Sonnet BioTherapeutics, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Cover
- Cover
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Hype Digital Assets - Schedule of Reconciliation of Hype Digital Assets (Details)

v3.25.4

Hype Digital Assets - Schedule of Reconciliation of Hype Digital Assets (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2025 USD ($) Tokens	Sep. 30, 2025 USD ($) Tokens	Dec. 31, 2025 USD ($) Tokens
Crypto Asset, Activity [Line Items]
Unrealized loss on HYPE digital assets	$ (93,200)		$ (93,200)
Loss on HYPE contribution commitment	(155,776)		(169,156)
Digital assets ending balance	$ 327,610		$ 327,610
Digital assets ending balance \| Tokens	12,857,533		12,857,533
Hype [Member]
Crypto Asset, Activity [Line Items]
Digital assets beginning balance	$ 0	$ 0	$ 0
Contributions of HYPE digital assets from Rorschach Contributions	580,466
Purchases of HYPE digital assets	9,000	0
Unrealized loss on HYPE digital assets	(93,200)
Loss on HYPE contribution commitment	(169,156)
Receipt of HYPE digital assets from staking activities	500
Digital assets ending balance	$ 327,610	$ 0	$ 327,610
Digital assets beginning balance \| Tokens	0	0	0
Contributions of HYPE digital assets from Rorschach Contributions \| Tokens	12,517,592
Purchases of HYPE digital assets \| Tokens	321,224	0
Receipt of HYPE digital assets from staking activities \| Tokens	18,717
Digital assets ending balance \| Tokens	12,857,533	0	12,857,533

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