Soleno Therapeutics reports Q1 EPS (59c), consensus (37c)

Reports that as of March 31 Soleno had $42.8M of cash and cash equivalents, $106.8M of short-term investments, and $8.8M of long-term investments. In addition, in May , the Company received $148.8M in net proceeds from the Closing of a public offering, bringing pro forma cash reserves to a total of $307.2M .”Soleno’s top priority remains NDA submission for DCCR in PWS,” said Anish Bhatnagar, M.D., Chief Executive Officer of Soleno Therapeutics. “Receiving Breakthrough Therapy Designation from the FDA for DCCR was a significant milestone, and we are working diligently to ensure a timely NDA submission. In parallel, our commercial team has begun preparations for a potential commercial launch of DCCR. We believe DCCR has the potential to significantly improve the lives of people living with PWS, and, if approved, could be a foundational therapy in the treatment of PWS.”