Overview

• Soleno Q3 net income at $26 mln, achieving profitability with VYKAT XR sales

• VYKAT XR sales reach $66 mln in Q3, more than doubling from previous quarter

• Company raised $230 mln through stock offering, strengthening financial position

Outlook

• Soleno expects selling, general and administrative expenses to rise post-VYKAT XR commercialization

Result Drivers

• VYKAT XR SALES - Sales of VYKAT XR reached $66 mln in Q3, more than doubling from previous quarter

• PWS COMMUNITY AWARENESS - Growing awareness of VYKAT XR's efficacy and safety profile within PWS community drove sales

• COMMERCIAL LAUNCH EXPENSES - Increased expenses due to commercial launch activities and disease state education

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Soleno Therapeutics Inc is $120.00, about 45.3% above its November 3 closing price of $65.65

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 463 three months ago

Press Release: ID:nGNX7vKZQj

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)