Sonnet Biotherapeutics

Sonnet BioTherapeutics reported a loss per share of $0.79 for the most recent quarter (prior year: -$4.81). For the full year the company posted a loss per share of $3.95 after -$11.35 in the prior year, and annual revenue rose to $1.00 million (prior year: $0.02 million). Analysts had expected a loss of $3.46 per share for the year and revenue of $1.00 million. » Más en finanzen.net

Sonnet BioTherapeutics has signed an employment contract with interim CEO Raghu Rao, which includes an annual salary of $400,000 and performance-based bonuses. The company also announced a significant merger to form Hyperliquid Strategies Inc., which would transform Sonnet into a crypto treasury with HYPE tokens and cash valued at $888 million. At the same time, Sonnet received a delisting notice from Nasdaq for failing to meet equity requirements. » Más en de.investing.com

Shares of Sonnet BioTherapeutics jumped 290% following the announcement of a $888 million merger. The company will transform into a crypto treasury specializing in HYPE tokens and operate as a subsidiary of Hyperliquid Strategies. Leading crypto investors and new executives are involved in the transaction, which is expected to close in the second half of the year. » Más en de.investing.com