Sonnet BioTherapeutics (SONN) soars 47% on news of Coronavirus treatment, according to Altru Institute.
The institute has launched a virus project which it identifies potential cures and treatments for COVID-19
This pandemic is the greatest challenge we have faced and is existential. Only through unprecedented cooperation and collaboration by our best minds can we address this challenge. Our goal is to create a platform for this collaboration free of interference by politics and special interests, A fundamental approach is to identifying specific teams of scientists at universities and at private companies that are developing new approaches. Our focus is on the little known entities, start-ups with what may be breakthroughsBrett Johnson, CEO of Altru Institute
According to Altru, Sonnet’s Fully Human Albumin Binding (FHAB) platform technology leverages a single chain antibody fragment (scFV) coupled with two flexible linker peptides that are capable of attaching to nearly any type of biologic or small molecule therapeutic. Engineered into the scFV is an albumin binding domain that allows the FHAB to directly interact with endogenous albumin, thereby exploiting its biodistribution properties to lymphoid tissues and tumor micro-environments. The technology has applications in oncology and for Covid – 19.
Sonnet BioTherapeutic Current Statistics
Sonnet Biotherapeutics has a Market Cap of 46.88M with revenue of 30.10M. The SMA20 decreased -56.46% and has a Diluted EPS of -63.91. While SMA50 decrease -50%.
EPS growth this year is -23% and is expected to grow to 22.30% in the next five years. Quarterly earnings are just shy of -296.20%.
Insiders and institution owns 0.20% of the company and has a beta of 2.01.
Sonnet BioTherapeutic Performance
Performance this week is at a decrease of -7.32% with a monthly performance of -48.98%. Performance for the quarter is at -69.75% with a change of -2.95% from previous. The Price stands at $4.94 at the time of close and increased 47% to $7.26 with volatility of 32.12% to 32.87%. The average true range (ATR) is 4.94.