Welcome to our dedicated page for Sonnet Biotherapeutc Hldng news (Ticker: SONN), a resource for investors and traders seeking the latest updates and insights on Sonnet Biotherapeutc Hldng stock.
Sonnet BioTherapeutics Holdings Inc (NASDAQ: SONN) is a clinical-stage biotechnology innovator developing targeted immunotherapies through its proprietary FHAB platform. This page serves as the definitive source for verified company announcements, including clinical trial updates, regulatory milestones, and strategic developments in immuno-oncology.
Investors and researchers will find timely updates on SONN's pipeline progress, including its lead candidates targeting cancer and immune-mediated conditions. Our curated news collection features press releases about FHAB technology advancements, partnership announcements, and financial disclosures – all essential for tracking this innovative biotech's trajectory.
The repository systematically organizes updates across key categories: new patent filings, preclinical data publications, Phase 1 trial results, and executive team developments. Each entry maintains strict editorial standards to ensure compliance with financial reporting regulations.
For those monitoring advancements in bispecific antibody therapies and tumor microenvironment modulation, this resource offers structured access to SONN's scientific and corporate developments. Bookmark this page for efficient tracking of how the company's platform-based approach translates to clinical progress and strategic positioning within the competitive oncology landscape.
Sonnet BioTherapeutics (NASDAQ: SONN) has released a Virtual Investor segment featuring CEO Dr. Pankaj Mohan and CSO Dr. John Cini discussing their recent U.S. patent issuance. The patent covers a variant of IL-18 incorporated into two novel immunotherapeutic drug candidates: SON-1400 (IL-18BPR-FHAB) and SON-1411 (IL-18BPR-FHAB-IL12). Both candidates contain a modified version of recombinant human interleukin-18 (IL-18BPR = Binding Protein Resistant).
Sonnet BioTherapeutics (NASDAQ: SONN) has announced the pricing of an underwritten public offering of 1,111,111 shares of common stock and common warrants. The offering includes common warrants to purchase up to 2,222,222 additional shares. Each share is being sold with one common warrant at a combined price of $4.50, for total gross proceeds of approximately $5.0 million. The common warrants are exercisable for five years at $4.50 per share. The offering is expected to close around November 7, 2024. The proceeds will be used for research and development, clinical trials, working capital, liability repayment, and general corporate purposes.
Sonnet BioTherapeutics (NASDAQ:SONN) announces the issuance of U.S. Patent No. 12,134,635, covering two novel drug candidates: SON-1411 and SON-1400. The patent, effective until June 2044, involves modified interleukin-18 (IL-18BPR) variants. Both drugs show wild-type binding to IL-18 receptor while avoiding binding to the inhibitory IL-18BP. SON-1411 is a bifunctional fusion protein combining IL-18BPR with IL-12, while SON-1400 is a monofunctional fusion protein, both linked to Sonnet's FHAB platform. The technology aims to overcome IL-18BP's inhibitory effects in cancer treatment, potentially expanding immunotherapy applications.
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, has regained compliance with Nasdaq's bid price requirement for continued listing on the Nasdaq Capital Market. The company received notice from Nasdaq on October 16, 2024, confirming its compliance with Listing Rule 5550(a)(2).
As a result, Sonnet will be subject to a Mandatory Panel Monitor for one year from October 16, 2024. If the company falls out of compliance with the Bid Price Rule during this period, it will face stricter consequences, including potential delisting without the opportunity to provide a compliance plan or receive additional time to regain compliance.
Sonnet BioTherapeutics (NASDAQ: SONN) has entered into a licensing agreement with Alkem Laboratories for the development and commercialization of SON-080 for Diabetic Peripheral Neuropathy (DPN) in India. Sonnet will receive $1.0 million upfront and up to an additional $1.0 million in milestone payments, plus a low double-digit royalty on net sales.
Alkem will fund, develop, and commercialize SON-080 for DPN in India, as well as commercialize it for Chemotherapy Induced Neuropathy (CIPN) and Autonomic Neuropathy. The estimated market size for diabetic neuropathy in India is expected to reach $246.7 million by 2030.
SON-080, Sonnet's proprietary version of recombinant human Interleukin-6 (rhIL-6), has shown promising results in preclinical studies for both DPN and CIPN. The company recently announced encouraging data from the Phase 1b portion of its ongoing Phase 1b/2a clinical trial for CIPN treatment.
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) has received preliminary approval for a tax credit from the New Jersey Technology Business Tax Certificate Transfer Program. The company can sell up to $8,143,144 of its New Jersey State net operating losses (NOLs) and $62,810 of its R&D tax credits for proceeds of up to $0.795 million. Additionally, Sonnet expects a $0.7 million net cash refund from the R&D Tax Incentive Program in Australia.
The New Jersey program allows qualified companies to sell unused NOLs and R&D tax credits to unaffiliated, profit-generating corporate taxpayers in New Jersey. Sonnet anticipates receiving the Australian refund before the end of 2024 and the proceeds from the New Jersey program before the end of Q1 2025, subject to execution of the sale.
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) has launched its CEO Corner platform, featuring Founder and CEO Pankaj Mohan. This new initiative aims to provide in-depth perspectives on press releases, events, corporate updates, and pipeline progress. The platform allows interested parties to ask questions and submit topics for future videos.
Pankaj Mohan emphasized the importance of keeping shareholders well-informed for Sonnet's future success. The CEO Corner is designed to offer a broader perspective on news releases, clinical studies, and other business developments. It serves as an additional channel for direct communication with current and potential stockholders.
The first segment of the CEO Corner is now accessible on the Company's website. Segments will remain available for 90 days after posting. This initiative underscores Sonnet's commitment to transparency and shareholder engagement as they progress with their FHAB platform and focus on growing value for all shareholders.
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) has announced a 1-for-8 reverse stock split of its outstanding common stock, effective for trading on September 30, 2024. This move aims to increase the per share trading price to meet Nasdaq's $1.00 minimum bid price requirement. The company's stock will continue trading under the symbol 'SONN' with a new CUSIP number. The reverse split will reduce the number of shares outstanding from approximately 5.2 million to 650,300.
Key points:
- Par value remains $0.0001 per share
- Authorized number of shares unchanged
- No fractional shares issued; cash payments for fractional entitlements
- Applies to outstanding warrants and stock options with adjusted exercise prices
- Stockholders approved the split on September 12, 2024
- Board of directors approved the 1-for-8 ratio on September 23, 2024
Sonnet BioTherapeutics (NASDAQ: SONN) has completed enrollment and initiated dosing in its Phase 1 SB101 clinical trial of SON-1010 (IL12-FHAB) for advanced solid tumors. The study enrolled 24 subjects, with topline safety data expected in Q4 2024. SON-1010 is a targeted immune activation cancer therapy designed to turn 'cold' tumors 'hot'. Key points:
- No dose-limiting toxicities reported to date
- Majority of adverse events mild and transient
- One patient with endometrial sarcoma showed stable disease for almost 2 years
- Controlled induction of interferon gamma observed
- No indication of potential for cytokine release syndrome
Sonnet BioTherapeutics Holdings (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, has announced its participation in the Virtual Investor Closing Bell Series on September 9, 2024, at 4:00 PM ET. The event will feature:
- A corporate overview and business outlook by CEO Pankaj Mohan
- A moderated discussion with live Q&A opportunities
- Pre-submission of questions via email to sonn@jtcir.com
The live video webcast will be available on the company's website, with a replay accessible for 90 days following the event. This presentation offers investors a chance to gain insights into Sonnet's latest developments and future plans in the field of immunotherapy.
