Sonnet BioTherapeutics Provides Fiscal Year 2023 Second Quarter and Year-to-Date Business and Earnings Update

May 10, 2023

Additional data presented from two clinical trials of SON-1010 in both healthy volunteers and patients with advanced solid tumors. Cytokine data reveal extended PK profile for SON-1010:
- Induces prolonged and controlled IFNγ response
- No evidence of cytokine release syndrome
- Clinical benefit was seen in 36% of patients (5/14) with advanced solid tumors
Entered into a collaboration with Roche for the clinical evaluation of SON-1010 with atezolizumab (Tecentriq®) in ovarian cancer with study initiation currently underway
Announced data from two IND-enabling toxicology studies with SON-1210 in non-human primates
- Doses were well tolerated at over 50 times the anticipated human dose
Successfully completed a $15.0 million underwritten public offering

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