Soleno Therapeutics ( (SLNO) ) has released its Q4 earnings. Here is a breakdown of the information Soleno Therapeutics presented to its investors.
Soleno Therapeutics is a biopharmaceutical company focused on developing novel therapeutics for the treatment of rare diseases, with a primary focus on Prader-Willi syndrome (PWS). The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting key developments in its regulatory and commercial strategies.
In 2024, Soleno achieved significant milestones, including the acceptance of its New Drug Application (NDA) for diazoxide choline extended-release tablets (DCCR) by the FDA, which was granted Priority Review. The company has also been preparing for the anticipated U.S. launch of DCCR, strengthening its commercial and medical affairs teams and making strategic investments in key programs.
Financially, Soleno reported a net loss of approximately $175.9 million for the year, driven by increased research and development expenses and general administrative costs, largely due to stock-based compensation and preparations for the potential commercial launch of DCCR. The company closed a $158.7 million public offering and secured a loan agreement with Oxford Finance for up to $200 million to support its initiatives.
Looking ahead, Soleno is focused on the potential approval and launch of DCCR, aiming to address the unmet needs of patients with PWS. The company is well-positioned with a strong balance sheet and extensive commercial preparations, as it awaits the FDA’s decision on its NDA.