$SONN
Sonnet Biotherapeutics Holdings Inc Stock $sonn

$sonn Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000149315224019264 Filed on May 14, 2024

Income Statement

Concept	2024 Q2	2024 Q1	2023 Q1
Revenue			$36.45K
YoY Change			-61.77%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$1.802M	$1.701M	$1.885M
YoY Change	16.78%	-9.73%	-0.83%
% of Gross Profit
Research & Development	$1.727M	$2.167M	$3.817M
YoY Change	-28.32%	-43.21%	-40.41%
% of Gross Profit
Depreciation & Amortization	$3.210K	$3.210K	$3.210K
YoY Change	0.0%	0.0%	0.0%
% of Gross Profit
Operating Expenses	$3.529M	$3.869M	$5.701M
YoY Change	-10.72%	-32.14%	-31.36%
Operating Profit	-$3.529M	-$3.869M	-$5.665M
YoY Change	-9.88%	-31.71%	-31.0%
Interest Expense	$23.11K	-$93.96K	-$2.300K
YoY Change	-173.53%	3985.22%	-233.72%
% of Operating Profit
Other Income/Expense, Net		$4.328M
YoY Change
Pretax Income	-$3.506M	$365.4K	-$5.667M
YoY Change	-11.18%	-106.45%	-30.96%
Income Tax
% Of Pretax Income
Net Earnings	-$3.506M	$365.4K	-$5.667M
YoY Change	-11.18%	-106.45%	-30.96%
Net Earnings / Revenue			-15549.65%
Basic Earnings Per Share	-$0.70	$0.08	-$0.34
Diluted Earnings Per Share	-$0.70	$0.07	-$0.34
COMMON SHARES
Basic Shares Outstanding	3.112M shares	3.070M shares	20.23M shares
Diluted Shares Outstanding	5.038M shares	4.886M shares	750.6K shares

Balance Sheet

Concept	2024 Q2	2024 Q1	2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$3.554M	$3.786M	$11.39M
YoY Change	-49.38%	-66.76%	-16.47%
Cash & Equivalents	$3.554M	$3.786M	$11.39M
Short-Term Investments
Other Short-Term Assets	$1.054M	$1.059M	$1.209M
YoY Change	-43.42%	-12.39%	-5.58%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$5.128M	$5.223M	$13.05M
YoY Change	-46.77%	-59.96%	-12.54%
LONG-TERM ASSETS
Property, Plant & Equipment	$23.73K	$26.94K	$39.79K
YoY Change	-35.11%	-32.28%	-69.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$488.5K	$484.8K	$0.00
YoY Change	214.41%
Total Long-Term Assets	$669.0K	$686.4K	$265.5K
YoY Change	66.47%	158.54%	103.23%
TOTAL ASSETS
Total Short-Term Assets	$5.128M	$5.223M	$13.05M
Total Long-Term Assets	$669.0K	$686.4K	$265.5K
Total Assets	$5.797M	$5.909M	$13.31M
YoY Change	-42.23%	-55.61%	-11.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.879M	$1.752M	$4.500M
YoY Change	-37.87%	-61.06%	11.49%
Accrued Expenses	$1.231M	$1.012M	$3.112M
YoY Change	-62.88%	-67.48%	42.47%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$750.00
YoY Change		-100.0%	0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$3.110M	$2.765M	$7.774M
YoY Change	-51.91%	-64.44%	19.36%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$68.84K	$90.45K	$168.9K
YoY Change	-54.16%	-46.46%
Total Long-Term Liabilities	$68.84K	$90.45K	$168.9K
YoY Change	-54.16%	-46.46%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.110M	$2.765M	$7.774M
Total Long-Term Liabilities	$68.84K	$90.45K	$168.9K
Total Liabilities	$3.179M	$2.855M	$7.943M
YoY Change	-51.96%	-64.05%	21.95%
SHAREHOLDERS EQUITY
Retained Earnings	-$114.6M	-$111.0M	-$102.6M
YoY Change	7.49%	8.21%
Common Stock	$522.00	$311.00	$2.050K
YoY Change	-86.4%	-84.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$2.618M	$3.054M	$5.369M
YoY Change
Total Liabilities & Shareholders Equity	$5.797M	$5.909M	$13.31M
YoY Change	-42.23%	-55.61%	-11.53%

