10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-169136`
Period End Date	20150331
Filing Date	20150504
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	capn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 27 Cash Flow Statement 44

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`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 issued	`CommonStockSharesIssued`	7.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.45M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$764.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.53M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.00K	USD	Point-in-time
Inventory	`InventoryNet`	$206.00K	USD	Point-in-time
Inventory	`InventoryNet`	$109.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$260.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.00K	USD	Point-in-time
Total assets	`Assets`	$10.07M	USD	Point-in-time
Total assets	`Assets`	$8.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$987.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$621.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$201.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$438.00K	USD	Point-in-time
Line of credit and accrued interest	`LinesOfCreditCurrent`	$102.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$18.30M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$20.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.37M	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2015 and December 31, 2014; 7,448,389 and 6,769,106 shares issued and outstanding at March 31, 2015 and December 31, 2014	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized at March 31, 2015 and December 31, 2014; 7,448,389 and 6,769,106 shares issued and outstanding at March 31, 2015 and December 31, 2014	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in-capital (see Note 4)	`AdditionalPaidInCapitalCommonStock`	$59.14M	USD	Point-in-time
Additional paid-in-capital (see Note 4)	`AdditionalPaidInCapitalCommonStock`	$70.68M	USD	Point-in-time
Accumulated deficit (see Note 4)	`RetainedEarningsAccumulatedDeficit`	$-70.34M	USD	Point-in-time
Accumulated deficit (see Note 4)	`RetainedEarningsAccumulatedDeficit`	$-81.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-11.30M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.40M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$10.07M	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$22.00K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$18.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$4.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$878.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$372.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$260.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$312.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$684.00K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.43M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-684.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.43M	USD	1 Quarter
Interest (expense)	`InterestExpense`	$1.00K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$388.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$6.17M	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-246.00K	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.95M	USD	Annual
Net loss	`NetIncomeLoss`	$-834.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-11.65M	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-1.56	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-10.42	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-1.67	USD	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.97M	shares	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	535,685.00	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-834.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-11.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$401.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$11.00K	USD	1 Quarter
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	1 Quarter
Change in fair value of preferred stock warrants in 2014 and common stock warrants in 2005	`FairValueAdjustmentOfWarrants`	$6.17M	USD	1 Quarter
Change in fair value of preferred stock warrants in 2014 and common stock warrants in 2005	`FairValueAdjustmentOfWarrants`	$-246.00K	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	1 Quarter
Non-cash interest expense relating to warrants and convertible promissory notes	`PaidInKindInterest`	$388.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-150.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$97.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$41.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$77.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$199.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$31.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$115.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$94.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.81M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-509.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.00K	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$12.00K	USD	1 Quarter
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	$530.00K	USD	1 Quarter
Repayment of credit line	`RepaymentsOfLinesOfCredit`	$102.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.38M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.57M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-505.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$764.00K	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`	$7.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$764.00K	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`	$7.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.53M	USD	Point-in-time
Reduction in initial public offering costs payable	`ReductionInInitialPublicOfferingCostsPayable`	$45.00K	USD	1 Quarter
Cashless exercise of 2010/2012 warrants	`CashlessExerciseOfWarrant`	$13.00K	USD	1 Quarter

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