By Josh Beckerman

Shares of Sonnet BioTherapeutics Holdings Inc. surged 66% to $1.93 in Monday's regular session after the company announced a collaboration agreement with Janssen Biotech Inc. The stock rose 10% to $2.13 after hours.

Janssen is part of Johnson & Johnson.

SON-1010, SON-1210 and SON-1410 will be evaluated in combination with certain Janssen proprietary cell therapy assets.

"This is Sonnet's first head-to-head evaluation of three FHAB-based drug candidates, the results of which will be instructive for expanded oncology indications," the company said.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 31, 2022 18:58 ET (22:58 GMT)

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