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I believe they have to stay above one dollar for 10 days to keep their listing. If I’m right, then it has to stay above a dollar all this week and next week. I think October 4 may be the deadline.
They have many millions of shares they’re gonna be unloading the rest of this year and into next year. Question is, will there be news out to send up the price before they decide to sell?
Obviously 14 X from It’s current price, then it could continue to drop from that price Monday.
They need to do an offering to continue their testing, plus these guys line their own pockets with cash. That’s gonna take millions.
If they do the offering too soon it could kill the price
A lot of the volume you saw the last couple of days was likely the company selling shares so they can continue operations. Perhaps they have enough to hold off on the offering for a while
The 1 for 14 is not as big as it could have been. I’m wondering if news is around the corner.
I don’t know when the offering will happen or what price. But they have to do it because they need the money to stay in business.
Now let’s hope there’s some good news associated with this reverse stock split. Because we know there’s going to be an offering soon.
Nothing announced yet about yesterday‘s meeting. It could take several days before we hear anything.
Those preferred shares I believe have a conversion price of $.29. So there’s a chance it could pump past that point sometime before the actual RS takes place
Last I heard this was barely shorted so I don’t see a squeeze play.
This same scenario played out about a year ago. they create a lot of volume to bring in buyers because they have an open ATM to sell shares. They need to sell the shares because they are probably almost out of money. The volume and price went up for about two days, then it dumped.
The next day they had an offering.
This looks like the same thing except now there’s also a reverse split.
Let’s hope I’m wrong, but the price is already back down to where it was several days ago.
I’m sure we’ll know soon. Vote for RS today, Which is going to happen, then we’ll see if there’s any news associated with it or some time before the actual reverse split.
Just guessing, but I believe they are creating a market to sell shares. Trying to make it look like something is happening so people start buying in.
Volume of 28 million and the price has barely budged
Perhaps some big news will come along soon, but I wouldn’t count on it.
I think the meeting is Sept 15. I think the R/S has to happen before early Oct 3rd, or around there.
I was hoping there was going to be some news out to give this a nice pop before the split otherwise, it may well just fall back down again after the split. It sure doesn't look good right now.
They issued preferred shares very specifically so they can outvote the retail investor. The Reverse split is going to happen.
I am just hoping there’s something in the pipeline to give the share price a pop before they do. Otherwise, it could drop again fairly quickly
I would think the reverse would have to happen before October 3, unless there’s a way to get another extension.
No clue what the reverse will be. I’m still hoping there’s some kind of pump before it happens, but time is running out.
They got an extension until October 3 for the NASDAQ listing.
They issued preferred shares to use for the next thought, so the reverse split will happen regardless of the retail vote.
I follow the board but there really isn’t that much going on. These guys have zero interest in the retail investor, and mostly seem to just line their own pockets.
I am hoping there’s some news out there to give this one more pump before the reverse split. I would think they need it otherwise, it could drop pretty quick right after reverse split.
They got an extension until October 3. Hopefully between now and then they get a big spike in price to keep them from being delisted.
Those studies will take lots of money. There are (at least) two scenarios that can come in to play.
1) They give away the farm just to keep things running.
2) There’s a big pump coming so those warrants come into play
A lot of uncertainty right now.
The reverse split was somehow rejected. The increased authorized shares was also rejected.
When you look at the tabulated voting it looks like both should have passed easily.
Probably just wishful thinking but I do wonder if the powers to be decided they simply don’t need either of those to pass.
They need to get the share price above a dollar within the next several months so hopefully there’s a plan of attack in place to achieve that goal.
They got an extension to stay on the NASDAQ.
I'm hoping they (SONN, Hedge Funds, etc.) want to pump this over .85 for those warrants which would also give SONN more funds.
I couldn't say what direction it goes from here, but there's a chance it could triple from its current price point if the goal is to get the price above .85.
It's a gamble.
I think it’s possible the powers-to-be (hedge funds?) could pump this up past those $.85 warrants (3X from current price), but past that is anybody’s guess.
Hard to pass up the current price if you believe the worst case scenario is $.85.
“Generating additional clinical product stability data for SON-1010 for the FDA in 1Q22; SON-1010 is on track for clinical study initiation in 2Q22.”
“Completed preparations for cGMP manufacturing of SON-080, initiated manufacturing in January, and on track for clinical study initiation in 2Q22.”
Still a bit early but hopefully we hear something before April.
You are replying to a post that is 2.5 months old and outdated. Something is most definitely going on now though. Hopefully, good news is on the way.