Cashflow Statement

Concept	2024 Q2	2024 Q1	2023 Q1
OPERATING ACTIVITIES
Net Income	-$3.506M	$365.4K	-$5.667M
YoY Change	-11.18%	-106.45%	-30.96%
Depreciation, Depletion And Amortization	$3.210K	$3.210K	$3.210K
YoY Change	0.0%	0.0%	0.0%
Cash From Operating Activities	-$3.070M	$723.8K	-$4.696M
YoY Change	-50.27%	-115.41%	-16.28%
INVESTING ACTIVITIES
Capital Expenditures	$12.00K	$0.00	$261.2K
YoY Change	0.0%	-100.0%	-257.73%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$12.00K	$0.00	-$261.2K
YoY Change	0.0%	-100.0%	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	2.850M	41.00K	14.65M
YoY Change	57.02%	-99.72%
NET CHANGE
Cash From Operating Activities	-3.070M	723.8K	-4.696M
Cash From Investing Activities	-12.00K	0.000	-261.2K
Cash From Financing Activities	2.850M	41.00K	14.65M
Net Change In Cash	-231.8K	764.8K	9.690M
YoY Change	-94.69%	-92.11%	-267.81%
FREE CASH FLOW
Cash From Operating Activities	-$3.070M	$723.8K	-$4.696M
Capital Expenditures	$12.00K	$0.00	$261.2K
Free Cash Flow	-$3.082M	$723.8K	-$4.957M
YoY Change	-50.17%	-114.6%	-8.93%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	us-gaap	Other Income OtherIncome		usd
CY2023Q4	SONN	Stock Issued During Period Value Reverse Stock Splits StockIssuedDuringPeriodValueReverseStockSplits		usd
CY2023Q4	SONN	Stock Issued During Period Value Net Share Settlement Of Warrants StockIssuedDuringPeriodValueNetShareSettlementOfWarrants		usd
CY2024Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures		usd
CY2022Q4	SONN	Stock Issued During Period Value Net Share Settlement Of Warrants StockIssuedDuringPeriodValueNetShareSettlementOfWarrants		usd
CY2023Q1	SONN	Stock Issued During Period Value Net Share Settlement Of Warrants StockIssuedDuringPeriodValueNetShareSettlementOfWarrants		usd
CY2023Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures		usd
CY2023Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures		usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets		usd
	us-gaap	Payments To Acquire In Process Research And Development PaymentsToAcquireInProcessResearchAndDevelopment		usd
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	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts		usd
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises		usd
	SONN	Deferred Offering Costs Charged Against Proceeds From Sale Of Common Stock DeferredOfferingCostsChargedAgainstProceedsFromSaleOfCommonStock		usd
	us-gaap	Stock Issued1 StockIssued1		usd
CY2023Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements		shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements		shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements		shares
CY2023Q1	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants		shares
	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants		shares
	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants		shares
CY2024Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax		usd
CY2024Q1	us-gaap	Cash Cash	3786184	usd
CY2024Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1058836	usd
CY2024Q1	SONN	Incentive Tax Receivable Current IncentiveTaxReceivableCurrent	377962	usd
CY2024Q1	us-gaap	Assets Current AssetsCurrent	5222982	usd
CY2024Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	26944	usd
CY2024Q1	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	159641	usd
CY2024Q1	us-gaap	Deferred Costs DeferredCosts	15000	usd
CY2024Q1	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	484842	usd
CY2024Q1	us-gaap	Assets Assets	5909409	usd
CY2024Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	1752444	usd
CY2024Q1	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	933747	usd
CY2024Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	78493	usd
CY2023Q3	us-gaap	Deferred Income Current DeferredIncomeCurrent	18626	usd
CY2024Q1	us-gaap	Liabilities Current LiabilitiesCurrent	2764684	usd
CY2024Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	90446	usd
CY2024Q1	us-gaap	Liabilities Liabilities	2855130	usd
CY2024Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2023Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2024Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	125000000	shares
CY2023Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	125000000	shares
CY2024Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	3112401	shares
CY2024Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	3112401	shares
CY2023Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	1750426	shares
CY2023Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	1750426	shares
CY2024Q1	us-gaap	Common Stock Value CommonStockValue	311	usd
CY2024Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	114100805	usd
CY2024Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-111046837	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	3054279	usd
CY2024Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	5909409	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	36445	usd
CY2024Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2167288	usd
CY2024Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1701273	usd
CY2024Q1	us-gaap	Operating Expenses OperatingExpenses	3868561	usd
CY2024Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-3868561	usd
CY2024Q1	us-gaap	Other Income OtherIncome	4327946	usd
	us-gaap	Other Income OtherIncome	4327946	usd
CY2024Q1	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-93960	usd
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	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.19
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-21.14
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4617665	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	750582	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4205469	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	530131	shares
