04:59 PM EDT, 07/05/2024 (MT Newswires) -- Sonnet BioTherapeutics ( SONN ) said Friday it filed a registration statement for the potential sale of up to 5.77 million shares by selling shareholders from time to time.

The shares offered under the prospectus will be issued upon the exercise of warrants, Sonnet said.

The company said it will not receive any proceeds from the sale of shares.

Proceeds from any cash exercise of warrants will be used for research and development, clinical trials, working capital, debt repayment and general corporate purposes.

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