Sonnet BioTherapeutics Announces Review of Strategic Alternatives

PRINCETON, NJ / ACCESSWIRE / May 22, 2024 / Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN), a clinical-stage company developing targeted immunotherapeutic drugs, announced today that its Board of Directors has initiated a process to explore and review a range of strategic alternatives aimed at maximizing stockholder value.

Sonnet has engaged Chardan Capital Markets, LLC as its financial advisor to assist in this process. The Company will consider various strategic alternatives, including business development, strategic partnerships, joint ventures, acquisitions, mergers, business combinations, in-licensing, and other strategic transactions.

The Company has not set a specific timetable for the conclusion of its review and has not made any decisions regarding strategic alternatives at this time. Sonnet does not plan to comment further on this review unless a definitive course of action is approved, the review process concludes, or further disclosure is deemed appropriate.

There is no guarantee that this evaluation will result in definitive agreements or any strategic changes. The terms of any transactions, if completed, may not be favorable or enhance value as expected.