10:41 AM EDT, 10/28/2024 (MT Newswires) -- Sonnet BioTherapeutics ( SONN ) filed a registration statement with the US Securities and Exchange Commission Monday covering the potential sale of several securities from time to time.

The prospectus covers common stock and pre-funded warrants. Each pre-funded warrant will be exercisable for one share of common stock.

The company said it plans to use the net proceeds for research and development, including clinical trials, working capital, general corporate purposes, and to pay off debt.

Shares of Sonnet BioTherapeutics ( SONN ) fell past 28% in recent tradind activity.

Price: 4.30, Change: -1.70, Percent Change: -28.33