2023 Q2 Form 10-Q Financial Statement

#000149315223016046 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $36.85K $36.45K $95.32K
YoY Change -40.63% -61.77%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.543M $1.885M $1.900M
YoY Change -32.35% -0.83% -13.62%
% of Gross Profit
Research & Development $2.409M $3.817M $6.405M
YoY Change -57.35% -40.41% 66.8%
% of Gross Profit
Depreciation & Amortization $3.210K $3.210K $3.210K
YoY Change 0.0% 0.0% -67.9%
% of Gross Profit
Operating Expenses $3.952M $5.701M $8.306M
YoY Change -50.16% -31.36% 37.51%
Operating Profit -$3.915M -$5.665M -$8.210M
YoY Change -50.23% -31.0%
Interest Expense -$31.43K -$2.300K $1.720K
YoY Change 221.04% -233.72%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.947M -$5.667M -$8.209M
YoY Change -49.9% -30.96% 35.9%
Income Tax
% Of Pretax Income
Net Earnings -$3.947M -$5.667M -$8.208M
YoY Change -49.9% -30.96% 35.92%
Net Earnings / Revenue -10710.29% -15549.65% -8611.52%
Basic Earnings Per Share -$0.13 -$0.34 -$1.91
Diluted Earnings Per Share -$0.13 -$0.34 -$136.1K
COMMON SHARES
Basic Shares Outstanding 27.48M shares 20.23M shares 4.307M shares
Diluted Shares Outstanding 29.38M shares 750.6K shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.021M $11.39M $13.64M
YoY Change 34.38% -16.47% 102.31%
Cash & Equivalents $7.021M $11.39M $13.64M
Short-Term Investments
Other Short-Term Assets $1.863M $1.209M $1.280M
YoY Change -4.2% -5.58% 93.96%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.633M $13.05M $14.92M
YoY Change 34.37% -12.54% 101.56%
LONG-TERM ASSETS
Property, Plant & Equipment $36.58K $39.79K $130.6K
YoY Change -25.99% -69.54% -43.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $155.4K $0.00
YoY Change
Total Long-Term Assets $401.9K $265.5K $130.6K
YoY Change 25.3% 103.23% -43.2%
TOTAL ASSETS
Total Short-Term Assets $9.633M $13.05M $14.92M
Total Long-Term Assets $401.9K $265.5K $130.6K
Total Assets $10.03M $13.31M $15.05M
YoY Change 33.98% -11.53% 97.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.024M $4.500M $4.036M
YoY Change 0.16% 11.49% 111.33%
Accrued Expenses $3.315M $3.112M $2.185M
YoY Change 3.47% 42.47% -26.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $750.00 $750.00
YoY Change -100.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.466M $7.774M $6.513M
YoY Change -0.59% 19.36% 20.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $150.2K $168.9K $0.00
YoY Change -31.93% -100.0%
Total Long-Term Liabilities $150.2K $168.9K $0.00
YoY Change -31.93% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.466M $7.774M $6.513M
Total Long-Term Liabilities $150.2K $168.9K $0.00
Total Liabilities $6.616M $7.943M $6.513M
YoY Change -1.62% 21.95% 16.3%
SHAREHOLDERS EQUITY
Retained Earnings -$106.6M -$102.6M
YoY Change 26.9%
Common Stock $3.839K $2.050K
YoY Change -36.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.418M $5.369M $8.533M
YoY Change
Total Liabilities & Shareholders Equity $10.03M $13.31M $15.05M
YoY Change 33.98% -11.53% 97.2%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$3.947M -$5.667M -$8.208M
YoY Change -49.9% -30.96% 35.92%
Depreciation, Depletion And Amortization $3.210K $3.210K $3.210K
YoY Change 0.0% 0.0% -67.9%
Cash From Operating Activities -$6.172M -$4.696M -$5.609M
YoY Change -21.12% -16.28% -3.13%
INVESTING ACTIVITIES
Capital Expenditures $12.00K $261.2K -$165.6K
YoY Change -102.05% -257.73%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$12.00K -$261.2K -$165.6K
YoY Change -97.95% 57.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.815M 14.65M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -6.172M -4.696M -5.609M
Cash From Investing Activities -12.00K -261.2K -165.6K
Cash From Financing Activities 1.815M 14.65M 0.000
Net Change In Cash -4.369M 9.690M -5.774M
YoY Change -48.05% -267.81% -231.53%
FREE CASH FLOW
Cash From Operating Activities -$6.172M -$4.696M -$5.609M
Capital Expenditures $12.00K $261.2K -$165.6K
Free Cash Flow -$6.184M -$4.957M -$5.443M
YoY Change -14.57% -8.93% -5.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001106838
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q4 SONN Stock Issued During Period Value Net Share Settlement Of Warrants
StockIssuedDuringPeriodValueNetShareSettlementOfWarrants
usd
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2023Q1 us-gaap Notes Payable Current Related And Nonrelated Party Status Extensible Enumeration
NotesPayableCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2022Q3 us-gaap Notes Payable Current Related And Nonrelated Party Status Extensible Enumeration
NotesPayableCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2023Q1 SONN Stock Issued During Period Value Net Share Settlement Of Warrants
StockIssuedDuringPeriodValueNetShareSettlementOfWarrants
usd
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
usd
SONN Increase Decrease In Incentive Tax Receivable
IncreaseDecreaseInIncentiveTaxReceivable
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
SONN Net Settlement Of Warrants
NetSettlementOfWarrants
usd
SONN Inprocess Research And Development In Accounts Payable
InprocessResearchAndDevelopmentInAccountsPayable
usd
SONN Deferred Offering Costs Charged Against Proceeds From Sale Of Common Stock
DeferredOfferingCostsChargedAgainstProceedsFromSaleOfCommonStock
usd
SONN Issuance Of Common Stock On Vesting Of Restricted Stock Units
IssuanceOfCommonStockOnVestingOfRestrictedStockUnits
usd
SONN Common Stock Issuance Costs In Accounts Payable
CommonStockIssuanceCostsInAccountsPayable
usd
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-35570
dei Entity Registrant Name
EntityRegistrantName
SONNET BIOTHERAPEUTICS HOLDINGS, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
20-2932652
dei Entity Address Address Line1
EntityAddressAddressLine1
100 Overlook Center
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 102
dei Entity Address City Or Town
EntityAddressCityOrTown
Princeton
dei Entity Address State Or Province
EntityAddressStateOrProvince
NJ
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
