By Dean Seal

Shares of Sonnet BioTherapeutics Holdings Inc. were up by over a third to $2.62 in early trading, building on gains from the day before when the company announced a collaboration with Johnson & Johnson's Janssen Biotech Inc.

On Monday, the company said that three of its product candidates will be evaluated in combination with Janssen's proprietary cell therapy assets.

Sonnet's shares jumped 66% to close at $1.93 on Monday. They opened at $1.98 on Tuesday and surged to a high of $3 before edging back to a gain of 35% in morning trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 01, 2022 11:30 ET (15:30 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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