Why Sonnet BioTherapeutics (SONN) Stock Is Skyrocketing Today - Sonnet BioTherapeutics (NASDAQ:SONN)

Sonnet BioTherapeutics Holdings Inc SONN announced a collaboration agreement with Janssen Biotech Inc, a Johnson & Johnson JNJ unit.
In vitro and in vivo efficacy of SON-1010 (IL12-FHAB), SON-1210 (IL12-FHAB-IL15), and SON-1410 (IL18-FHAB-IL12) will be evaluated in combination with certain Janssen proprietary cell therapy assets.
The agreement was facilitated by Johnson & Johnson Innovation.
Sonnet shall supply the three referenced compounds for use in head-to-head studies. If successful and subject to provisions of the agreement, Sonnet could seek an expanded collaboration.
"This is Sonnet's first head-to-head evaluation of three FHAB-based drug candidates, the results of which will be instructive for expanded oncology indications. A successful evaluation could lead to a potential license agreement", said Pankaj Mohan, Sonnet's Founder and CEO.
In September, Sonnet BioTherapeutics said that SB101 and SB102 studies dosed 19 subjects to date, with the early review of safety setting the stage for further dose escalation.
Additional safety and cytokine-specific data are expected during the Q4 of 2022.
Price Action: SONN shares are up 64.70% at $1.91 on the last check Monday.

Sonnet BioTherapeutics Shares Jump After Janssen Pact For Its Three Product Candidates