08540
dei City Area Code
CityAreaCode
(609)
dei Local Phone Number
LocalPhoneNumber
375-2227
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
SONN
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
27478686 shares
CY2023Q1 us-gaap Cash
Cash
11390177 usd
CY2022Q3 us-gaap Cash
Cash
3052879 usd
CY2023Q1 SONN Incentive Tax Receivable Current
IncentiveTaxReceivableCurrent
447010 usd
CY2022Q3 SONN Incentive Tax Receivable Current
IncentiveTaxReceivableCurrent
717305 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1208641 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1643743 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
13045828 usd
CY2022Q3 us-gaap Assets Current
AssetsCurrent
5413927 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39789 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
46211 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
225709 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
256594 usd
CY2022Q3 us-gaap Deferred Costs
DeferredCosts
113280 usd
CY2022Q3 us-gaap Notes Payable Current
NotesPayableCurrent
748 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
4500043 usd
CY2023Q1 us-gaap Assets
Assets
13311326 usd
CY2022Q3 us-gaap Assets
Assets
5830012 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
748 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
4752340 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3112282 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3193972 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
67920 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
51328 usd
CY2023Q1 us-gaap Deferred Income Current
DeferredIncomeCurrent
92731 usd
CY2022Q3 us-gaap Deferred Income Current
DeferredIncomeCurrent
166431 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
7773724 usd
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
8164819 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
168939 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
203912 usd
CY2023Q1 us-gaap Liabilities
Liabilities
7942663 usd
CY2022Q3 us-gaap Liabilities
Liabilities
8368731 usd
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
20498370 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
20498370 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5544528 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5544528 shares
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
2050 usd
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
554 usd
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
107986885 usd
CY2022Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
88871786 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-102620272 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-91411059 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
5368663 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-2538719 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
13311326 usd
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5830012 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36445 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
95320 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73700 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
225119 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3816644 usd
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6405273 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7562584 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10671138 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1884569 usd
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1900263 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3788278 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3979149 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
5701213 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
8305536 usd
us-gaap Operating Expenses
OperatingExpenses
11350862 usd
us-gaap Operating Expenses
OperatingExpenses
14650287 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5664768 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8210216 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-11277162 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-14425168 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2303 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1717 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
67949 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
15688 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-5667071 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-8208499 usd
us-gaap Net Income Loss
NetIncomeLoss
-11209213 usd
us-gaap Net Income Loss
NetIncomeLoss
-14409480 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.91
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.35
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16514377 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4306775 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11664815 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4306709 shares
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-2538719 usd
CY2022Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4452012 usd
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
91617 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-5542142 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-3537232 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14515968 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
56998 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-5667071 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
5368663 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
22259847 usd
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
332075 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-6200981 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
16390941 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
350891 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-8208499 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
