10-K Filing

SOLENO THERAPEUTICS INC CIK: 1484565 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0000950170-23-009211`
Period End Date	20221231
Filing Date	20230322
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	slno-20221231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 26 Cash Flow Statement 46 Stockholders Equity 15

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.32M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.16M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.16M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.04M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$421.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$131.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$12.64M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$10.69M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$40.00K	USD	Point-in-time
Total assets	`Assets`	$35.55M	USD	Point-in-time
Total assets	`Assets`	$26.50M	USD	Point-in-time
Accounts payable,net	`AccountsPayableCurrent`	$3.25M	USD	Point-in-time
Accounts payable,net	`AccountsPayableCurrent`	$1.78M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.68M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$728.00K	USD	Point-in-time
Accrued clinical trial site costs	`AccruedClinicalTrialCostsCurrent`	$3.22M	USD	Point-in-time
Accrued clinical trial site costs	`AccruedClinicalTrialCostsCurrent`	$3.42M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$282.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$155.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$484.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$323.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.31M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$9.55M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$8.84M	USD	Point-in-time
Long-term lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$175.00K	USD	Point-in-time
Long-term lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$17.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.15M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 8,159,382 and 5,324,287 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively.	`CommonStockValue`	$80.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 8,159,382 and 5,324,287 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively.	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$231.07M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$247.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-237.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-213.35M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$17.79M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$45.55M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$10.35M	USD	Point-in-time
Total liabilities and stockholders'equity (deficit)	`LiabilitiesAndStockholdersEquity`	$26.50M	USD	Point-in-time
Total liabilities and stockholders'equity (deficit)	`LiabilitiesAndStockholdersEquity`	$35.55M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$15.27M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$21.45M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$10.81M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$9.84M	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$-731.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$-712.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$24.40M	USD	Annual
Total operating expenses	`OperatingExpenses`	$31.53M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-31.53M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-24.40M	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-508.00K	USD	Annual
Change in fair value of warrant liability	`FairValueAdjustmentOfWarrants`	$-30.00K	USD	Annual
Interest income	`OtherNonoperatingIncomeExpense`	$110.00K	USD	Annual
Interest income	`OtherNonoperatingIncomeExpense`	$300.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$618.00K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$330.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.07M	USD	Annual
Net loss	`NetIncomeLoss`	$-30.91M	USD	Annual
Net loss per common share basic	`EarningsPerShareBasic`	$-5.81	USD	Annual
Net loss per common share basic	`EarningsPerShareBasic`	$-2.87	USD	Annual
Net loss per common share diluted	`EarningsPerShareDiluted`	$-5.81	USD	Annual
Net loss per common share diluted	`EarningsPerShareDiluted`	$-2.87	USD	Annual
Weighted-average common shares outstanding used to calculate basic net loss per common share	`WeightedAverageNumberOfSharesOutstandingBasic`	5.32M	shares	Annual
Weighted-average common shares outstanding used to calculate basic net loss per common share	`WeightedAverageNumberOfSharesOutstandingBasic`	8.40M	shares	Annual
Weighted-average common shares outstanding used to calculate diluted net loss per common share	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.32M	shares	Annual
Weighted-average common shares outstanding used to calculate diluted net loss per common share	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.40M	shares	Annual

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-24.07M	USD	Annual
Net loss	`ProfitLoss`	$-30.91M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.96M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.96M	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$288.00K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$290.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$2.53M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$3.28M	USD	Annual
Change in fair value of common stock warrants	`FairValueAdjustmentOfWarrants`	$-508.00K	USD	Annual
Change in fair value of common stock warrants	`FairValueAdjustmentOfWarrants`	$-30.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$-731.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$-712.00K	USD	Annual
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$139.00K	USD	Annual
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-113.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.48M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-235.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$947.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-277.00K	USD	Annual
Accrued clinical trial site costs	`IncreaseDecreaseInAccruedClinicalTrialSiteCosts`	$-369.00K	USD	Annual
Accrued clinical trial site costs	`IncreaseDecreaseInAccruedClinicalTrialSiteCosts`	$-198.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-263.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-302.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$135.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$161.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.78M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-27.77M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.00K	USD	Annual
Gross proceeds from sale of common stock and common stock warrants	`ProceedsFromSaleOfCommonStockAndCommonStockWarrantsNetOfCosts`	$15.15M	USD	Annual
Payment of issuance costs	`PaymentsOfStockIssuanceCosts`	$1.04M	USD	Annual
Tax withholding payments for net share-settled equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$120.00K	USD	Annual
Tax withholding payments for net share-settled equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$16.00K	USD	Annual
Principal paid on finance lease liabilities	`FinanceLeasePrincipalPayments`	$8.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-128.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.09M	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-27.92M	USD	Annual
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.70M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.22M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.60M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.22M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.30M	USD	Point-in-time
Right-of use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$581.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Issuance of common stock, warrants	`FairValueAdjustmentOfWarrants`	$-508.00K	USD	Annual
Issuance of common stock, warrants	`FairValueAdjustmentOfWarrants`	$-30.00K	USD	Annual
Balances at beginning	`StockholdersEquity`	$17.79M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$45.55M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$10.35M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.28M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.53M	USD	Annual
Tax withholding payments for net share-settled equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$120.00K	USD	Annual
Tax withholding payments for net share-settled equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$16.00K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$342.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.07M	USD	Annual
Net loss	`NetIncomeLoss`	$-30.91M	USD	Annual
Balances at ending	`StockholdersEquity`	$17.79M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$45.55M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$10.35M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.