Sonnet BioTherapeuticsSONN
SONN
About: Sonnet BioTherapeutics Holdings Inc is a clinical-stage biotechnology company. The company has developed FHAB (Fully Human Albumin Binding) technology which is well suited for drug development across a range of human disease areas, including in oncology, autoimmune, pathogenic, inflammatory, and hematological conditions. The firm's pipeline products include SON-080 (low-dose IL-6), SON-1210 (IL15- FHAB-IL12), SON-1010 (IL12-FHAB), and others.
Employees: 13
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
18.84% less ownership
Funds ownership: 18.85% [Q2] → 0.01% (-18.84%) [Q3]
82% less funds holding
Funds holding: 11 [Q2] → 2 (-9) [Q3]
90% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 10
99% less capital invested
Capital invested by funds: $550K [Q2] → $2.97K (-$547K) [Q3]
100% less funds holding in top 10
Funds holding in top 10: 1 [Q2] → 0 (-1) [Q3]
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 1
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$20
1,182%
upside
Avg. target
$20
1,182%
upside
High target
$20
1,182%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
Chardan Capital Keay Nakae 29% 1-year accuracy 21 / 72 met price target | 1,182%upside $20 | Buy Maintained | 20 Dec 2024 |
Financial journalist opinion
Based on 4 articles about SONN published over the past 30 days
Neutral
GlobeNewsWire
5 days ago
Sonnet BioTherapeutics Reports Fiscal Year 2024 Financial Results and Provides Corporate Update
Continued progress with both clinical trials of lead program, SON-1010, for solid tumors and Platinum-Resistant Ovarian Cancer (PROC)
Neutral
GlobeNewsWire
1 week ago
Sonnet BioTherapeutics Announces $3.9 Million Registered Direct Offering and Concurrent Private Placement Priced At-The-Market Under Nasdaq Rules
PRINCETON, NJ, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Sonnet BioTherapeutics Holdings, Inc. (the "Company" or "Sonnet") (NASDAQ:SONN), a clinical-stage company developing targeted immunotherapeutic drugs, announced today that it has entered into a definitive agreement with institutional investors for the purchase and sale of an aggregate of 1,085,325 shares of its common stock (or common stock equivalents in lieu thereof) (the “Registered Direct Shares”) and warrants to purchase up to an aggregate of 1,085,325 shares of common stock (the “Registered Direct Warrants”), in a registered direct offering. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold in the registered direct offering together with one common warrant at a combined offering price of $2.23, priced at-the-market under the rules of the Nasdaq Stock Market. The Registered Direct Warrants will have an exercise price of $2.10 per share, are immediately exercisable and will expire five years from the date of issuance. The Company has also entered into a definitive agreement with an existing investor, in a concurrent private placement, for the purchase and sale of an aggregate of 673,000 shares of its common stock (or common stock equivalents in lieu thereof) (the “PIPE Shares”) and warrants to purchase up to an aggregate of 673,000 shares of common stock (the “PIPE Warrants”). Each share of common stock (or pre-funded warrant in lieu thereof) is being sold in the private placement offering together with one common warrant at a combined offering price of $2.23, priced at-the-market under the rules of the Nasdaq Stock Market. The PIPE Warrants will have an exercise price of $2.10 per share, are immediately exercisable and will expire five years from the date of issuance.
