evaluation will result in any definitive transactions, changes, or outcomes favorable to the company or its shareholders.

Sonnet BioTherapeutics (NASDAQ:SONN) has announced updated clinical data for its drug candidate SON-1010, used as a monotherapy or in combination with atezolizumab (Tecentriq®). The trials have enrolled a total of 61 subjects with dose escalation continuing in SB101 and SB221 trials. SON-1010 showed no dose-limiting toxicities and revealed a 10-fold extended half-life compared to rhIL-12, prolonging IFNγ responses without cytokine release syndrome. Clinical benefits were observed in 35% of evaluable patients with advanced solid tumors. Both trials reported stable disease in 60% of patients at the first follow-up scan. Sonnet is increasing the target dose of SON-1010 to enhance efficacy.

SON-1010 was also tested in a Phase 1 trial (SB102) in healthy volunteers, showing a consistent safety profile. Sonnet’s Chief Medical Officer, Dr. Richard Kenney, emphasized the clean data generated for pharmacokinetic and pharmacodynamic analyses. The combination of SON-1010 with atezolizumab may benefit from turning 'cold' tumors 'hot,' upregulating PD-L1. The company plans to further test the drug in higher doses later this year and expects more updates early next year.

Sonnet BioTherapeutics (NASDAQ:SONN) reported its FY 2024 Q2 and year-to-date business and earnings update. Key highlights include the publication of Phase 1 data showing the safety and tolerability of SON-1010 in Frontiers in Immunology and early safety data from the Phase 1b/2a trial of SON-080 for CIPN. The company received $4.3 million from New Jersey’s tax program. Financials show $3.8 million in cash and reduced R&D and administrative expenses, reflecting cost-saving measures. New partnerships and further development of SON-080 for diabetic peripheral neuropathy are planned.

Sonnet BioTherapeutics Holdings, a biopharmaceutical company, will participate in the EF Hutton Annual Global Conference on May 15, 2024, in New York. Key executives will present, and investor meetings will be held.

Sonnet BioTherapeutics Holdings, Inc. (SONN) to present preclinical data and clinical trial design for SON-080 at AACR Annual Meeting 2023. The study focuses on recombinant human Interleukin-6 for CIPN treatment.

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) announces positive safety review for SON-080 in Phase 1b trial, clearing the path for Phase 2 in Diabetic Peripheral Neuropathy. The study's Data Safety Monitoring Board confirmed the consistent adverse event profile and tolerability of SON-080 with previous IL-6 candidates, supporting further development.

Sonnet BioTherapeutics (SONN) publishes promising clinical data on SON-1010, a tumor-targeted immunotherapeutic drug, in Frontiers in Immunology. The study demonstrates safety, tolerability, and efficacy in healthy volunteers and melanoma models. The results support the potential of SON-1010 in enhancing immune responses in the tumor microenvironment, with implications for combination therapies. The publication marks a significant milestone for Sonnet's FHAB technology, paving the way for further dose escalation studies.

Sonnet BioTherapeutics Holdings, Inc. (SONN) raised $4.55 million through a public offering, published preclinical data on SON-1210, and executed an agreement to sell New Jersey state net operating losses for $4.3 million. They completed enrollment in the Phase 1b portion of the SON-080 trial for chemotherapy-induced peripheral neuropathy. The company provided business updates and financial results for the first quarter of fiscal year 2024.

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) announced the publication of extensive preclinical data on SON-1210 in Frontiers in Immunology. SON-1210 is a novel bifunctional IL-12 / IL-15 fusion protein that improves cytokine half-life, targets tumors, and enhances therapeutic efficacy. The paper demonstrated robust binding affinity, in vitro activity, and tumor model efficacy. Repeat doses in non-human primates displayed excellent safety and tolerability, supporting the advancement of SON-1210 into future clinical development.