Soleno Q1 net loss $21.4M; FDA breakthrough therapy for DCCR; NDA mid-2024

SOLENO THERAPEUTICS INC

2024-Q1 EPS reported -$0.59

Net loss of $21.4M ($0.59 per share) vs $8.4M loss in Q1 2023; R&D expense rose to $14.6M from $5.3M.
Pro forma cash reserves $307.2M after May 2024 public offering netting $148.8M.
FDA granted Breakthrough Therapy Designation for DCCR in Prader-Willi syndrome; NDA submission on track for mid-2024.
Strengthened leadership: appointed Chief Commercial Officer, VP Europe, VP Human Resources.
Contingent consideration liability for DCCR commercial milestones valued at $12.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOLENO THERAPEUTICS INC reported first quarter ended March 31, 2024 results: net income Net loss was approximately $21.4 million, or $0.59 per basic and diluted share, EPS $0.59 per basic and diluted share.

Period: first quarter ended March 31, 2024
Net income: Net loss was approximately $21.4 million, or $0.59 per basic and diluted share
EPS: $0.59 per basic and diluted share
Result: reported results

Exact text from the filing

Net loss was approximately $21.4 million, or $0.59 per basic and diluted share, for the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001193125-24-135478

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