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Sonnet BioTherapeutics, Inc.: Sonnet BioTherapeutics Provides Fiscal Year 2020 Business and Earnings Update
th, 2020 and provided a business update.
Pankaj Mohan, Ph.D., Founder and CEO commented, This year has been incredibly exciting for Sonnet. We successfully executed our public listing, generated compelling new data to support our therapeutic pipeline and are working to finalize our first out-licensing deal. We believe this positions us well for continued growth and our IND submissions in 2021.
Fiscal Year 2020 and Recent Corporate Updates
Warrant Repricing and Exchange: On August 4
th, Sonnet announced a warrant repricing and exchange that provided the company with approximately $10.5 million of gross proceeds. This restructuring simplified the Company s capital structure and significantly reduced potential future dilution, while providing capital for ongoing operations. ....

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