Sonnet BioTherapeutics Shares Jump After Janssen Pact For Its Three Product Candidates

• Sonnet BioTherapeutics Holdings Inc (NASDAQ: SONN) announced a collaboration agreement with Janssen Biotech Inc, a Johnson & Johnson (NYSE: JNJ) unit.

• In vitro and in vivo efficacy of SON-1010 (IL12-FHAB), SON-1210 (IL12-FHAB-IL15), and SON-1410 (IL18-FHAB-IL12) will be evaluated in combination with certain Janssen proprietary cell therapy assets.

• The agreement was facilitated by Johnson & Johnson Innovation.

• Sonnet shall supply the three referenced compounds for use in head-to-head studies. If successful and subject to provisions of the agreement, Sonnet could seek an expanded collaboration.

• "This is Sonnet's first head-to-head evaluation of three FHAB-based drug candidates, the results of which will be instructive for expanded oncology indications. A successful evaluation could lead to a potential license agreement", said Pankaj Mohan, Sonnet's Founder and CEO.

• In September, Sonnet BioTherapeutics said that SB101 and SB102 studies dosed 19 subjects to date, with the early review of safety setting the stage for further dose escalation.

• Additional safety and cytokine-specific data are expected during the Q4 of 2022.

• Price Action: SONN shares are up 64.70% at $1.91 on the last check Monday.

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