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Mar 31, 2024
Soleno Therapeutics Q1 2024 Earnings Report
Soleno Therapeutics reported financial results for Q1 2024 and provided a corporate update.
Key Takeaways
Soleno Therapeutics reported a net loss of $21.4 million for the quarter ended March 31, 2024. The company's research and development efforts are primarily focused on advancing its lead product candidate, DCCR, for the treatment of PWS. As of March 31, 2024, Soleno had $42.8 million of cash and cash equivalents, $106.8 million of short-term investments, and $8.8 million of long-term investments.
Closed on approximately $158.7 million underwritten public offering.
Granted Breakthrough Therapy Designation by the FDA for DCCR for the treatment of adults and children ages four years and older with genetically confirmed Prader-Willi syndrome (PWS) who have hyperphagia.
Planned submission of a New Drug Application (NDA) for DCCR in PWS remains on track for mid-2024.
Strengthened leadership team with appointments of Meredith Manning, M.B.A. as Chief Commercial Officer, Dairine Dempsey, Ph.D. as Vice President, Europe and Lauren Budesheim, M.S. as Vice President of Human Resources.
Forward Guidance
The press release contains forward-looking statements regarding the timing of any regulatory process, filing of an NDA, or ultimate approvals and determining a path forward for DCCR for the treatment of PWS.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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