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.
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