Sonnet BioTherapeutics (SONN) Stock Declines 35.81% Within A Week Amid It Successfully Finishes Discovery Phase 

The stock market of healthcare company experiences a rapid plunge of 35.81% during the last month. It reaches a new mark of $0.5649. After completing comparative tests in a mouse melanoma model, Sonnet BioTherapeutics Holdings, a biopharmaceutical company developing breakthrough targeted biologic medicines, said today that it has identified a unique development candidate. Interleukin 12 (IL-12) and Sonnet’s Fully Human Albumin Binding (FHAB) platform are combined in this candidate, which is the company’s second bispecific chemical. Melanoma and kidney malignancies will be the target indications for SON-1410.
The company is excited to have identified this latest bispecific candidate, which is scheduled to enter the next stages of development during the fourth quarter of 2021, with the goal of filing an IND in the second half of 2022, following the recently completed $30 million financings. IL18-FHAB-IL12 showed statistically significant tumor size reduction in a mouse melanoma study compared with the placebo, as well as a dose-response.

Miriam Bozini

Finance and Business Reporter

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