Sonnet Biotherapeutics Holdings Inc. (SONN) stock prices were down by 7.67% as of the market closing on September 14th, 2021. This brought the price per share down to USD$0.56 at the end of the trading day. Subsequent premarket fluctuations have seen the stock surge by 25.40%, bringing it up to USD$0.71.
SONN Stock’s New Candidate
August 30th, 2021 saw SONN stock announce the selection of a novel development candidate after the completion of comparative studies in a mouse melanoma model. The selected candidate will be the company’s second bispecific compound to integrate IL-12 with the company’s Fully Human Albumin Binding platform. The target indications for SON-1410 will be melanoma and renal cancers.
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SONN stock recently completed financing that generated funds in the amount of USD$30 million. Shortly after, the company announced having identified this latest bispecific candidate. The candidate is scheduled to enter the next stages of its development by the last quarter of fiscal 2021. The company is allocating resources towards the filing of an IND by the second half of fiscal 2022. The company’s Scientific Advisory Board has reported very encouraging data. This facilitated further opportunities to continue the expansion of IL-18 and IL-12 programs as the company continues the buildout of its immune-oncology pipeline.
Scope of Treatment
IL18-FHAB-IL12 exhibited statistically significant tumor size reduction in a mouse melanoma study, as compared to the placebo. A separate mouse study was also conducted to compare the selected version of IL18-FHAB-IL12 with two other candidates, GMCSF-FHAB-IL18 and GMCSF-FHAB-IL12. The comparison data indicated substantially greater reduction in the volume of target tumors, as well as higher Interferon Gamma levels and immune cell responses. On the basis of this success, SON-1410 (IL18-FHAB-IL12) will replace SON-2014 (GMCSF-FHAB-IL18) as a development program.
SONN Stock’s Synergistic Drugs
IL18-FHAB-IL12 is the second bispecific candidate that makes use of IL-12. Synergy between the interleukins has been observed as IL-18 upregulates the IL-12 receptor, and vice versa. IL-18 has also been observed to increase the chemokines CXCL9 and CXCL10. SON-1410 has exhibited the potential to make a cold tumor immunologically hot.
Future Outlook for SONN Stock
The company reported a promising quarter, consolidated by the completion of its discovery phase for SON-1410. SONN stock is poised to capitalize on the expanded scope of opportunities presented to it from this latest development. Investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value.