Soleno Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 06:06 am
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Soleno Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 10.86 million compared to USD 6.13 million a year ago. Basic loss per share from continuing operations was USD 0.95 compared to USD 0.65 a year ago. Diluted loss per share from continuing operations was USD 0.95 compared to USD 0.65 a year ago.
For the nine months, net loss was USD 27.69 million compared to USD 18.58 million a year ago. Basic loss per share from continuing operations was USD 2.65 compared to USD 2.31 a year ago. Diluted loss per share from continuing operations was USD 2.65 compared to USD 2.31 a year ago.
Soleno Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate, Diazoxide Choline Extended-Release tablets (DCCR), extended-release tablets, a once-daily oral tablet for the treatment of Prader-Willi syndrome (PWS), recently completed its Phase 3 development program. DCCR is a potent ATP-sensitive potassium (KATP) channel activator. DCCR tablets consist of the active ingredient diazoxide choline, a choline salt of diazoxide, which is a benzothiadiazine. DCCRâs mode of action with targets in the brain, pancreas and fat tissue has the potential to impact complex diseases like PWS to reduce appetite, reduce food seeking, improve satiety, improve insulin and leptin resistance and reduce body fat. The Company has a Fast-Track designation for DCCR in PWS and an orphan designation for the drug in the United States and the European Union.