Those who are looking into the biopharmaceutical sector at this point in time then it could be a good move to take a look at the Sonnet BioTherapeutics Holdings Inc (NASDAQ:SONN ) stock. Yesterday, the company was in focus after it made a major announcement with regards to a novel candidate for development.
Hence, it is no surprise that the stock has made a big move in the premarket trading period and gone up by as much as 40% already. It is likely that the stock is going to be in considerable focus among investors today and hence, it could be important to take a closer look at the announcement.
The company announced that after the conclusion of comparative studies in a mouse melanoma model it managed to identify its new development candidate. The announcement is a significant one for the company and the excitement among investors is also understandable. This new candidate is meant for the treatment of renal cancers and melanoma and makes up the second biospecific compound that the company has managed to come up with. Investors could do well to keep a close eye on the Sonnet stock this morning and watch the price action.
