Sonnet BioTherapeutics Holdings, Inc. (SONN) is focused on novel drugs for cancer therapeutics. The company’s Fully Human Albumin Binding technology uses a fully human single-chain antibody fragment that attaches to human serum albumin for its transportation to target cells.
The price of SONN stock during the regular trading on February 3, 2022, with a 3.91% decline was $0.3. At last check in the premarket, the stock jumped by 4.07%.
SONN: Events and Happenings
On February 3, 2022, SONN updated about its recent SEC filing regarding the acquisition of beneficial ownership of 5% or more of a class of equity securities by passive investors and certain institutions.
SONN: Key Financials
On December 17, 2021, SONN released its financial and corporate results for the fiscal year ended September 1, 2021. Some of the key points are below.
Revenue
Collaboration revenue in the fiscal year 2021 was $0.48 million compared to nil in the same period of 2020. The company’s revenue beat the analyst’s estimates by $483.6 thousand.
EPS
Basic and diluted net loss per share in the FY 2021 was $24.9 million or $1.02 against $24.2 million or $6.96 in the same period in 2020. The company’s earnings figures beat the Consensus Estimate of analysts by $0.13 per share.
SONN: CEO Comments
Speaking at the occasion, SONN CEO Pankaj Mohan stated that FY 2021 brought many milestones for the company including the identification of a bispecific candidate, SON-1410, and many others. He further added that the current pipeline projects position the company in a direction for continued development in 2022.
Conclusion
SONN stock is 89% lower than the past year’s prices as the economic conditions are steady due to pandemics. The company’s Friday premarket stock escalation came after its recent SEC filing news. As the company is preparing for its earnings release, the estimated EPS for the company is -$0.11 per share.