8533333 usd
us-gaap Net Income Loss
NetIncomeLoss
-11209213 usd
us-gaap Net Income Loss
NetIncomeLoss
-14409480 usd
us-gaap Depreciation
Depreciation
6422 usd
us-gaap Depreciation
Depreciation
6422 usd
SONN Acquired Inprocess Research And Development
AcquiredInprocessResearchAndDevelopment
112000 usd
SONN Acquired Inprocess Research And Development
AcquiredInprocessResearchAndDevelopment
285627 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
30885 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
45213 usd
us-gaap Share Based Compensation
ShareBasedCompensation
148615 usd
us-gaap Share Based Compensation
ShareBasedCompensation
682966 usd
SONN Increase Decrease In Incentive Tax Receivable
IncreaseDecreaseInIncentiveTaxReceivable
-270295 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-435102 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
90659 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-386979 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
255121 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
74250 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-205474 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-18381 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-45529 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-73700 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-225119 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10610704 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13700912 usd
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
261250 usd
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
285627 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-261250 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-285627 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19209252 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19209252 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8337298 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13986539 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3052879 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
27622067 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11390177 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13635528 usd
SONN Net Settlement Of Warrants
NetSettlementOfWarrants
23 usd
SONN Inprocess Research And Development In Accounts Payable
InprocessResearchAndDevelopmentInAccountsPayable
12000 usd
SONN Deferred Offering Costs Charged Against Proceeds From Sale Of Common Stock
DeferredOfferingCostsChargedAgainstProceedsFromSaleOfCommonStock
32340 usd
SONN Issuance Of Common Stock On Vesting Of Restricted Stock Units
IssuanceOfCommonStockOnVestingOfRestrictedStockUnits
5 usd
SONN Common Stock Issuance Costs In Accounts Payable
CommonStockIssuanceCostsInAccountsPayable
208932 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_803_eus-gaap--NatureOfOperations_z94GRF8iiDA9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_821_zXp406V6nvI">Organization and Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Description of business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet BioTherapeutics, Inc. (“Prior Sonnet”) was incorporated as a New Jersey corporation on April 6, 2015. Prior Sonnet completed a merger with publicly-held Chanticleer Holdings, Inc. (“Chanticleer”) on April 1, 2020. After the merger, Chanticleer changed its name to Sonnet BioTherapeutics Holdings, Inc. (“Sonnet” or the “Company”). Sonnet is a clinical stage, oncology-focused biotechnology company with a proprietary platform for innovating biologic medicines of single- or bi-specific action. Known as F<sub>H</sub>AB™ (Fully Human Albumin Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and “hitch-hikes” on human serum albumin (“HSA”) for transport to target tissues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sonnet’s lead proprietary asset, SON-1010, is a fully human version of Interleukin 12 (“IL-12”), covalently linked to the F<sub>H</sub>AB construct, for which Sonnet intends to pursue clinical development in solid tumor indications, including ovarian cancer, non-small cell lung cancer and head and neck cancer. In March 2022, the FDA cleared Sonnet’s Investigational New Drug (“IND”) application for SON-1010. This allowed the Company to initiate a U.S. clinical trial (SB101) in oncology patients with solid tumors during the second calendar quarter of 2022. In September 2021, the Company created a wholly-owned Australian subsidiary, SonnetBio Pty Ltd (“Subsidiary”), for the purpose of conducting certain clinical trials. Sonnet received approval and initiated an Australian clinical study (SB102) of SON-1010 in healthy volunteers during the third calendar quarter of 2022. Interim safety and tolerability data from the SB101 and SB102 studies were reported in April 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2023, Sonnet announced a collaboration agreement with Roche for the clinical evaluation of SON-1010 with atezolizumab (Tecentriq®). The companies have entered into a Master Clinical Trial and Supply Agreement (“MCSA”), along with ancillary Quality and Safety Agreements, to study the safety and efficacy of the combination of SON-1010 and atezolizumab in a platinum-resistant ovarian cancer (“PROC”) patient setting. Further, the companies will provide SON-1010 and atezolizumab, respectively, for use in the Phase 1b/Phase 2a combination safety, dose-escalation, and efficacy study (SB221). The SB221 study has been formally submitted for final approval in Australia and preparations are on track to initiate the study during the second calendar quarter of 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company acquired the global development rights to its most advanced compound, SON-080, a fully human version of Interleukin 6 (“IL-6”), in April 2020 through its acquisition of the outstanding shares of Relief Therapeutics SA. Sonnet is advancing SON-080 in target indications of Chemotherapy-Induced Peripheral Neuropathy (“CIPN”) and Diabetic Peripheral Neuropathy (“DPN”). Sonnet