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.
The news feed for Sonnet BioTherapeutics Holdings, Inc. (formerly Nasdaq: SONN) provides an archive of company announcements, clinical updates, financing disclosures, and corporate transaction news. Sonnet is described as an oncology-focused biotechnology company that develops targeted biologic drugs using its proprietary FHAB (Fully Human Albumin Binding) platform, and its news releases highlight both scientific progress and significant strategic developments.
Readers can review detailed updates on Sonnet’s lead program, SON-1010 (IL‑12‑FHAB), including Phase 1b/2a trial data from the SB221 study in advanced solid tumors and platinum-resistant ovarian cancer. Company news has discussed dose-escalation results, safety and tolerability findings, partial responses observed at higher dose levels, and plans for expansion cohorts and randomized proof-of-concept stages. Additional releases cover SON-1210, an IL12-FHAB-IL15 construct for solid tumors, and collaborations such as those with Roche and the Sarcoma Oncology Center.
The news archive also documents Sonnet’s participation in industry conferences, virtual investor events, and educational segments where members of management and clinical leadership discuss trial design, safety data, and the scientific rationale behind the FHAB platform. These communications offer context on how Sonnet approaches issues like cytokine toxicity, therapeutic windows, and tumor microenvironment targeting.
A major theme in recent news is the business combination between Sonnet BioTherapeutics Holdings, Inc., Hyperliquid Strategies Inc., and Rorschach I LLC. Press releases outline the terms of the transaction, the creation of Hyperliquid Strategies Inc. as a digital asset treasury company focused on the HYPE token, and the resulting structure in which Sonnet becomes a wholly owned subsidiary. These items explain that Hyperliquid Strategies Inc.’s common stock is expected to trade on Nasdaq under the ticker PURR and that Sonnet’s common stock will no longer trade separately.
By following this news stream, investors and observers can see how Sonnet’s clinical developments, financing activities, governance decisions, and corporate transformation have been communicated over time. The archive helps place individual announcements in the broader context of the company’s oncology pipeline and its integration into a parent entity focused on digital asset treasury management.
Sonnet BioTherapeutics (NASDAQ:SONN) reported encouraging data from its Phase 1b/2a clinical trial of SON-080 for Chemotherapy-Induced Peripheral Neuropathy (CIPN). The study showed that SON-080 was well-tolerated at both 20 µg and 60 µg doses, with no evidence of pro-inflammatory cytokine response. Pain and quality of life survey results suggest potential rapid improvement of peripheral neuropathy symptoms and post-dosing durability compared to placebo. Sonnet intends to seek a partnership to initiate a Phase 2 clinical trial of SON-080 in Diabetic Peripheral Neuropathy (DPN), a larger, high-value indication with unmet medical need. The company believes this data bridges the historical safety database and is foundational for advancing SON-080 to Phase 2, evaluating its neuroprotective and neuro-regenerative effects in DPN.
Sonnet BioTherapeutics (NASDAQ: SONN), a clinical-stage company, has announced the exercise of certain outstanding warrants resulting in gross proceeds of $3.4 million. The agreement involves the immediate exercise of warrants for 2,828,500 shares at a reduced price of $1.20 per share, effective June 21, 2024. Ladenburg Thalmann & Co. Inc. is the exclusive placement agent. In return for immediate exercise, Sonnet will issue new unregistered warrants for 5,657,000 shares at $1.55 per share, exercisable immediately and valid for five years. Additional adjustments include reduced exercise prices for other outstanding warrants and an extension of their terms. The funds will be used for R&D, clinical trials, working capital, and general corporate purposes.
Sonnet BioTherapeutics (NASDAQ:SONN) announced the development of two new immunotherapeutic drug candidates, SON-1411 and SON-1400, utilizing a modified IL-18 variant. SON-1411 combines IL-18BPR with IL-12 via Sonnet’s FHAB platform, while SON-1400 solely integrates IL-18BPR with FHAB. These candidates exhibit high bioactivity and target tumor environments more effectively, mitigating the inhibitory effects of IL-18BP. SON-1411 and SON-1400 were produced in CHO cells and E. coli, respectively, and show promising in vitro results for cancer treatment by enhancing immune response against tumors. The new IL-18 variant maintains receptor binding while avoiding IL-18BP inhibition, showcasing potential for broad oncological and cell-based therapies.
Sonnet BioTherapeutics (NASDAQ: SONN) announced the presentation of its SB221 study at the ASCO 2024 Annual Meeting. The study focuses on SON-1010, a recombinant human Interleukin-12 linked to Sonnet's albumin binding domain, in combination with atezolizumab (Tecentriq®). This Phase 1b/2a trial aims to evaluate the safety, tolerability, pharmacokinetics (PK), pharmacodynamics (PD), and efficacy of SON-1010 administered subcutaneously, alone or with a fixed dose of atezolizumab. The poster session is scheduled for June 3, 2024, from 9:00 AM to 12:00 PM CDT in Hall A, as part of the Gynecologic Cancer session. The study targets patients with platinum-resistant ovarian cancer.
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.
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