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Soleno Therapeutics Provides Corporate Update and Reports First Quarter 2020 Financial Results
REDWOOD CITY, Calif., May 12, 2020 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (“Soleno”) (NASDAQ: SLNO), a clinical-stage biopharmaceutical company
About this update from Soleno Therapeutics, Inc.
[{"type":"text","content":"REDWOOD CITY, Calif., May 12, 2020 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (“Soleno”) (NASDAQ: SLNO), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, today provided a corporate update, and reported financial results for the three months ended March 31, 2020.\n First Quarter 2020 and Recent Corporate Highlights Completed enrollment for Phase III DESTINY PWS study evaluating once-daily Diazoxide Choline Controlled-Release (DCCR) tablets for patients with Prader Willi Syndrome (PWS) in the first quarter 2020 and reconfirming top-line data anticipated before the end of the current quarter° A total of 127 subjects were randomized at 29 sites in the U.S. and the UK.° Subjects who have completed DESTINY PWS continue to be treated in the open-label extension study (C602), the duration of which has been increased from 12 months to up to 36 months.° No new safety signals associated with DCCR have been identified to date and no serious, unexpected adverse events related to DCCR have been reported.Published paper authored by Soleno’s researchers, entitled “The Potential Role of Activating the ATP-Sensitive Potassium Channel in the Treatment of Hyperphagic Obesity,” in the peer-reviewed journal, Genes° The article was included in the journal’s special supplement on the genetics of PWS and can be accessed at: https://www.mdpi.com/2073-4425/11/4/450/htm. “Following the completion of enrollment in our ongoing DESTINY PWS study earlier this year, we remain on track to announce top-line data during the current quarter,” said Anish Bhatnagar, M.D., Chief Executive Officer of Soleno Therapeutics. “Simultaneously, we continue to build upon the scientific evidence for the potential of DCCR to safely and effectively treat PWS. As such, a paper authored by Soleno’s researchers was recently published in the peer-reviewed journal, Genes, describing the rationale for the use of DCCR to treat hyperphagic obesity syndromes, such as PWS.” Financial ResultsSoleno’s current research and development efforts are primarily focused on advancing its lead product candidate, DCCR for the treatment of PWS, through late-stage clinical development. First Quarter Ended March 31, 2020 Financial ResultsResearch and development expenses were $6.7 million for the quarter ended March 31, 2020, compared to $2.8...