received approval to initiate an ex-U.S. Phase 1b/2a study with SON-080 in CIPN. This study is on track to yield initial clinical safety data during the first half of calendar 2023. Pursuant to a license agreement the Company entered with New Life Therapeutics Pte, Ltd. (“New Life”) of Singapore in May 2021, Sonnet and New Life are jointly responsible for developing SON-080 in DPN. The objective will be to evaluate the data and potentially initiate a Phase 2 study in the second half of calendar 2023, once the CIPN safety data has been evaluated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SON-1210 (IL12-F<sub>H</sub>AB-IL15), Sonnet’s lead bi-specific construct, combines F<sub>H</sub>AB with fully human IL-12 and fully human Interleukin 15 (“IL-15”). This compound is being developed for solid tumor indications, including colorectal cancer. In February 2023, the Company announced the successful completion of two IND-enabling toxicology studies with SON-1210 in non-human primates. Sonnet remains on track to initiate the regulatory authorization process for SON-1210 in the first half of calendar 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SON-1410 (IL18-F<sub>H</sub>AB-IL12) is a bi-specific combination of Interleukins 18 (“IL-18”) and 12 (IL-12) for solid tumor cancers. Cell line development and process development are ongoing, with early experimental drug supply suitable for formulation and analytical method development activities, in addition to small quantities for use in early development proof-of-concept <i>in vitro</i> studies. Process development activities will continue through 2023, with the potential to generate a drug suitable for initial <i>in vivo</i> mice studies by the end of the 2023 calendar year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has completed sequence confirmation for SON-3015 (anti-IL6-F<sub>H</sub>AB-anti-TGFβ). Early stage bi-specific drug has been generated and is being stored for future use in <i>in vivo</i> mice studies. Sonnet has elected to place the SON-3015 development program on hold for expense reduction purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sonnet BioTherapeutics Holdings, Inc.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Unaudited Interim Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of the ongoing cost-cutting evaluations, all antiviral development with SON-1010 has been suspended.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has incurred recurring losses and negative cash flows from operations since inception and expects to generate losses from operations for the foreseeable future, primarily due to research and development costs for its potential product candidates. The Company believes its cash of $<span id="xdx_904_eus-gaap--Cash_iI_pn5n6_c20230331_ztYHAa7Pvt74" title="Cash">11.4</span> million at March 31, 2023 will fund the Company’s projected operations into January <span style="background-color: white">2024</span>. Substantial additional financing will be needed by the Company to fund its operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited interim consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The unaudited interim consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company plans to secure additional capital in the future through equity or debt financings, partnerships, collaborations, or other sources to carry out the Company’s planned development activities. If additional capital is not available when required, the Company may need to delay or curtail its operations until such funding is received. Various internal and external factors will affect whether and when the Company’s product candidates become approved for marketing and successful commercialization. The regulatory approval and market acceptance of the Company’s product candidates, length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the approval process will materially affect the Company’s financial condition and future operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operations since inception have consisted primarily of organizing the Company, securing financing, developing its technologies through performing research and development and conducting preclinical studies. The Company faces risks associated with companies whose products are in development. These risks include the need for additional financing to complete its research and development, achieving its research and development objectives, defending its intellectual property rights, recruiting and retaining skilled personnel, and dependence on key members of management.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Cash
Cash
11400000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zCCrQwZRAHye" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c. <span id="xdx_86A_zGo7ytGqcqKk">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: 4.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the interim unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these unaudited interim consolidated financial statements include the accrual of research and development expenses. Estimates and assumptions are periodically reviewed in-light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from management’s estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_841_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zAblxjciBXRa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>d. <span id="xdx_867_zw4Nxy3q8Rsc">Reclassifications</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: 4.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts from the prior period have been reclassified to conform with the current period presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Refund Received Related To Revenue From Different Year Year Revenue Recognized
RefundReceivedRelatedToRevenueFromDifferentYearYearRevenueRecognized
The cash refund is available to eligible companies with annual aggregate revenues of less than $20.0 million (Australian) during the reimbursable period.
