On June 25, 2026 Sonnet BioTherapeutics reported on March 31, 2026, the company entered into an asset purchase agreement (the "APA") with Guidant Biotherapeutics, Inc. ("Guidant"), a newly-formed company. In connection with the consummation of the transactions contemplated by the APA on that date (the "Sonnet Disposition"), the company transferred $1.325 million in cash, various developmental assets and patents related to Sonnet’s tumor delivery platforms, certain employees and Sonnet’s Australian subsidiary to Guidant, and provided a deferred purchase price of $1.0 million subsequent to the execution of the APA, which is included with "other current liabilities" as of March 31, 2026 on its condensed consolidated balance sheets. In exchange, the company received a 40% common stock interest in Guidant. In connection with the APA, the ompany engaged Guidant under a transaction services agreement (the "TSA") to provide services to the company for fees of $0.175 million, paid at the closing of the APA.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

(Press release, Sonnet BioTherapeutics, JUN 25, 2026, View Source [SID1234670427])