Soleno completes PWS trial enrollment, gets $10M; Q1 net loss $8.4M

SOLENO THERAPEUTICS INC

2023-Q1 EPS reported -$0.88

Enrollment completed in randomized withdrawal period of Study C602 for DCCR in Prader-Willi syndrome; top-line data expected Q3 2023.
Received $10M from closing of December 2022 securities purchase agreement with Nantahala, Abingworth, Vivo Capital; warrants for 22.6M shares issued.
Cash and equivalents $7.9M at March 31, 2023; plus $10M received, expected to fund through top-line data.
Net loss $8.4M ($0.88 per share) vs $5.7M ($1.07) in Q1 2022; R&D expenses $5.3M vs $4.0M.

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