No insider purchase over the last 90 days. The latest, by Rao Raghu, was filed 27 Oct 2023.
Sonnet BioTherapeutics Holdings, Inc. belongs to the Healthcare & Pharma sector. Filings by its managers are published through SEC (Form 4). The last twelve months, up to 22 October 2026, brought 14 filings signed by 9 insiders.
None of the filings is a plain purchase or sale on the open market; they cover grants, option exercises and other movements. Such operations are usually part of compensation schedules, which makes them a weaker signal than an open-market trade.
For context, the typical company on the same exchange (median of 3,171 companies) published 24 filings over the same period, against 14 filings here. The full history, which starts in 2016, counts 79 purchases against 18 sales. For the fiscal year to 30 September 2025, the annual 10-K puts revenue at 1.0 m USD and net income at -16.0 m USD.
Over the last twelve months, not one insider purchase of Sonnet BioTherapeutics Holdings, Inc. stock was filed. Typically, a trade is published a median of 1 day after it takes place. The legal deadline for a Form 4 is two business days after the transaction.
Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
FY ended September 2025 · cache
25 of 210 declarations
Sonnet BioTherapeutics Holdings, Inc. is a United States-based biotechnology company listed on the NASDAQ under the ticker SONN. The company’s operating headquarters are in Princeton, New Jersey, and its corporate footprint is centered in the United States. Sonnet is best described as a clinical-stage oncology-biotech platform company rather than a commercial drug manufacturer. Its core technology is the proprietary FHAB (Fully Human Albumin Binding) platform, which is designed to improve the pharmacokinetics, tissue targeting, and therapeutic profile of biologic drugs, including mono- and bifunctional constructs. ([sonnetbio.com](https://www.sonnetbio.com/investors/news-events/press-releases/detail/132/sonnet-biotherapeutics-holdings-inc-announces-stockholder?utm_source=openai))
Founded in 2011, Sonnet has developed its pipeline around targeted biologics and immunotherapy-oriented programs. The company has highlighted multiple preclinical and clinical-stage assets over time, including SON-1010, SON-1210, SON-1400, SON-1411, and SON-080. This breadth reflects a platform strategy: the company attempts to leverage the same underlying technology to generate multiple drug candidates across oncology and adjacent therapeutic areas. As of the latest public disclosures surfaced here, Sonnet remains a development-stage company with no marketed products, which means the investment case is primarily based on clinical execution, intellectual-property strength, and strategic partnering potential. ([sonnetbio.com](https://www.sonnetbio.com/news-media/press-releases/detail/59/sonnet-biotherapeutics-announces-successful-completion-of?utm_source=openai))
From a competitive standpoint, Sonnet operates in a highly crowded market dominated by large pharmaceutical companies and numerous oncology and immunology biotechs. Its differentiating factor is the FHAB platform, which the company says can support flexible payload design and potentially create synergistic biologic combinations. The company has also emphasized patent protection in the U.S. and Europe, which is important in a sector where exclusivity and pipeline differentiation are critical to valuation. For investors, this makes SONN a high-risk, high-upside biotechnology story rather than a mature healthcare franchise. ([sonnetbio.com](https://www.sonnetbio.com/investors/news-events/press-releases/detail/32/sonnet-biotherapeutics-announces-issuance-of-u-s-patent?utm_source=openai))
Recent company developments include continued messaging around platform expansion, interest in antibody-drug-conjugate partnership opportunities, and a stockholder-approved business combination with Hyperliquid Strategies Inc. That transaction is a material strategic event and may affect how the market values the company going forward. Overall, Sonnet’s recent history suggests a business in transition, where clinical data, licensing opportunities, and corporate actions are all likely to be more important than near-term operating revenues. ([sonnetbio.com](https://www.sonnetbio.com/news-media/press-releases/detail/117/sonnet-biotherapeutics-announces-that-its-proprietary?utm_source=openai))
| Fiscal year end | Revenue | Net income | Diluted EPS | Filing |
|---|---|---|---|---|
| Sep 2025 | 1.0 m USD | -16.0 m USD | -3.95 USD | 10-K |
| Sep 2024 | 18,626 USD | -7.4 m USD | -11.35 USD | 10-K |
| Sep 2023 | 147,805 USD | -18.8 m USD | -145.13 USD | 10-K |
| Sep 2022 | 349,943 USD | -29.7 m USD | -150.52 USD | 10-K |
| Sep 2021 | 483,626 USD | -25.0 m USD | n.d. | 10-K |
Amounts in USD, as filed (forms 10-K, 20-F or 40-F). Source: SEC EDGAR.