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.07
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.19
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-21.14
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4885845	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	750582	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4205469	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	530131	shares
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	-225980	usd
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CY2023Q4	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	50005	usd
CY2023Q4	us-gaap	Net Income Loss NetIncomeLoss	-1168509	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	2572459	usd
CY2024Q1	SONN	Stock Issued During Period Value Exercise Of Warrants StockIssuedDuringPeriodValueExerciseOfWarrants	56000	usd
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CY2022Q4	us-gaap	Net Income Loss NetIncomeLoss	-5542142	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-3537232	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-3537232	usd
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CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	56998	usd
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CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-5667071	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	5368663	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	5368663	usd
	us-gaap	Net Income Loss NetIncomeLoss	-803084	usd
	us-gaap	Net Income Loss NetIncomeLoss	-11209213	usd
	us-gaap	Depreciation Depreciation	6422	usd
	us-gaap	Depreciation Depreciation	6422	usd
	SONN	Acquired Inprocess Research And Development AcquiredInprocessResearchAndDevelopment	12000	usd
	SONN	Acquired Inprocess Research And Development AcquiredInprocessResearchAndDevelopment	112000	usd
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	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	30885	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	110400	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	148615	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-618560	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-435102	usd
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	SONN	Increase Decrease In Incentive Tax Receivable IncreaseDecreaseInIncentiveTaxReceivable	-270295	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	70636	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-368681	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-386979	usd
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	-2261988	usd
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	74250	usd
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-34972	usd
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-18381	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-18626	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-73700	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-2367945	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-10610704	usd
	us-gaap	Payments To Acquire In Process Research And Development PaymentsToAcquireInProcessResearchAndDevelopment	261250	usd
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	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	3838870	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	19209252	usd
	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	15000	usd
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CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	3052879	usd
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CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	11390177	usd
	SONN	In Process Research And Development In Accrued Expenses InProcessResearchAndDevelopmentInAccruedExpenses	12000	usd
	SONN	In Process Research And Development In Accrued Expenses InProcessResearchAndDevelopmentInAccruedExpenses	12000	usd
	SONN	Deferred Offering Costs Charged Against Proceeds From Sale Of Common Stock DeferredOfferingCostsChargedAgainstProceedsFromSaleOfCommonStock	32340	usd
	us-gaap	Stock Issued1 StockIssued1	208932	usd
	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_803_eus-gaap--NatureOfOperations_zIXP3Ktkb8Ri" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_824_zNahfVXtFqjf">Organization and Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><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"><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"><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; 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 bifunctional 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; 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; 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 is pursuing 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; 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; 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 proof-of-concept study (SB221). Part 1 of this 2-part study was approved in June 2023 by the local Human Research Ethics Committee in Australia under CT-2023-CTN-01399-1 and the Therapeutic Goods Administration has been notified. In August 2023, the FDA accepted the IND for SB221. The trial consists of a modified 3+3 dose-escalation design in Part 1 to establish the maximum tolerated dose (“MTD”) of SON-1010 with a fixed dose of atezolizumab. Clinical benefit in PROC will be confirmed in an expansion group to establish the recommended Phase 2 dose (“RP2D”). Part 2 of the study will then investigate SON-1010 in combination with atezolizumab, or the standard of care (“SOC”) for PROC in a