10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-375687`
Period End Date	20150930
Filing Date	20151112
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	capn-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 59 Cash Flow Statement 57

Balance Sheet 50 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`	6.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.77M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.72M	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
Accounts receivable	`AccountsReceivableNetCurrent`	$94.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$111.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.00K	USD	Point-in-time
Inventory	`InventoryNet`	$109.00K	USD	Point-in-time
Inventory	`InventoryNet`	$376.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$225.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$98.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.00K	USD	Point-in-time
Goodwill	`Goodwill`	$718.00K	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$946.00K	USD	Point-in-time
Total assets	`Assets`	$7.29M	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`	$953.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$201.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.22M	USD	Point-in-time
Series B warrant liability	`DerivativeLiabilitiesCurrent`	$3.85M	USD	Point-in-time
Line of credit and accrued interest	`LinesOfCreditCurrent`	$102.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.29M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$151.00K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$18.30M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.58M	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized at September 30, 2015 and December 31, 2014; 12,318,508 and 6,769,106 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized at September 30, 2015 and December 31, 2014; 12,318,508 and 6,769,106 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	`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`	$82.10M	USD	Point-in-time
Accumulated deficit (see Note 4)	`RetainedEarningsAccumulatedDeficit`	$-70.34M	USD	Point-in-time
Accumulated deficit (see Note 4)	`RetainedEarningsAccumulatedDeficit`	$-83.40M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.29M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$7.29M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.40M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Government grant revenue	`RevenueFromGrants`	$220.00K	USD	3 Qtrs
Government grant revenue	`RevenueFromGrants`	$155.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$146.00K	USD	3 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$92.00K	USD	1 Quarter
Total revenue	`Revenues`	$366.00K	USD	3 Qtrs
Total revenue	`Revenues`	$247.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$56.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$96.00K	USD	3 Qtrs
Gross profit	`GrossProfit`	$191.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$270.00K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$717.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.63M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$3.25M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.24M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$96.00K	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$467.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$84.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$522.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.43M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.58M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.71M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$8.92M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$3.31M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$3.37M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.32M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.65M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.31M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.18M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.32M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.81M	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$752.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.00K	USD	3 Qtrs
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$318.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$1.18M	USD	3 Qtrs
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-73.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$895.00K	USD	3 Qtrs
Other expense	`OtherNonrecurringExpense`	$183.00K	USD	3 Qtrs
Other expense	`OtherNonrecurringExpense`	$183.00K	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-2.71M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.95M	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.41M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-1.07M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-110.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.06M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.02M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.39M	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`	$-11.24	USD	3 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-1.60	USD	3 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-4.47	USD	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	535,685.00	shares	3 Qtrs
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.04M	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
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	8.18M	shares	3 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Issuance of Common Stock to BDDI, Shares	`NoncashOrPartNoncashNumberOfSharesIssued`	50,000.00	shares	3 Qtrs
Net loss	`NetIncomeLoss`	$-13.06M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.02M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$20.00K	USD	3 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$21.00K	USD	3 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$5.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$144.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$746.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$11.00K	USD	3 Qtrs
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	3 Qtrs
Change in fair value of preferred stock warrants	`ChangeInFairValueOfPreferredStockWarrants`	$888.00K	USD	3 Qtrs
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$1.18M	USD	3 Qtrs
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	$3.05M	USD	3 Qtrs
Non-cash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	$183.00K	USD	3 Qtrs
Non-cash interest expense relating to warrants and convertible promissory notes	`PaidInKindInterest`	$1.81M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$94.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-112.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$267.00K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$101.00K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-27.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$103.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$542.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$229.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$720.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-6.92M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.93M	USD	3 Qtrs
Cash paid for purchase of assets of NeoForce Group, Inc.	`PaymentsToAcquireBusinessesGross`	$1.00M	USD	3 Qtrs
Increase in restricted cash	`IncreaseInRestrictedCash`	$91.00K	USD	3 Qtrs
Cash paid for patent acquisition	`PaymentsToAcquireIntangibleAssets`	$150.00K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.00K	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.29M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.43M	USD	3 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$294.00K	USD	3 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$2.00M	USD	3 Qtrs
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	$276.00K	USD	3 Qtrs
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	$530.00K	USD	3 Qtrs
Repayment of credit line	`RepaymentsOfLinesOfCredit`	$102.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.72M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.97M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.24M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.21M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.72M	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, end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.72M	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
Patent costs included in Accrued liabilities	`PatentCostsIncludedInAccruedLiabilities`	$300.00K	USD	3 Qtrs
Reduction in initial public offering costs payable	`ReductionInInitialPublicOfferingCostsPayable`	$45.00K	USD	3 Qtrs
Cashless exercise of 2010/2012 warrants	`CashlessExerciseOfWarrant`	$13.00K	USD	3 Qtrs
Issuance of 50,000 shares of Common Stock as consideration for patent acquisition	`StockIssued1`	$112.00K	USD	3 Qtrs

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