Soleno Therapeutics reports Q3 EPS($1.83) , consensus (63c)

Total other income, net, was $3.6 M for the three months ended September 30, , compared to total other expense, net, of $0.5M in the same period of 2023. The increase was primarily due to an increase in interest income driven by higher cash and cash equivalents, marketable securities and long-term marketable securities during the three months ended September 30, 2024, compared to the three months ended September 30, 2023..”In the third quarter of 2024, we achieved a major milestone with FDA acceptance of our NDA seeking approval of DCCR for the treatment of PWS,” said Anish Bhatnagar, M.D., Chief Executive Officer of Soleno Therapeutics (SLNO). “Our dialogue with the FDA has been productive to date, and we look forward to continued collaboration as the review process advances. As we look towards potential approval of DCCR, our commercial team continues to prepare for our planned U.S. market launch. Our strong balance sheet supports successful execution of a launch and the delivery of a transformative therapy to people living with PWS, if approved.”Net loss was approximately $76.6 million, or $1.83 per basic and diluted share, for the three months ended September 30, 2024, and $10.9 million, or $0.95 per basic and diluted share, in the same period of 2023.