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Sonnet BioTherapeutics Holdings, Inc. - SONN STOCK NEWS

Welcome to our dedicated page for Sonnet BioTherapeutics Holdings news (Ticker: SONN), a resource for investors and traders seeking the latest updates and insights on Sonnet BioTherapeutics Holdings stock.

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) is a clinical-stage biotechnology company based in Cranbury, New Jersey. The firm is pioneering the development of targeted immunotherapeutic drugs primarily aimed at treating cancers. Sonnet employs its proprietary FHAB (Fully Human Albumin Binding) technology, which utilizes a single-chain antibody fragment that binds to human serum albumin for targeted delivery to tumor and lymphatic tissues. This innovative platform enhances drug efficacy and safety by extending the half-life of therapeutic agents and concentrating them in the tumor microenvironment (TME).

Sonnet’s mission focuses on generating immuno-oncology candidates and advancing them to Phase II clinical assets. The company's current pipeline includes several promising products:

  • SON-080 - A low-dose IL-6 aimed at treating chemotherapy-induced peripheral neuropathy (CIPN).
  • SON-1210 - Combines IL-12 and IL-15 with Sonnet's FHAB for robust immune response targeting tumors.
  • SON-1010 - Consists of a single-chain IL-12 linked with the albumin-binding domain for enhanced targeting and efficacy in cancer treatment.

Recent achievements include the publication of preclinical data demonstrating the efficacy of SON-1210 in reducing tumor growth in melanoma models. Additionally, the company reported positive safety and tolerability results from Phase 1 studies of SON-1010 in healthy volunteers and cancer patients.

Sonnet's collaboration with Genentech for the combination study of SON-1010 and atezolizumab (Tecentriq) in platinum-resistant ovarian cancer is a significant milestone. Financially, the company has successfully leveraged tax credits and managed its cash runway effectively, projecting operations funding into the latter part of 2024.

The company is also actively exploring strategic alternatives to maximize stockholder value, having engaged Chardan Capital Markets to assist in evaluating potential business development, partnerships, acquisitions, or mergers.

News

Sonnet BioTherapeutics Provides Fiscal Year 2023 Business and Financial Update

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Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) announced its financial results for the fiscal year ended September 30th, 2023 and provided a business update. The company had a productive year with important achievements across its pipeline, including the successful completion of the Phase 1 SB102 study with SON-1010 in healthy volunteers and initial data reported from the Phase 1 SB101 study in cancer patients. Sonnet also announced a collaboration agreement with Roche for the clinical evaluation of SON-1010 with atezolizumab in platinum-resistant ovarian cancer patients.
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Sonnet BioTherapeutics Provides Fiscal Year 2023 Business Overview

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Sonnet BioTherapeutics Holdings, Inc. completes a $4.55 million financing, projecting cash runway into Q3 2024. The company focuses on business development initiatives and expects updates in the next few quarters. The company advances its therapeutic pipeline with the initiation of the SB221 study in platinum-resistant ovarian cancer and expects early safety data from the SON-080 study in CIPN by the end of 2023.
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Sonnet BioTherapeutics Announces Pricing of $4.55 Million Underwritten Public Offering

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Sonnet BioTherapeutics Holdings, Inc. announces the pricing of an underwritten public offering of common stock and investor warrants, with total gross proceeds of approximately $4.55 million.
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Sonnet BioTherapeutics Announces Abstract Accepted for Presentation by a Key Opinion Leader at the 2023 Connective Tissue Oncology Society (CTOS) Annual Meeting

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Sonnet BioTherapeutics to present interim data from SB101 clinical trial at Connective Tissue Oncology Society Annual Meeting 2023
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Sonnet BioTherapeutics Announces Results of Biodistribution Studies Demonstrating Solid Tumor Targeting Using the FHAB Technology

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Sonnet BioTherapeutics announces data from radiolabeling studies validating tumor targeting attributes of FHAB technology. mIL12-FHAB showed 2.5-4.7 times higher tumor accumulation and increased retention compared to mIL-12. FHAB technology enables broader therapeutic window and potential for improved efficacy.
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Sonnet BioTherapeutics Regains Nasdaq Minimum Bid Price Compliance

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Sonnet BioTherapeutics regains compliance with Nasdaq minimum bid price requirement
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Sonnet BioTherapeutics Announces 1-for-22 Reverse Stock Split

