Sonnet BioTherapeutics shares are trading higher after the company announced that it has entered into a licensing agreement with Alkem Laboratories for the research, development, manufacturing, marketing and commercialization of its molecule SON-080 for the treatment of diabetic peripheral neuropathy.
Portfolio Pulse from Benzinga Newsdesk
Sonnet BioTherapeutics' shares rise following a licensing agreement with Alkem Laboratories for the development and commercialization of SON-080, targeting diabetic peripheral neuropathy.
October 09, 2024 | 12:47 pm
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Sonnet BioTherapeutics' stock is trading higher due to a new licensing agreement with Alkem Laboratories. This partnership focuses on the development and commercialization of SON-080 for diabetic peripheral neuropathy, potentially expanding Sonnet's market reach and revenue.
The licensing agreement with Alkem Laboratories is a significant development for Sonnet BioTherapeutics, as it opens up new opportunities for the commercialization of SON-080. This could lead to increased revenue streams and market presence, which is likely why the stock is trading higher.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100