All clues certainly point to something big coming. No guarantees of course, but there's no way I would take a chance of not being in this in case something really big causes the price to spike.
I believe the wait time is six weeks max (end of 1st quarter), though news could come out virtually any day between now and then. Unless the news is really bad, I think the down side risk is minimal.
Warrant holders want to exercise their warrants when the price is well below the current price (Unusual).
Soon afterwards the company puts out three fluff PRs, seemingly to get noticed.
The day before the warrants can be exercised an analyst reiterates his buy recommendation with a target price of $8 -- Analyst will always give a low end target price.
Something big certainly seems to be coming. I had always said that because of the warrant holders exercise price of $3.19, that anything below that is a buy. But because the warrant holders likely had to buy the warrants, their breakeven price would be higher. And you know that whatever that breakeven price might be, the warrant holders expect to sell at a considerable higher price. So I'm sure anything below $4 is probably a buy (assuming we are correct that big news is coming).
Looking good so far.
$5 in pre-market was crazy. I think it's priced about where it should be now. Hoping to see it climb to over $3 before Feb 3rd.
SONN really moving in pre-market. Warrant holders cannot sell yet so there may be more news to come after Feb 3rd (When the warrant holders can sell). Holding tight.
Things starting to get exciting here. That $3.19 strike prices is a minimum I believe. That would make anything under that price a buy for many. Hoping to see some big news after Feb 3rd.
This could run past $3.19 soon.
Someone is exercising their warrants. To exercise those warrants they are giving the company $26,284,354.16. Those warrants cannot be exercised until February 3rd and at $3.19!
The warrant holders had until 2025 to decide if they wanted to exercise those warrants. They would not be giving the company that kind of money NOW unless they knew the price was going above that $3.19 strike price.
This could be a good indicator that good news is coming very soon.
Shot up big today. Something is going on, but it's yet to be revealed.
When the latest PR came out and it seem to indicate that nothing major was coming out for the next several weeks, I think investors decided to use it for a tax loss write off.
They currently have five cytokine-derived therapeutic candidates, with a lead compound, SON-080, ready to enter Phase 2 development.
https://www.sonnetbio.com/pipeline
Red this from their website:
"If these studies are successful, we intend to seek a collaboration with an influenza vaccine manufacturer in 2021 to advance the development of a potentially more robust vaccine candidate."
Almost 200 million flu vaccines are produced a year, so the potential is huge.
They have various therapeutics for various diseases.
I have been loading up down here as funds allow.
The FDA has reissued the August 23, 2020 emergency use authorization (EUA) for the emergency use of COVID-19 convalescent plasma for the treatment of hospitalized patients with COVID-19.
https://www.fda.gov/news-events/press-announcements/coronavirus-covid-19-update-december-1-2020
More news in the coming weeks.
"Results from the second phase of this NHP study, which includes a repeat dose regimen in healthy cynomolgus macaques, are expected in the coming weeks."
This is great news and an important milestone. At this point there may be more interest (and hopefully buyers) in the stock.
There was a bid at $2.5 for over 40,000 so someone is accumulating at this price. I've been buying down here.
If the market crashes sending this lower then I'll continue to dollar cost average in. I don't want to be caught on the outside looking in if this decides to takes off.
Sonnet could become a billion dollar company overnight, but this is for the traders out there.
Swing Trade Setting Up in SONN
My opinion only. I don't know if there are any analyst covering this stock at the moment.
Point being, while others are closing down stores, they are adding. We'll have to wait for the smoke to clear (pandemic/economy) to see where they stand.
While many in this sector are going under, Muscle Maker continues to grow.
https://ih.advfn.com/stock-market/NASDAQ/muscle-maker-GRIL/stock-news/83324724/muscle-maker-grill-opens-their-first-of-four-colle
When the market/economy turns around $GRIL will be in a great position.
This analyst set a target of $8
https://www.markets.co/chardan-capital-thinks-sonnet-biotherapeutics-holdings-stock-is-going-to-recover-2/269855/?ref=tipranks
The warrants were exercised at $3.18 by the institutional investors.
As the markets continue to weigh down on all stocks I continue to accumulate $SONN at these levels.
Good call on this madcasper. While some were calling for a disastrous Monday morning, you looked at this as a positive and indeed the price moved up since then.
It looks like 4 cents is a barrier the stock needs to cross. A good M&A deal or a jump in BTC and/or LINK could do it.
The question is how high can it go from 4 cents. These calls for .30 or $1 seem outlandish to me but we all know anything is possible.