Hyperliquid Strategies files audited Sonnet FY2025 financials after combo

Hyperliquid Strategies Inc

Sonnet's audited financials for FY ended Sep 30, 2025 filed; pro forma data included.
Market value of Sonnet common equity held by non-affiliates: $4.15M as of Mar 31, 2025 ($1.34/share).
Sonnet is a clinical-stage oncology biotech with FHAB platform; lead SON-1010 in solid tumors.
Business combination closed Dec 2, 2025; Hyperliquid now wholly owns Sonnet.
Sonnet has history of operating losses and requires significant additional capital.

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