Arbe Robotics Raises $49 Million; Sonnet BioTherapeutics Stock Rises 30% After $5 Million Public Offering and Patent Announcement

Arbe Robotics has successfully closed its public offering, raising up to $49 million. This includes an immediate $15 million upfront, with the potential for an additional $34 million through long-term and milestone-linked warrants. In related market activity, Sonnet BioTherapeutics announced the issuance of a U.S. patent covering a variant IL-18 incorporated into two novel immunotherapeutic drug candidates, leading to a 30% increase in its stock price. Additionally, Sonnet BioTherapeutics priced a $5 million public offering at-the-market under Nasdaq rules, selling 1.11 million shares and warrants for an additional 2.22 million shares at $4.50 per share.