Sonnet BioTherapeutics Holdings, Inc. - SONN STOCK NEWS

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) reported progress in its Phase 1 clinical trials for SON-1010, an immunotherapeutic drug. The company is enrolling the final dose cohort for the cancer trial (SB101) which has dosed 15 patients, with 36% showing clinical benefit based on stable disease results. No dose-limiting toxicities were observed, and adverse events were mostly mild and transient. SON-1010 demonstrated a prolonged half-life, with pharmacokinetic data suggesting effective targeting of tumors. The next steps include investigating SON-1010's impact on platinum-resistant ovarian cancer. Sonnet's current financial position allows for operational activities into 2024. A webinar discussing these results is scheduled for today at 5 pm ET.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN), a clinical-stage biopharmaceutical firm, announced a webcast on April 18, 2023, at 5:00 pm ET to present data from its SB101 study with SON-1010 involving oncology patients (NCT05352750). Presenters include Richard Kenney, M.D. and Pankaj Mohan, Ph.D.. The webcast will offer a detailed overview of the clinical trial and will be available for later access on the company's website. Also, a poster presentation titled Clinical development of a novel form of interleukin-12 will occur during the AACR 2023 Annual Meeting on April 18, from 1:30 pm to 5:00 pm ET. Sonnet's FHB technology aims to enhance the efficacy of immunotherapeutic drugs by targeting tumor tissues effectively, which is essential for its ongoing clinical applications.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) announced it will present data from the SB101 multiple-dose clinical trial of SON-1010 (IL12-FHAB) at the AACR Annual Meeting 2023 in Orlando, Florida, from April 14-19. The presentation, titled "Clinical development of a novel form of interleukin-12 with extended pharmacokinetics," is scheduled for April 18, 2023, from 1:30 PM to 5:00 PM. SON-1010 is designed for treating adult patients with advanced solid tumors and utilizes F_HAB technology for improved targeting of tumor and lymphatic tissues. This marks a significant step in Sonnet's commitment to advancing oncology treatments.

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) announced its financial results for Q1 FY 2023, highlighting significant developments in its clinical trials and collaborations. The company presented positive early clinical data for SON-1010, a promising IL-12 candidate, and completed IND-enabling toxicology studies for SON-1210. A collaboration with Janssen Biotech is set to evaluate three pipeline compounds. Financially, Sonnet raised $15 million from a public offering, although it reported a net loss of $5.54 million for the quarter, with cash on hand totaling $1.7 million. The company plans to reduce operating expenses by approximately 30% to extend its cash runway.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) announced the pricing of an underwritten public offering of 13,888,888 shares of common stock at a price of $1.08 per share, expected to generate approximately $15 million in gross proceeds before expenses.

This offering includes investor warrants enabling the purchase of up to 27,777,776 additional shares. Net proceeds will be used for further R&D, clinical trials, and general corporate purposes. The offering is set to close on February 10, 2023, pending customary conditions.

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) announced the successful completion of two IND-enabling toxicology studies for SON-1210, its lead bifunctional therapeutic candidate. The studies showed no serious adverse events, and SON-1210 was well-tolerated at doses 50 times higher than expected human levels. Observations included a controlled rise in interferon gamma (IFNg) without cytokine release syndrome or off-target toxicity. The results pave the way for regulatory filings in the first half of 2023, aimed at initiating human trials, particularly for targeting cancers by stimulating an immune response.