Company research
Sonnet BioTherapeutics Holdings, Inc.
CIK 1106838Updated Sep 26, 2026
Securities
Historical securities (1)
HOTRW · NASDAQ · warrant · closed Jun 19, 2017Name history
Chanticleer Holdings, Inc. · through Mar 31, 2020TULVINE SYSTEMS INC · through Mar 31, 2005
HOTRW price & chart
Historical security
This listing closed Jun 19, 2017. Live provider charts are shown only for current listings.
About the company
Sonnet BioTherapeutics Holdings, Inc. (“we,” “us,” “our” or the “Company”), is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single- or bi-specific action. Known as FHAB™ (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment that binds to and “hitch-hikes” on human serum albumin for transport to target tissues. We designed the construct to improve drug accumulation in specific tissues, as well as to extend the duration of activity in the body. FHAB development candidates are produced in a mammalian cell culture, which enables glycosylation, thereby reducing the risk of immunogenicity. We believe our FHAB technology, for which we received a U.S. patent in June 2021, is a distinguishing feature of our biopharmaceutical platform that is well suited for future drug development across a range of human disease areas, including in oncology, autoimmune, pathogenic, inflammatory, and hematological conditions.
In the news
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Recent filings
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 14,884,558Source | 2,771,030Source | 5,429,478Source | 5,830,012Source |
| Property, Plant and Equipment, NetUSD | 10,906Source | 20,523Source | 33,366Source | 46,211Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 5,120,264Source | 149,456Source | — | — |
| Assets, CurrentUSD | 14,342,726Source | 2,117,943Source | 4,738,229Source | 5,413,927Source |
| Prepaid Expense and Other Assets, CurrentUSD | 470,615Source | 1,206,409Source | 1,677,396Source | 2,361,048Source |
| Operating Lease, Right-of-Use AssetUSD | 43,775Source | 123,417Source | 193,689Source | 256,594Source |
| Other Assets, NoncurrentUSD | 487,151Source | 494,147Source | 414,206Source | — |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 4,096,979Source | 3,256,769Source | 5,655,458Source | 8,368,731Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 1Source | — | — | — |
| Common Stock, Value, IssuedUSD | 708Source | 65Source | 175Source | 554Source |
| Additional Paid in CapitalUSD | 144,479,342Source | 117,195,181Source | 110,017,598Source | 88,871,786Source |
| Retained Earnings (Accumulated Deficit)USD | -133,692,472Source | -117,680,985Source | -110,243,753Source | -91,411,059Source |
| Stockholders' Equity Attributable to ParentUSD | 10,787,579Source | -485,739Source | -225,980Source | -2,538,719Source |
| Liabilities and EquityUSD | 14,884,558Source | 2,771,030Source | 5,429,478Source | 5,830,012Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 4,096,979Source | 3,210,196Source | 5,524,595Source | 8,164,819Source |
| Operating Lease, Liability, CurrentUSD | 46,573Source | 84,291Source | 73,048Source | 51,328Source |
| Accounts Payable, CurrentUSD | 2,942,331Source | 2,183,416Source | 2,201,999Source | 4,752,340Source |
| Operating Lease, Liability, NoncurrentUSD | — | 46,573Source | 130,863Source | 203,912Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | — | — | — | 3,193,972Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 199,595Source | 231,190Source | 248,626Source | 876,368Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts PayableUSD | 630,384Source | 48,423Source | -2,631,215Source | 971,041Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | -12,827,199Source | -8,607,723Source | -21,341,842Source | -27,687,278Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -12,000Source | -12,000Source | -443,250Source | -896,477Source |
| Cash flows from financing activities: | ||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 26,047,009Source | 6,494,920Source | 21,006,472Source | 4,014,567Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 13,207,810Source | -2,124,803Source | -778,620Source | -24,569,188Source |
| Additional Financial Items | ||||
| DepreciationUSD | 9,617Source | 12,843Source | 12,845Source | 12,845Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -112,985Source | 84,293Source | -40,077Source | -52,482Source |
| General and Administrative ExpenseUSD | 8,488,811Source | 6,130,845Source | 7,125,732Source | 8,575,283Source |
| Income Tax Expense (Benefit)USD | 218,400Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | -16,011,487Source | -7,437,232Source | -18,832,694Source | -29,721,841Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -16,112,737Source | — | — | — |
