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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.47

Q3 Net $26.01

Income mln

Q3 Basic $0.49

EPS

Q3 $43.91

Operatin mln

g

Expenses

Q3 $22.10

Operatin mln

g Income

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 ( SLNO ) 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:

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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.)