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Sonnet BioTherapeutics Holdings, Inc. announces a 1-for-22 reverse stock split to increase per share trading price and meet Nasdaq listing requirements.
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Sonnet BioTherapeutics Announces FDA Acceptance of the Company's IND for the SB221 Clinical Trial of SON-1010 Combined with Atezolizumab in the US

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Sonnet BioTherapeutics' IND for SB221 (NCT05756907) has been accepted by the FDA, allowing the Phase 1b/2a clinical trial of SON-1010(IL12-FHAB) in combination with Roche's atezolizumab to begin in the US for the treatment of platinum-resistant ovarian cancer (PROC). The trial aims to establish the maximum tolerated dose (MTD) of SON-1010 and confirm clinical benefit in PROC. Additionally, the study will investigate SON-1010 monotherapy, its combination with atezolizumab, or standard of care (SOC) in a randomized comparison to show proof-of-concept (POC). The addition of US trial sites is expected to accelerate the recruitment rate. SON-1010 is a proprietary version of IL-12 with extended pharmacokinetic properties, and atezolizumab is an approved immune checkpoint inhibitor for cancer treatment. The combination of these two agents presents an opportunity to address the unmet medical need in ovarian cancer.
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Sonnet BioTherapeutics Provides Fiscal Year 2023 Third Quarter Business and Earnings Update

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Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) announced the initiation of a combination study of SON-1010 with Roche's atezolizumab in Australia, the completion of the first SON-1010 Phase 1 study, and early safety data from the SON-080 trial in CIPN. The collaboration with Janssen to evaluate the efficacy of SON-1010, SON-1210, and SON-1410 with certain Janssen cell therapy assets is ongoing. The company also provided financial results for the three months ended June 30, 2023, showing $7.0 million cash on hand and a decrease in research and development expenses compared to the previous year.
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Sonnet BioTherapeutics to Present at the 2023 BTIG Virtual Biotechnology Conference

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Sonnet BioTherapeutics Holdings, Inc. will be presenting a corporate overview at the BTIG Virtual Biotechnology Conference on August 7-8, 2023.
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FAQ

What is the current stock price of Sonnet BioTherapeutics Holdings (SONN)?

The current stock price of Sonnet BioTherapeutics Holdings (SONN) is $1.42 as of December 24, 2024.

What is the market cap of Sonnet BioTherapeutics Holdings (SONN)?

The market cap of Sonnet BioTherapeutics Holdings (SONN) is approximately 4.3M.

What is the primary focus of Sonnet BioTherapeutics?

Sonnet BioTherapeutics focuses on developing targeted immunotherapeutic drugs primarily for cancer treatment using its proprietary FHAB technology.

Where is Sonnet BioTherapeutics based?

Sonnet BioTherapeutics is based in Cranbury, New Jersey.

What is FHAB technology?

FHAB (Fully Human Albumin Binding) technology utilizes a single-chain antibody fragment that binds to human serum albumin for targeted drug delivery to tumor and lymphatic tissues.

What are some of Sonnet's leading drug candidates?

Sonnet's leading drug candidates include SON-080 for CIPN, SON-1210 for dual IL-12 and IL-15 targeting, and SON-1010 for targeted IL-12 delivery to tumors.

What recent achievements has Sonnet BioTherapeutics made?

Recent achievements include the publication of preclinical data on SON-1210's efficacy in reducing tumor growth, and positive safety results from Phase 1 studies of SON-1010.

What financial strategies has Sonnet employed?

Sonnet has optimized its operations by leveraging tax credits and managing its cash runway to extend funding into the latter part of 2024.

What collaborations is Sonnet involved in?

Sonnet is collaborating with Genentech to study the combination of SON-1010 and atezolizumab (Tecentriq) in platinum-resistant ovarian cancer.

What strategic alternatives is Sonnet exploring?

Sonnet is exploring a range of strategic alternatives, including business development, partnerships, acquisitions, and mergers, to maximize stockholder value.

Who is advising Sonnet on strategic alternatives?

Sonnet has engaged Chardan Capital Markets as its financial advisor to assess potential strategic alternatives.

What is the mission of Sonnet BioTherapeutics?

Sonnet's mission is to generate immuno-oncology candidates and advance them into Phase II clinical assets, leveraging its unique IP-driven platform.

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Sonnet BioTherapeutics Holdings, Inc.

Nasdaq:SONN

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SONN Stock Data

4.27M
2.96M
4.22%
0.61%
4.2%
Biotechnology
Pharmaceutical Preparations
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United States of America
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