randomized comparison to show proof-of-concept (“POC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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; 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; 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 during the third quarter of 2022. The Data Safety Monitoring Board (“DSMB”) overseeing the study met during the first calendar quarter of 2024 and cleared the trial to proceed to Part 2. Following the completion of the DSMB review, Sonnet announced initial safety data from the CIPN study. Pursuant to a license agreement the Company entered into with New Life Therapeutics Pte, Ltd. (“New Life”) of Singapore in May 2021, Sonnet and New Life will be jointly responsible for developing SON-080 in DPN. The objective will be to leverage the CIPN safety data to support the initiation of a Phase 2 clinical trial in DPN pending the outcome of any partnering activity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><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"></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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; 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; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><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; 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 <span style="background-color: white">SON-1210 in non-human primates. Sonnet is prepared to initiate the regulatory authorization process for SON-1210 pending the outcome of any partnering activity.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">SON-1410 (IL18-F</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sub>H</sub><span style="background-color: white">AB-IL12) is a bi-specific combination of Interleukin 18 (“IL-18”) and 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. After some delays in 2023, activities will continue through 2024 with the potential to generate a drug suitable for preclinical studies and subsequent human studies.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><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; 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; 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; 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"><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; 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 it 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_90C_eus-gaap--Cash_iI_pn5n6_c20240331_zM6TYyqHkC8d" title="Cash">3.8</span> million at March 31, 2024 will fund the Company’s projected operations into July 2024. 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. However, substantial doubt about the Company’s ability to continue as a going concern exists. 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 2, 2024, the Company entered into a ChEF Purchase Agreement (the “Purchase Agreement”) and a Registration Rights Agreement (the “Registration Rights Agreement”), each with Chardan Capital Markets LLC (“Chardan”) related to a “ChEF,” Chardan’s committed equity facility (the “Facility”). Pursuant to the Purchase Agreement, the Company has the right from time to time at its option to sell to Chardan up to the lesser of (i) $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20240502__20240502__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zvVT3G51oZOa" title="Issuance of share, value">25.0</span> million in aggregate gross purchase price of newly issued shares of the Company’s common stock and (ii) <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240502__20240502__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWIeYsAZ79gf" title="Issuance of shares">622,168</span> shares of the Company’s common stock, which is equal to <span id="xdx_90A_eus-gaap--SaleOfStockPercentageOfOwnershipBeforeTransaction_pid_dp_c20240502__20240502__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zAFdvpwVQJua" title="Sale of stock, percentage">19.99</span>% of the shares of common stock outstanding immediately prior to the execution of the Purchase Agreement (the “Exchange Cap”), unless (i) the average price of such shares sold to Chardan under the Facility equals or exceeds the base price set forth in the Purchase Agreement, so that the Exchange Cap limitation would not apply to such issuances and sales pursuant to the Purchase Agreement under the rules of the Nasdaq Stock Market or (ii) the Company’s stockholders approve the issuance of common stock pursuant to the Purchase Agreement in excess of the Exchange Cap. The Facility is structured similarly to a traditional at-the-market facility and will allow the Company to raise primary equity on a periodic basis at its sole discretion depending on a variety of factors including, among other things, market conditions, the trading price of the common stock, and determinations by the Company regarding the use of proceeds of such common stock. The Purchase Agreement will be effective for a 36-month period following the effective date of a registration statement registering the resale by Chardan of shares of common stock issued to it by the Company under the Purchase Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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"><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"></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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"><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"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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 and/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 or cease 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; 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; 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 technologies through research and development and conducting preclinical and clinical 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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
