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Soleno Therapeutics Provides Corporate Update and Reports First Quarter 2022 Financial Results
REDWOOD CITY, Calif., May 10, 2022 (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 10, 2022 (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, 2022. First Quarter 2022 and Recent Corporate Highlights Continuing dialogue with the U.S. Food and Drug Administration (FDA) to obtain alignment on the design of a study to provide additional clinical data to support the potential filing of a New Drug Application for diazoxide choline extended-release (DCCR) for the treatment of Prader-Willi Syndrome (PWS)Presented posters highlighting long-term results from the Company’s studies evaluating DCCR tablets for the treatment of patients with PWS who received DCCR for 52 weeks and compared to a matched cohort from the PATH for PWS natural history study (C601/C602) at the Pediatric Academic Societies (PAS) 2022 Virtual Annual Meeting and Pediatric Endocrinology Society (PES) 2022 Virtual Annual MeetingClosed $15 million public offering on March 31, 2022 “We look forward to reaching alignment with the FDA on generating additional controlled clinical data,” said Anish Bhatnagar, M.D., Chief Executive Officer of Soleno Therapeutics. “Achieving regulatory approval as expeditiously as possible for DCCR continues to be the Soleno team’s core priority. Our recent data presentations at the PAS and PES annual meetings highlight the significant potential of DCCR to improve behavioral and metabolic outcomes for people with PWS who have no current therapeutic options. Our recently closed public offering has strengthened our balance sheet, providing us with financial flexibility as we continue to advance our strategic clinical and operational plans.” 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, 2022 Financial Results Research and development expenses were $4.0 million for the quarter ended March 31, 2022, compared to $7.2 million in the same period of 2021. Soleno’s research and development spending continues to fluctuate depending upon the state of its clinical programs and the timing of CMC costs...