Sonnet Biotherapeutc Hldng Inc Stock Price, News & Analysis

Sonnet BioTherapeutics announced the initiation of a second Phase 1 clinical trial for SON-1010 (IL12-FHAB) after successfully starting its first trial. This new study will provide important pharmacokinetic (PK) and pharmacodynamic (PD) data, focusing on safety and tolerability in healthy volunteers in Australia. SON-1010 utilizes the F technology to enhance delivery to tumors. The trial aims to inform further potential applications of SON-1010 while expanding on its foundational bispecific molecule research.

Sonnet BioTherapeutics (NASDAQ:SONN) reported promising preclinical data indicating that SON-1010 (IL12-F_HAB) combined with a commercially available anti-PD1 antibody led to significant tumor growth inhibition in a melanoma model. The combination resulted in a 79.1% inhibition rate compared to a placebo group and improved survival rates, with seven out of nine mice surviving the combination treatment. These results highlight the potential of SON-1010 in enhancing checkpoint inhibitor efficacy, aiding future study designs.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) announced the adjournment of its 2022 Annual Meeting due to lack of quorum. The meeting, originally held on June 2, 2022, will reconvene on June 23, 2022, at 9:00 a.m. ET. Only 46% of outstanding shares entitled to vote were represented. Stockholders of record as of April 4, 2022, are encouraged to vote by June 22, 2022. The company aims to finalize voting on proposals outlined in its proxy statement filed on April 12, 2022. The Board recommends voting in favor of all proposals.

Sonnet BioTherapeutics Holdings announced the clearance of IND for its lead asset, SON-1010, and the initiation of its first clinical trial for advanced solid tumors. The company aims to advance SON-080 into clinical studies by mid-2022 and plans non-human primate toxicity studies for SON-1210 soon. Financially, Sonnet reported $13.6 million in cash with R&D expenses rising to $6.4 million in Q2 2022, driven by increased operational activities. The decrease in general and administrative expenses to $1.9 million indicates ongoing cost management efforts.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) announced the initiation of a Phase 1 clinical trial for SON-1010 (IL12-FHAB) in adult patients with advanced solid tumors. This trial aims to evaluate the safety, tolerability, and pharmacokinetics of SON-1010. The FHB technology targets tumors, potentially enhancing the efficacy and safety of immunotherapy. The trial, employing a 3+3 design, seeks to establish the maximum tolerated and recommended doses. Dr. Richard Kenney expressed optimism about the potential of SON-1010 to improve cytokine immunotherapy outcomes.

Sonnet BioTherapeutics Holdings, (NASDAQ:SONN) announced significant preclinical data for its bispecific interleukin candidates, SON-1010, SON-1210, and SON-1410, during the AACR Annual Meeting 2022. The studies demonstrated effective tumor growth reduction in a B16-F10 melanoma model, with 67% reduction for SON-1210 and 76% for SON-1410 at a 5µg dose. The company plans to initiate the first patient dosing for SON-1010, paving the way for further development of its bispecific candidates.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) has received FDA clearance for its Investigational New Drug (IND) application for SON-1010, a proprietary version of Interleukin 12 (IL-12), marking the company's first IND clearance. This enables the initiation of a Phase 1 trial aimed at evaluating the safety and efficacy of SON-1010 in adult oncology patients, expected to begin in Q2 2022. The trial will focus on safety, tolerability, and pharmacokinetics, utilizing a standard 3+3 oncology design to establish dosing parameters.

Sonnet BioTherapeutics Holdings (NASDAQ:SONN) announced that its preclinical data on Fully Human Albumin Binding candidates (SON-1010, SON-1210, SON-1410) will be presented at the AACR Annual Meeting 2022 from April 8-13 in New Orleans. The presentation will showcase an innovative platform for targeted delivery of bispecific interleukins to tumors. The session is scheduled for April 13, 2022, from 9:00 AM to 12:30 PM EDT. The company focuses on developing biologic drugs that improve therapeutic efficiency and safety.

Sonnet BioTherapeutics Holdings, with ticker SONN, announced progress in its clinical pipeline and financial results for Q1 FY 2022. The company is set to initiate clinical studies for SON-1010 and SON-080 in Q2 2022, alongside completing R&D for a toxicity study for SON-1210. Financially, Sonnet held $19.4 million in cash, with R&D expenses increasing to $4.3 million from $3.9 million year-over-year. The net loss for the quarter was $6.2 million, a slight increase compared to the previous year's loss of $5.9 million.