Why Sonnet BioTherapeutics Stock Is Trading Higher Today

Sonnet BioTherapeutics Holdings Inc SONN is trading significantly higher Tuesday after the company announced the successful completion of the discovery phase for its next preclinical pipeline candidate, SON-1410.

The candidate represents Sonnet BioTherapeutics' second bispecific compound integrating Interleukin 12 with the company's Fully Human Albumin Binding platform. The target indications for SON-1410 will be melanoma and renal cancers.

The candidate is scheduled to enter the next stages of its development during the fourth quarter. The company aims to file an IND in the second half of 2022.

"Our Scientific Advisory Board is very encouraged by these latest data and by the opportunity to further expand our work with IL-18 and IL-12, as we continue the buildout of our immuno-oncology pipeline," said Pankaj Mohan, founder and CEO of Sonnet BioTherapeutics.

SONN Price Action: Sonnet BioTherapeutics has traded as high as $3.41 and as low as 55 cents over a 52-week period.

The stock was up 23.8% at 69 cents at the time of publication. 

Photo by Darko Stojanovic from Pixabay.