CY2024Q1	us-gaap	Cash Cash	3800000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_84E_eus-gaap--UseOfEstimates_zJUwVN5xf8P2" 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.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zAQi47FYXHn7">Use of estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited interim 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; 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"><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"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></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.
CY2024Q1	SONN	Cash Refund Payment Related To Tax Incentive Program CashRefundPaymentRelatedToTaxIncentiveProgram	200000	usd
CY2023Q1	SONN	Cash Refund Payment Related To Tax Incentive Program CashRefundPaymentRelatedToTaxIncentiveProgram	-100000	usd
	SONN	Cash Refund Payment Related To Tax Incentive Program CashRefundPaymentRelatedToTaxIncentiveProgram	400000	usd
	SONN	Cash Refund Payment Related To Tax Incentive Program CashRefundPaymentRelatedToTaxIncentiveProgram	300000	usd
CY2023Q4	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	800000	usd
	us-gaap	Other Income OtherIncome	4300000	usd
CY2023Q3	us-gaap	Stockholders Equity Reverse Stock Split StockholdersEquityReverseStockSplit	1-for-22
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	365425	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-5667071	usd
	us-gaap	Net Income Loss NetIncomeLoss	-803084	usd
	us-gaap	Net Income Loss NetIncomeLoss	-11209213	usd
CY2024Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4617665	shares
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	750582	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	4205469	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	530131	shares
CY2024Q1	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	11154	shares
CY2024Q1	us-gaap	Incremental Common Shares Attributable To Call Options And Warrants IncrementalCommonSharesAttributableToCallOptionsAndWarrants	257026	shares
CY2024Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4885845	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	750582	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	4205469	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	530131	shares
CY2024Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.08
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-7.55
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.19
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-21.14
CY2024Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.07
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-7.55
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.19
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-21.14
CY2024Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	752463	shares
CY2023Q1	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1473775	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	6542222	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1473775	shares
CY2024Q1	SONN	Accrued Compensation And Benefits Current AccruedCompensationAndBenefitsCurrent	127161	usd
CY2023Q3	SONN	Accrued Compensation And Benefits Current AccruedCompensationAndBenefitsCurrent	2091196	usd
CY2024Q1	SONN	Accrued Research And Development Current AccruedResearchAndDevelopmentCurrent	657889	usd
CY2023Q3	SONN	Accrued Research And Development Current AccruedResearchAndDevelopmentCurrent	913145	usd
CY2024Q1	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	145415	usd
CY2023Q3	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	224031	usd
CY2024Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	3282	usd
CY2023Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	2550	usd
CY2024Q1	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	933747	usd
CY2023Q3	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	3230922	usd
	SONN	Increase Decrease In Research And Development Expenses IncreaseDecreaseInResearchAndDevelopmentExpenses	1000000.0	usd
	SONN	Increase Decrease In General And Administrative Expenses IncreaseDecreaseInGeneralAndAdministrativeExpenses	900000	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 Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	36445	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	18626	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	73700	usd
CY2023Q1	us-gaap	Sale Of Stock Consideration Received On Transaction SaleOfStockConsiderationReceivedOnTransaction	15000000.0	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	13600000	usd
CY2024Q1	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	7942463	shares
CY2024Q1	us-gaap	Share Based Compensation ShareBasedCompensation	60395	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	56998	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	110400	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	148615	usd
CY2022Q3	SONN	Excise Tax ExciseTax	0.01	pure

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$SONN
Sonnet Biotherapeutics Holdings Inc Stock $sonn

2024 Q2 Form 10-Q Financial Statement

#000149315224019264 Filed on May 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SONN Sonnet Biotherapeutics Holdings Inc Stock $sonn

2024 Q2 Form 10-Q Financial Statement

#000149315224019264 Filed on May 14, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SONN
Sonnet Biotherapeutics Holdings Inc Stock $sonn