SONN stock touches 52-week low at $1.33 amid market challenges

In a challenging market environment, Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) stock has recorded a new 52-week low, dipping to $1.33, marking a dramatic 90% decline over the past year. According to InvestingPro analysis, the company appears undervalued at current levels, with a market capitalization of just $4.38 million. The biopharmaceutical company, focused on innovative oncologic and fibrotic disease treatments, has faced significant headwinds over the past year, mirroring the struggles of the broader biotech sector. This latest price level reflects a stark contrast to the more buoyant market conditions of the previous year, with the stock falling nearly 79% in just the past six months. Meanwhile, Chanticleer Holdings Inc , another player in the market, has seen its stock value plummet by an alarming 90.59% over the same period, underscoring the volatility and risk inherent in the industry. The 52-week low for SONN stock may prompt investors to consider the company’s long-term strategy and market position as they assess the potential for recovery or further decline. InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics to make more informed investment decisions.

In other recent news, Sonnet BioTherapeutics Holdings, Inc. has announced the completion of dose escalation in its Phase 1 SB101 clinical trial of SON-1010 for advanced solid tumors, determining the maximum tolerated dose to be 1200 ng/kg without significant toxicity. The trial reported that 48% of evaluable patients maintained stable disease four months after beginning treatment, with one patient experiencing a partial response. Additionally, Sonnet has expanded its Phase 1 SB101 trial to include a new cohort combining SON-1010 with trabectedin for treating advanced soft-tissue sarcoma, with enrollment underway and topline safety data expected in the second half of 2025. The company also highlighted the publication of a study in the journal Frontiers in Immunology, detailing SON-1010’s mechanism of action and its potential to enhance cytokine delivery in cancer treatment. Sonnet’s proprietary platform combines interleukin-12 with its fully human albumin-binding technology, aiming to improve therapeutic efficacy while minimizing toxicity. Furthermore, Sonnet announced its intention to advance its Antibody Drug Conjugate platform, with its initial construct SON-5010 showing promising preclinical results. In leadership news, Stephen J. McAndrew, Ph.D., was appointed as Chief Business Officer to further the company’s business development and licensing strategies. These developments reflect Sonnet’s ongoing efforts to advance its oncology-focused pipeline and explore strategic partnerships.

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