See Why Sonnet BioTherapeutics Stock Is Skyrocketing In Premarket Tuesday
- Sonnet BioTherapeutics Holdings Inc (NASDAQ: SONN) stock is soaring during premarket in reaction to the selection of SON-1410 as a development candidate for melanoma and renal cancers.
- SON-1410 represents Sonnet's second bispecific compound integrating Interleukin 12 (IL-12) with the Company's Fully Human Albumin Binding (FHAB) platform.
- Related: Recently, the Company announced a $30M Equity Raise.
- IL18-FHAB-IL12 showed statistically significant tumor size reduction in a mouse melanoma study compared with the placebo, as well as a dose-response.
- A separate mouse study was also performed comparing the selected version of IL18-FHAB-IL12 with two other candidates, GMCSF-FHAB-IL18 and GMCSF-FHAB-IL12.
- The comparison data indicated a significant reduction in tumor volume, along with higher Interferon Gamma levels and immune cell responses.
- Sonnet is initiating the manufacturing process for SON-1410 with cell line and process development, followed by manufacturing for a toxicology study. It plans to file an IND during 2H of 2022.
- Price Action: SONN shares are 54.7% at $0.86 during the premarket session on the last check Tuesday.
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