| Operating ExpensesUSD | 16,844,115Source | 11,868,097Source | 18,940,422Source | 30,019,302Source |
| Payments of Financing CostsUSD | 465,200Source | 370,426Source | — | — |
| Proceeds from Issuance of Common StockUSD | 7,803,453Source | 3,896,577Source | 21,006,371Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 1,000,000Source | 18,626Source | 147,805Source | 349,943Source |
| Operating Income (Loss)USD | -15,844,115Source | -11,849,471Source | -18,792,617Source | -29,669,359Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -15,793,087Source | — | — | — |
| Income Tax Expense (Benefit)USD | 218,400Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | -16,011,487Source | -7,437,232Source | -18,832,694Source | -29,721,841Source |
| Earnings Per Share, BasicUSD per share | -3.95Source | -11.35Source | -18.14Source | -6.84Source |
| Earnings Per Share, DilutedUSD per share | -3.95Source | -11.35Source | -18.14Source | — |
| Weighted Average Number of Shares Outstanding, Basicshares | 4,081,296Source | 655,240Source | 1,038,188Source | 4,348,166Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 4,081,296Source | 655,240Source | 1,038,188Source | — |
| Additional Financial Items | ||||
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -112,985Source | 84,293Source | -40,077Source | -52,482Source |
| General and Administrative ExpenseUSD | 8,488,811Source | 6,130,845Source | 7,125,732Source | 8,575,283Source |
| Labor and Related ExpenseUSD | 1,716,552Source | — | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -16,112,737Source | — | — | — |
| Operating ExpensesUSD | 16,844,115Source | 11,868,097Source | 18,940,422Source | 30,019,302Source |
| Other General and Administrative ExpenseUSD | 1,761,771Source | — | — | — |
| Other IncomeUSD | 720,102Source | 4,327,946Source | — | — |
| Preferred Stock Dividends, Income Statement ImpactUSD | 101,250Source | — | — | — |
| Research and Development ExpenseUSD | 8,355,304Source | 5,737,252Source | 11,814,690Source | 21,444,019Source |
Offerings
Registration 333-284408
Registration 333-284409
Filing attachments
ex99-1.htm · 8-K · 2025-12-03
EX-99.1 5 ex99-1.htm EX-99.1 Exhibit 99.1 Hyperliquid Strategies Inc and Sonnet BioTherapeutics Holdings, Inc. Announce Closing of Business Combination Hyperliquid Strategies Common Stock Expected to Begin Trading on Nasdaq on Wednesday, December 3 Under the Ticker “PURR” NEW YORK, NY and PRINCETON, NJ, December 2, 2025 - Hyperliquid Strategies Inc (“HSI” or the “Company”) and Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) (“Sonnet”) today announced the completion of the closing of …
Read attachment ↗ex99-1.htm · 8-K · 2025-12-02
EX-99.1 2 ex99-1.htm EX-99.1 Exhibit 99.1 Sonnet BioTherapeutics Holdings, Inc. Announces Stockholder Approval of Proposed Business Combination with Hyperliquid Strategies Inc PRINCETON, NJ, December 2, 2025 - Sonnet BioTherapeutics Holdings, Inc., (NASDAQ: SONN) (“Sonnet” or the “Company”) today announced that its stockholders approved, among other things, the proposed business combination with Hyperliquid Strategies Inc (“HSI”) and Rorschach I LLC at its special meeting of stockholders. …
Read attachment ↗ex99-1.htm · 8-K · 2025-11-18
EX-99.1 2 ex99-1.htm EX-99.1 Exhibit 99.1 Sonnet BioTherapeutics Holdings, Inc. Announces Adjournment of Special Meeting PRINCETON, NJ, November 18, 2025 - Sonnet BioTherapeutics Holdings, Inc., (NASDAQ: SONN) (“Sonnet” or the “Company”) today announced that it has adjourned its special meeting of stockholders (the “Special Meeting”) in order to provide stockholders additional time within which to vote on its proposed business combination (the “Business Combination”) with Hyperliquid Strat…
Read attachment ↗ex4-1.htm · 8-K · 2025-07-14
EX-4.1 4 ex4-1.htm EX-4.1 EXHIBIT 4.1 NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE …
Read attachment ↗ex99-1.htm · 8-K · 2025-07-14
EX-99.1 8 ex99-1.htm EX-99.1 Exhibit 99.1 Sonnet BioTherapeutics, Inc. Announces $888 Million Business Combination to Launch a HYPE Cryptocurrency Treasury Reserve Strategy Combined company expected to become largest U.S.-based publicly listed company to hold HYPE in its treasury PRINCETON, NJ, July 14, 2025 - Sonnet BioTherapeutics, Inc., (NASDAQ: SONN) (“Sonnet” or the “Company”) today announced that it has entered into a definitive agreement (the “Business Combination Agreement”, or t…
Read attachment ↗ex4-1.htm · 8-K · 2025-07-02
EX-4.1 2 ex4-1.htm EX-4.1 Exhibit 4.1 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SAID ACT, OR AN OPINION OF COUNSEL IN FORM, SUBSTANCE AND SCOPE CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR UNLESS SOLD PUR…
Read attachment ↗