Penny stock Sonnet Bio surges on positive pre-clinical data
09/06/2022 13:42
** Shares of Sonnet BioTherapeutics Holdings Inc SONN.O
jump 37.5% to 33 cents in heavy premarket volumes
** Stock, which has traded below the $1-mark since August
last year, is the heaviest traded across U.S. exchanges
** Says a study of its experimental cancer drug in
combination with an immune-checkpoint inhibitor therapy - which
is widely used for cancer treatment - showed strong efficacy in
mice urn:newsml:reuters.com:*:nACSZXnW0a
** "These data support our strategy of pairing SON-1010 with
a checkpoint inhibitor, with the goal of developing an improved
treatment option for cancer patients" - CEO Pankaj Mohan
** More than 10 mln shares traded premarket, already 15.6x
their 25-DMA
** Shares have lost nearly 42% of their value YTD
(Reporting by Manas Mishra)
((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))