10-K Filing

SOLENO THERAPEUTICS INC CIK: 1484565 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001193125-15-091006`
Period End Date	20141231
Filing Date	20150313
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	capn-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 22 Cash Flow Statement 47 Stockholders Equity 16 Comprehensive Income 1

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	1.86M	shares	Point-in-time
Convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	865,429.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.16M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	535,685.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.77M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$149.60K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	535,685.00	shares	Point-in-time
Inventory	`InventoryNet`	$109.34K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	535,685.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.77M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.27K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$85.15K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$63.17K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$57.61K	USD	Point-in-time
Total assets	`Assets`	$1.59M	USD	Point-in-time
Total assets	`Assets`	$8.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$986.80K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$57.72K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$201.46K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$128.65K	USD	Point-in-time
Line of credit and accrued interest	`LinesOfCreditCurrent`	$101.53K	USD	Point-in-time
Convertible promissory notes and accrued interest	`ConvertibleDebtCurrent`	$13.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.18M	USD	Point-in-time
Convertible preferred stock warrant liability	`DerivativeLiabilitiesNoncurrent`	$1.46M	USD	Point-in-time
Commitments (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized at December 31, 2014 and 10,000,000 shares authorized at December 31, 2013; 6,769,106 and 535,685 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively.	`CommonStockValue`	$536.00	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized at December 31, 2014 and 10,000,000 shares authorized at December 31, 2013; 6,769,106 and 535,685 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively.	`CommonStockValue`	$6.77K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$60.64M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$19.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-70.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.10M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-34.20M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-10.33M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-37.86M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.59M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.40M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$3.00M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.38M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$252.36K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.47M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.67M	USD	Annual
Total expenses	`OperatingExpenses`	$5.16M	USD	Annual
Total expenses	`OperatingExpenses`	$3.85M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-5.16M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-846.78K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.77K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.08K	USD	Annual
Interest expense	`InterestExpense`	$4.13M	USD	Annual
Interest expense	`InterestExpense`	$2.86M	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.97K	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.59M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.87M	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-10.92	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-6.92	USD	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.27M	shares	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	535,648.00	shares	Annual

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.87M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$42.11K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$28.52K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$345.44K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$38.42K	USD	Annual
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.73K	USD	Annual
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.45K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$105.32K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$4.58M	USD	Annual
Non-cash interest expense relating to convertible promissory notes & amortization of discount on notes	`AmortizationOfDebtDiscountPremium`	$4.13M	USD	Annual
Non-cash interest expense relating to convertible promissory notes & amortization of discount on notes	`AmortizationOfDebtDiscountPremium`	$2.86M	USD	Annual
Non-cash interest expense relating to line of credit	`LineOfCreditFacilityPeriodicPaymentInterest`	$1.53K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$149.60K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-149.60K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$109.34K	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-150.78K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$167.12K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.56K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$353.90K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-161.80K	USD	Annual
Accrued compensation & other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-62.36K	USD	Annual
Accrued compensation & other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$72.81K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.48M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-885.22K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.68K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.27K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-30.68K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.27K	USD	Annual
Proceeds from issuance of preferred stock warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$1.95K	USD	Annual
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$2.49M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$100.00K	USD	Annual
Proceeds from Initial Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$10.73M	USD	Annual
Initial Public Offering costs paid	`PaymentsOfStockIssuanceCosts`	$2.12M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$11.20M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.69M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-886.49K	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.16M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.16M	USD	Point-in-time
Initial Public Offering costs accrued and included in Accounts Payable	`InitialPublicOfferingCostsIncludedInAccountsPayable`	$575.18K	USD	Annual
Issuance of restricted common stock in exchange for intellectual property	`IssuanceOfRestrictedCommonStockForIntellectualProperty`	$23.99K	USD	Annual
Beneficial conversion feature related to the warrants to purchase shares of convertible preferred stock in connection with convertible promissory notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	$1.72M	USD	Annual
Issuance of warrants for the purchase of convertible preferred stock in connection with notes payable	`IssuanceOfWarrantsInConnectionWithNotesPayable`	$966.98K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balances at beginning, Amount	`StockholdersEquity`	$-34.20M	USD	Point-in-time
Balances at beginning, Amount	`StockholdersEquity`	$-10.33M	USD	Point-in-time
Balances at beginning, Amount	`StockholdersEquity`	$-37.86M	USD	Point-in-time
Vesting of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$23.99K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$14.43K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$345.44K	USD	Annual
Conversion of preferred stock to common stock in IPO	`ConversionOfStockAmountIssued1`	$23.81M	USD	Annual
Stock warrant liability reclassification/Issuance of warrants for overallotment exercise	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$1.22M	USD	Annual
Issuance of common stock in IPO (net of discounts & commission of $861,948)	`StockIssuedDuringPeriodValueNewIssues`	$9.85M	USD	Annual
Beneficial conversion feature in connection with related party convertible promissory notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$1.72M	USD	Annual
Deferred IPO costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$1.83M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.71M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.87M	USD	Annual
Balances at end, Amount	`StockholdersEquity`	$-34.20M	USD	Point-in-time
Balances at end, Amount	`StockholdersEquity`	$-10.33M	USD	Point-in-time
Balances at end, Amount	`StockholdersEquity`	$-37.86M	USD	Point-in-time

Comprehensive Income 1 line items

Line Item	Tag	Value	Unit	Period
Issuance of common stock in IPO, discounts & commission	`DiscountAndCommissionOnIssuanceOfShares`	$861.95K	USD	Annual

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