Neutral
GlobeNewsWire
1 week ago
Sonnet BioTherapeutics Announces Topline Safety Data Following Successful Completion of SON-1010 Monotherapy Dose Escalation in Phase 1 SB101 Trial
The maximum tolerated dose (MTD) of SON-1010 was set at 1200 ng/kg, without dose-limiting toxicity or evidence of cytokine release syndrome at any dose level
Neutral
GlobeNewsWire
2 weeks ago
Sonnet BioTherapeutics Announces Publication Detailing the Discovery and Development of SON-1010, an Albumin-Binding IL-12 Fusion Protein, Demonstrating Its Mechanism of Action
Pankaj Mohan, CEO of Sonnet discusses what this publication means in a Virtual Investor “What This Means” segment; access here
Neutral
GlobeNewsWire
1 month ago
Sonnet BioTherapeutics Releases Virtual Investor ‘”What this Means” Segment
Drs. Pankaj Mohan, CEO of Sonnet, and John Cini, CSO of Sonnet, discuss the Company's recent issuance of a U.S. patent covering a variant of IL-18 incorporated into two novel immunotherapeutic drug candidates, SON-1400 and SON-1411
Neutral
GlobeNewsWire
1 month ago
Sonnet BioTherapeutics Announces Pricing of $5.0 Million Underwritten Public Offering Priced At-The-Market Under Nasdaq Rules
PRINCETON, NJ, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Sonnet BioTherapeutics Holdings, Inc. (the "Company" or "Sonnet”) (NASDAQ: SONN), a clinical-stage company developing innovative targeted immunotherapeutic drugs, today announced the pricing of an underwritten public offering of 1,111,111 shares of common stock (or pre-funded warrants to purchase shares of common stock in lieu of shares of common stock) and common warrants to purchase up to an aggregate of 2,222,222 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with one common warrant at a combined offering price of $4.50, priced at-the-market under the rules of the Nasdaq Stock Market, for total gross proceeds of approximately $5.0 million, before underwriting discounts and commissions and offering expenses payable by Sonnet. Each common warrant is exercisable for two shares of common stock at an exercise price of $4.50 per share for a period of five years from the date of issuance. The offering is expected to close on or about November 7, 2024, subject to the satisfaction or waiver of customary closing conditions.
Neutral
GlobeNewsWire
1 month ago
Sonnet BioTherapeutics Announces Issuance of U.S. Patent Covering a Variant IL-18 Incorporated into Two Novel Immunotherapeutic Drug Candidates
Both novel bifunctional (SON-1411) and monofunctional (SON-1400) fusion proteins exhibit wild-type binding to the IL-18 receptor (IL-18Rc), coupled with undetectable binding to the inhibitory IL-18 binding protein (IL-18BP)
Neutral
GlobeNewsWire
2 months ago
Sonnet BioTherapeutics Inc. Regains Compliance with Nasdaq
PRINCETON, NJ, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Sonnet BioTherapeutics Holdings, Inc. (the “Company” or “Sonnet”) (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, today announced that it received notice on October 16, 2024 from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company regained compliance with the bid price requirement in Listing Rule 5550(a)(2) (the “Bid Price Rule”) for continued listing on the Nasdaq Capital Market.
Neutral
GlobeNewsWire
2 months ago
Sonnet BioTherapeutics Inc. Enters into Licensing Agreement with Alkem Laboratories Limited to Develop and Commercialize SON-080 for Diabetic Peripheral Neuropathy (DPN) in India
Sonnet to receive $1.0 million in upfront payment and up to an additional $1.0 million in milestone payments with a royalty in the low double digits on net sales, less certain expenses, in the India market
Neutral
GlobeNewsWire
2 months ago
Sonnet BioTherapeutics to Receive Non-Dilutive Funding Through New Jersey Tax Certificate Transfer and Australia R&D Tax Incentive Programs
PRINCETON, NJ, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Sonnet BioTherapeutics Holdings, Inc. (the “Company” or “Sonnet”) (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, today announced it has received preliminary approval for a tax credit from the New Jersey Technology Business Tax Certificate Transfer Program administered by the New Jersey Economic Development Authority (NJEDA). Sonnet received approval of its application to sell up to $8,143,144 of its New Jersey State net operating losses (NOLs) and $62,810 of its New Jersey State research and development (R&D) tax credits for proceeds of up to $0.795 million through the New Jersey Technology Business Tax Certificate Transfer Program, subject to execution of such sale. Sonnet also expects to receive a $0.7 million net cash refund from the R&D Tax Incentive Program in Australia.
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