CY2023Q1 SONN Cash Refund Expected To Be Received
CashRefundExpectedToBeReceived
100000 usd
CY2022Q1 SONN Cash Refund Expected To Be Received
CashRefundExpectedToBeReceived
100000 usd
SONN Cash Refund Expected To Be Received
CashRefundExpectedToBeReceived
300000 usd
SONN Cash Refund Expected To Be Received
CashRefundExpectedToBeReceived
100000 usd
CY2023Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
1100000 usd
CY2022Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-14 reverse stock split
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32424490 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3766751 shares
CY2023Q1 SONN Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
1801489 usd
CY2022Q3 SONN Accrued Compensation And Benefits Current
AccruedCompensationAndBenefitsCurrent
1218530 usd
CY2023Q1 SONN Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
692477 usd
CY2022Q3 SONN Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
1593922 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
325927 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
378890 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
292389 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2630 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3112282 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3193972 usd
us-gaap Collaborative Arrangement Rights And Obligations
CollaborativeArrangementRightsAndObligations
New Life is also obligated to pay a non-refundable deferred license fee of an additional $1.0 million at the time of the satisfaction of certain milestones, as well as potential additional milestone payments to the Company of up to $19.0 million subject to the achievement of certain development and commercialization milestones. In addition, during the Royalty Term (as defined below), New Life is obligated to pay the Company tiered double-digit royalties ranging from 12% to 30% based on annual net sales of Products in the Exclusive Territory. The “Royalty Term” means, on a Product-by-Product and a country-by-country basis in the Exclusive Territory, the period commencing on the date of the first commercial sale (subject to certain conditions) of such Product in such country in the Exclusive Territory and continuing until New Life ceases commercialization of such Product in the DIPN Field.
SONN Performanceobligation
Performanceobligation
1000000.0 usd
CY2023Q1 us-gaap Revenue From Collaborative Arrangement Excluding Revenue From Contract With Customer
RevenueFromCollaborativeArrangementExcludingRevenueFromContractWithCustomer
36445 usd
us-gaap Revenue From Collaborative Arrangement Excluding Revenue From Contract With Customer
RevenueFromCollaborativeArrangementExcludingRevenueFromContractWithCustomer
100000 usd
CY2022Q1 us-gaap Revenue From Collaborative Arrangement Excluding Revenue From Contract With Customer
RevenueFromCollaborativeArrangementExcludingRevenueFromContractWithCustomer
100000 usd
us-gaap Revenue From Collaborative Arrangement Excluding Revenue From Contract With Customer
RevenueFromCollaborativeArrangementExcludingRevenueFromContractWithCustomer
200000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
2059 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
7549 shares
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
56998 usd
us-gaap Share Based Compensation
ShareBasedCompensation
148615 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
350891 usd
us-gaap Share Based Compensation
ShareBasedCompensation
682966 usd
CY2022Q3 SONN Exercise Tax Rate On Corporate Stock Repurchases
ExerciseTaxRateOnCorporateStockRepurchases
0.01 pure

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0001493152-23-016046-index-headers.html Edgar Link pending
0001493152-23-016046-index.html Edgar Link pending
0001493152-23-016046.txt Edgar Link pending
0001493152-23-016046-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sonn-20230331.xsd Edgar Link pending
sonn-20230331_cal.xml Edgar Link unprocessable
sonn-20230331_def.xml Edgar Link unprocessable
sonn-20230331_lab.xml Edgar Link unprocessable
sonn-20230331_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed