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Jun 30, 2023
Soleno Therapeutics Q2 2023 Earnings Report
Soleno Therapeutics reported financial results for the second quarter ended June 30, 2023 and provided a corporate update.
Key Takeaways
Soleno Therapeutics reported a net loss of $8.5 million for the second quarter of 2023. The company's research and development expenses were $5.1 million, and general and administrative expenses were $3.2 million. As of June 30, 2023, Soleno had cash and cash equivalents of approximately $19.4 million.
Completed enrollment in the randomized withdrawal period of Study C602 for Prader-Willi syndrome (PWS).
Top-line data from Study C602 is expected around the end of third quarter 2023.
Received $10 million in connection with closing of December 2022 Securities Purchase Agreement (SPA).
Net loss for the quarter was $8.5 million, or $0.81 per share.
Forward Guidance
The press release contains forward-looking statements regarding the closing of the warrant financing under the Securities Purchase Agreement, the receipt of top-line data from the randomized withdrawal period, and the timing of any regulatory process or ultimate approvals and determining a path forward for DCCR for the treatment of PWS.
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