Sonnet Biotherapeutc Hldng Inc Stock Price, News & Analysis

Sonnet BioTherapeutics (NASDAQ: SONN) announced that its stockholders approved the proposed business combination with Hyperliquid Strategies Inc and Rorschach I LLC at a special meeting held on Dec. 2, 2025.

The company said the final voting results from the special meeting will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.

Sonnet BioTherapeutics (NASDAQ: SONN) adjourned its special meeting to allow additional time to solicit votes on the proposed business combination with Hyperliquid Strategies Inc (HSI) and Rorschach I LLC. Of the shares voted to date, more than 95% support the transaction. The board continues to recommend that stockholders vote FOR all proposals.

The adjourned meeting will be held Dec 2, 2025 at 9:00 a.m. ET via https://web.viewproxy.com/sonn/2025SM; the record date is Oct 20, 2025. HSI shares have been approved for Nasdaq listing.

Sonnet BioTherapeutics (NASDAQ:SONN), a clinical-stage company focused on developing immunotherapeutic drugs for the tumor microenvironment (TME), has announced its participation in the upcoming MedInvest Biotech & Pharma Conference in Palo Alto, California.

Interim CEO Raghu Rao will deliver a presentation on Thursday, September 25, 2025, at 9:40 AM PT. The management team will also be available for one-on-one meetings with qualified investors attending the conference. A live webcast of the presentation will be accessible through the Events page in the Investors section of Sonnet's website.

Sonnet BioTherapeutics (NASDAQ:SONN) has released a Virtual Investor segment featuring CMO Dr. Richard Kenney discussing updates on their SB221 clinical trial for platinum-resistant ovarian cancer (PROC). The company reported significant progress with two out of three patients showing partial responses in the E6 dose escalation cohort (1200 ng/kg).

The company has completed enrollment for the expansion group at the highest maintenance dose and plans to add an E7 cohort with a 1500 ng/kg maintenance dose. A preliminary efficacy readout is expected later this year, with plans to proceed to a randomized Phase 2a study in 2026, comparing the treatment to standard of care.

Sonnet BioTherapeutics (NASDAQ:SONN) announced the expansion of its clinical study evaluating SON-1010 in combination with atezolizumab for platinum-resistant ovarian cancer (PROC). The company reported promising results, with 2 out of 3 patients (66%) achieving partial response at the E6 dose level (1200 ng/kg).

Following these positive outcomes, Sonnet is adding a new E7 cohort to test a 25% higher maintenance dose (1500 ng/kg) before proceeding to the randomized Phase 2a portion. The combination therapy has shown acceptable safety signals and controlled induction of IFN. The company expects top-line readouts in Q4 2025.

Previously, in the SB101 monotherapy trial, SON-1010 demonstrated an 83% clinical benefit rate (5 of 6 patients) at the 1200 ng/kg dose.

Sonnet BioTherapeutics (NASDAQ: SONN) has announced a transformative $888 million business combination with Rorschach I LLC to create Hyperliquid Strategies Inc (HSI), which will become the largest U.S.-based public company holding HYPE cryptocurrency in its treasury.

The deal includes $583 million in HYPE tokens (12.6 million tokens) and $305 million in gross cash. Notable strategic investors include Paradigm, Galaxy Digital, Pantera Capital, and others. Post-merger, Bob Diamond will serve as Chairman and David Schamis as CEO of HSI.

The transaction includes a $5.5 million private placement and conversion of $2.0 million in convertible notes. Current Rorschach owners and new investors will own approximately 98.8% of HSI, while SONN legacy stockholders will retain 1.2%. The deal is expected to close in H2 2025.

Sonnet BioTherapeutics (NASDAQ:SONN) announced that its Chief Medical Officer, Dr. Richard Kenney, will present at the 6th Annual Cytokine-Based Drug Development Summit in Boston on May 15, 2025. The presentation, titled "Managing Toxicity Caused by The Over Expression of Cytokines to Widen the Therapeutic Window," will focus on strategies for optimizing cytokine potency while reducing toxicity. Dr. Kenney will discuss receptor bias introduction, therapeutic index considerations, and factors affecting the therapeutic window in cytokine-based therapies. The summit provides a platform for discussing advancements in immunotherapeutic drug development targeting the tumor microenvironment (TME).

Sonnet BioTherapeutics (NASDAQ:SONN) has released a Virtual Investor 'What This Means' segment featuring discussions with Interim CEO Raghu Rao and Chief Medical Officer Dr. Richard Kenney. The segment focuses on recently announced positive safety results for SON-1010 (IL12-FHAB) in combination with atezolizumab at its highest dose level.

The clinical trial in question is a Phase 1b/2a study (SB221) evaluating the treatment in adult patients with advanced solid tumors or platinum-resistant ovarian cancer (PROC). The management team provided insights into the program's future steps during the presentation.

Sonnet BioTherapeutics (NASDAQ:SONN) announced positive safety results for its SON-1010 drug in combination with atezolizumab for treating platinum-resistant ovarian cancer (PROC). The Phase 1b/2a clinical trial established a maximum tolerated dose (MTD) of 1200 ng/kg without dose-limiting toxicity or cytokine release syndrome.

Key findings include:

• 5 of 15 evaluable patients (33%) showed stable disease at four months post-treatment
• One PROC patient achieved partial response with 44% tumor size reduction
• Common side effects included fatigue, fevers, and gastrointestinal symptoms
• 8 of 15 evaluable patients (53%) showed stable disease at first follow-up
• 4 patients continued treatment beyond 6 months

The study will now advance to the expansion phase to evaluate the combination's preliminary effect at MTD before proceeding to Phase 2a randomized comparison with standard care in PROC patients.