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Stock Alert: Sonnet BioTherapeutics Surges 41%

Shares of Sonnet BioTherapeutics Holdings Inc. (SONN) are gaining almost 41 percent or $1.08 in Monday's morning trade at $3.71.

U.S. stocks are rising on Monday after the U.S. Food and Drug Administration or FDA announced Sunday it has issued an emergency use authorization for investigational convalescent plasma for the treatment of COVID-19 in hospitalized patients.

New Jersey-based Sonnet BioTherapeutics is engaged in development of bi and tri functional therapies that can simulate or block immune-modulating targets to control cancer. The company has developed a unique platform that leverages several favorable biological properties of human serum Albumin.

Sonnet BioTherapeutics has traded in a range of $2.40 to $54.60 in the past 52 weeks.

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