Sonnet BioTherapeutics Inc. (NASDAQ: SONN) stock declined by 7.61% at last close whereas the SONN stock-price gains by 14.55% in the pre-market trading session even though the company has not reported any current development. Sonnet BioTherapeutics is an oncology-focused biotechnology business that has developed a patented platform for developing single- and bispecific biologic medicines.
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SONN stock’ Past Development
After finishing comparative tests in a mouse melanoma model, Sonnet BioTherapeutics Holdings reported the selection of a novel development candidate. Interleukin 12 (IL-12) and Sonnet’s Fully Human Albumin Binding (FHAB) platform are combined in this candidate, which is the company’s second bispecific chemical. Melanoma and kidney malignancies will be the target indications for SON-1410.
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Sonnet’s Scientific Advisory Board, which included oncologists from MD Anderson Cancer Center, Fox Chase Cancer Center, UMDNJ-Robert Wood Johnson Medical School/Cancer Institute of New Jersey, and Moffitt Cancer Center in Tampa, Florida, examined the data.
With the goal of filing an IND in the second half of 2022, Sonnet is starting the production process for SON-1410 with cell line and process development, accompanied by production for a toxicity investigation.
Pankaj Mohan, Sonnet founder, and CEO, stated that,
They are delighted to have discovered this newest bispecific candidate, which is slated to begin the next process of growth during the fourth quarter of 2021, with the goal of filing an IND in the second half of 2022, following their recently concluded $30 million financing. As they continue to build up their immuno-oncology pipeline, their Scientific Advisory Board is very pleased by these latest findings, as well as the chance to broaden their work with IL-18 and IL-12.
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Furthermore,
Sonnet’s Chief Medical Officer, Richard T. Kenney, further added that as they continue their search for innovative, bispecific combinations with deep anticancer effects, the choice to advance the SON-1410 construct is critical for Sonnet. When coupled with IL-12, IL-18 is a member of the IL-1 superfamily of cytokines that stimulates Th1 cells while also boosting natural killer (NK) cells. The results of their animal studies show that SON-1410 is a chemical that could be used to utilize IL-18 as a potentially beneficial treatment tool for oncologists.