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 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.
Sonnet BioTherapeutics (NASDAQ:SONN) announced dosing of 24 healthy volunteers in a Phase 1 clinical trial for SON-1010, aimed at assessing safety and pharmacokinetics (PK). SON-1010 shows a remarkable half-life of approximately 112 hours, significantly longer than the 12 hours of rhIL-12. Early results indicate successful induction of interferon gamma (IFNg) with minimal adverse events, allowing for potential dose escalation. The findings support the effectiveness of the FHAB platform in enhancing drug delivery to tumors, suggesting promising implications for future cancer therapies and potential market opportunities.
Sonnet BioTherapeutics (NASDAQ: SONN) announced a clinical collaboration with Roche to evaluate its lead product, SON-1010, alongside atezolizumab in a study targeting platinum-resistant ovarian cancer. Scheduled to begin in Q2 2023, the Phase 1b/2a trial (SB221) will assess safety and efficacy. SON-1010 is designed to enhance immune response in the tumor microenvironment, potentially improving treatment options for patients with limited alternatives. This marks Sonnet's first combination study, highlighting its importance for the company's growth strategy.
Sonnet BioTherapeutics Holdings (NASDAQ:SONN) reported its fiscal year 2022 results, highlighting significant development milestones. The company initiated two Phase 1 trials for SON-1010, showing promising safety data, and commenced a Phase 1b/2a trial for SON-080, with results anticipated in H1 2023. Sonnet plans a 30% operational expense reduction starting Q2 2023, focusing on enhancing pipeline efficiency and leveraging cost-effective R&D locations. After raising $6.5 million in common stock sales, Sonnet's cash on hand was $3.1 million as of September 30, 2022. Research and development expenses rose to $21.4 million, mainly due to advancing clinical trials.
Sonnet BioTherapeutics announced encouraging interim results from Phase 1 trials of SON-1010, a novel immunotherapeutic targeting advanced solid tumors. A total of 36 subjects have been dosed, with an ongoing dose escalation approved by safety review committees. Key findings include controlled induction of IFNγ and no instances of cytokine release syndrome. Notably, all but one patient remain in the study, and one has displayed tumor improvement after 6 months. The safety profile is favorable, with mild to moderate adverse events, suggesting SON-1010's potential in enhancing immunotherapy.
Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) announced a webcast on November 2, 2022, at 8:30 am ET to share initial clinical data from two studies involving SON-1010. The SB101 trial assesses the safety of SON-1010 in cancer patients, focusing on establishing the maximum tolerated dose (MTD) and recommended Phase 2 dose (RP2D). Concurrently, the SB102 trial evaluates SON-1010 doses in healthy volunteers. Both studies aim to understand safety, pharmacokinetics, and immunogenicity, setting the stage for future immunotherapy combinations.
Sonnet BioTherapeutics (NASDAQ:SONN) announced a collaboration with Janssen Biotech to evaluate its products SON-1010, SON-1210, and SON-1410. The evaluation will focus on in vitro and in vivo efficacy in preclinical models, leveraging Janssen's proprietary cell therapy assets. If successful, Sonnet may pursue an expanded collaboration. This represents Sonnet's first head-to-head evaluation, which could inform oncology indications and potentially lead to a license agreement, as stated by CEO Pankaj Mohan.
Sonnet BioTherapeutics Holdings announced it has regained compliance with Nasdaq's minimum bid price requirement, meeting the $1.00 bid price for 10 consecutive trading days by September 30, 2022. However, the company is still not compliant with the stockholders' equity requirement of $2.5 million, having received a notice from Nasdaq on August 22, 2022. Sonnet has until October 6, 2022, to submit a plan to regain compliance, which, if accepted, could grant an extension of up to 180 days.
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