Analyst Sees Around 1,500% Upside For This Penny Stock Focused On Cancer

EF Hutton is assuming coverage of Sonnet BioTherapeutics Holdings Inc SONN with a Buy rating and a $6.70 price target.
Sonnet has a protein engineering platform called FullyHuman Albumin Binding (FHAB), which utilizes a single-chain antibody fragment(scFv) to deliver one or two active drug compounds to maximize the benefits of cytokines against solid tumors.
The analyst notes Sonnet’s lead clinical candidate, SON-1010, is designed to harness the potential ofIL-12, a regulator of T-cells and antibody-mediated immune responses.
Clinical trials of recombinant human IL-12 were conducted as far back as the 1990s; however, despite intriguing signs of efficacy in solid tumors, single-agent therapy with the native molecule proved toxic.
At the ACCR data presentation, Sonnet announced that the safety of SON-1010 dosing has been formally reviewed in both the current Phase 1 clinical trials, and the company is now enrolling the final dose cohort in the cancer trial.
Of the 15 patients from the first five cohorts of SB101 evaluable for follow-up at this latest cutoff, 9 had stable disease at the first follow-up scan, 4 of which were already progressing at study entry.
Price Action: SONN shares are up 35% at $0.39 on the last check Thursday.