Analyst Sees Around 1,500% Upside For This Penny Stock Focused On Cancer

  • EF Hutton is assuming coverage of Sonnet BioTherapeutics Holdings Inc SONN with a Buy rating and a $6.70 price target
  • Sonnet has a protein engineering platform called FullyHuman Albumin Binding (FHAB), which utilizes a single-chain antibody fragment(scFv) to deliver one or two active drug compounds to maximize the benefits of cytokines against solid tumors. 
  • The analyst notes Sonnet’s lead clinical candidate, SON-1010, is designed to harness the potential ofIL-12, a regulator of T-cells and antibody-mediated immune responses.
  • Clinical trials of recombinant human IL-12 were conducted as far back as the 1990s; however, despite intriguing signs of efficacy in solid tumors, single-agent therapy with the native molecule proved toxic.
  • At the ACCR data presentation, Sonnet announced that the safety of SON-1010 dosing has been formally reviewed in both the current Phase 1 clinical trials, and the company is now enrolling the final dose cohort in the cancer trial
  • Of the 15 patients from the first five cohorts of SB101 evaluable for follow-up at this latest cutoff, 9 had stable disease at the first follow-up scan, 4 of which were already progressing at study entry
  • Price Action: SONN shares are up 35% at $0.39 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Price Target
Posted In: Analyst ColorBiotechEquitiesNewsPenny StocksHealth CarePrice TargetInitiationMarketsAnalyst RatingsMoversTrading IdeasGeneralBriefsExpert Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!