Sonnet BioTherapeutics to Receive Non-Dilutive Funding Through New Jersey Tax Certificate Transfer and Australia R&D Tax Incentive Programs
Sonnet BioTherapeutics Holdings, Inc. (SONN)
Company Research
Source: GlobeNewswire
PRINCETON, NJ, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Sonnet BioTherapeutics Holdings, Inc. (the “Company” or “Sonnet”) (NASDAQ: SONN), a clinical-stage company developing targeted immunotherapeutic drugs, today announced it has received preliminary approval for a tax credit from the New Jersey Technology Business Tax Certificate Transfer Program administered by the New Jersey Economic Development Authority (NJEDA). Sonnet received approval of its application to sell up to $8,143,144 of its New Jersey State net operating losses (NOLs) and $62,810 of its New Jersey State research and development (R&D) tax credits for proceeds of up to $0.795 million through the New Jersey Technology Business Tax Certificate Transfer Program, subject to execution of such sale. Sonnet also expects to receive a $0.7 million net cash refund from the R&D Tax Incentive Program in Australia. Pankaj Mohan, Founder and Chief Executive Officer of Sonnet commented, “We are grateful for NJEDA's continued support of
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- Sonnet BioTherapeutics Releases Virtual Investor ‘”What this Means” SegmentGlobeNewswire
- Sonnet BioTherapeutics Announces Pricing of $5.0 Million Underwritten Public Offering Priced At-The-Market Under Nasdaq RulesGlobeNewswire
- Sonnet BioTherapeutics Announces Issuance of U.S. Patent Covering a Variant IL-18 Incorporated into Two Novel Immunotherapeutic Drug CandidatesGlobeNewswire
- Sonnet BioTherapeutics regains compliance with Nasdaq [Seeking Alpha]Seeking Alpha
SONN
Sec Filings
- 11/8/24 - Form 8-K
- 11/7/24 - Form 424B4
- 11/7/24 - Form EFFECT
- SONN's page on the SEC website