10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-164124`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	slno-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 33 Cash Flow Statement 53

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value (in dollars per share)	`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
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.87M	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`	19.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.24M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$423.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$343.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.24M	shares	Point-in-time
Current assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$516.00K	USD	Point-in-time
Current assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$484.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$126.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$126.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.41M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$19.93M	USD	Point-in-time
Long-term assets held for sale	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$466.00K	USD	Point-in-time
Long-term assets held for sale	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$453.00K	USD	Point-in-time
Total assets	`Assets`	$36.33M	USD	Point-in-time
Total assets	`Assets`	$39.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$633.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$973.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$721.00K	USD	Point-in-time
Current liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$127.00K	USD	Point-in-time
Current liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$88.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.94M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$5.08M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$5.51M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.00K	USD	Point-in-time
Long-term liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent`	$625.00K	USD	Point-in-time
Long-term liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent`	$225.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.31M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$19.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$140.73M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$140.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-113.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.54M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.02M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.18M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$327.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$27.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.87M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.02M	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$428.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$5.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.37M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.37M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.48M	USD	1 Quarter
Cease-use income (expense)	`GainLossOnContractTermination`	$-2.00K	USD	1 Quarter
Cease-use income (expense)	`GainLossOnContractTermination`	$3.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$69.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-212.00K	USD	1 Quarter
Interest and other income (expense)	`OtherNonrecurringIncomeExpense`	$-19.00K	USD	1 Quarter
Interest and other income (expense)	`OtherNonrecurringIncomeExpense`	$601.00K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-672.00K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$234.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-2.04M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.24M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-842.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-514.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.75M	USD	1 Quarter
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.40	USD	1 Quarter
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.17	USD	1 Quarter
Loss per common share from discontinued operations, basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Loss per common share from discontinued operations, basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.17	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.57	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.09M	shares	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.53M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.89M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.75M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-842.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-514.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-2.04M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$119.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$492.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$140.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$341.00K	USD	1 Quarter
Board fees paid with common stock	`OtherNoncashExpense`	$82.00K	USD	1 Quarter
Board fees paid with common stock	`OtherNoncashExpense`	$45.00K	USD	1 Quarter
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$69.00K	USD	1 Quarter
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$-212.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$428.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$5.00K	USD	1 Quarter
Non-cash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	$602.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$80.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$409.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-204.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-252.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-49.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-16.00K	USD	1 Quarter
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.03M	USD	1 Quarter
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.35M	USD	1 Quarter
Net cash used in discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-487.00K	USD	1 Quarter
Net cash used in discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-834.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.52M	USD	1 Quarter
Net cash used in discontinued investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-4.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	1 Quarter
Cash paid for the issuance cost of common stock and common stock warrants	`PaymentsOfStockIssuanceCosts`	$112.00K	USD	1 Quarter
Net cash provided by (used in) continuing financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.00M	USD	1 Quarter
Net cash provided by (used in) continuing financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-112.00K	USD	1 Quarter
Net cash provided by discontinued financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$400.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$288.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.00M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.23M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$7.81M	USD	1 Quarter
Net increase in cash and cash equivalents included in current assets held for sale	`CashAndCashEquivalentsPeriodIncreaseDecreaseIncludedInCurrentAssetsHeldForSale`	$-2.00K	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.57M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.90M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.57M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Issuance of common stock in Essentialis acquisition	`StockIssued1`	$17.25M	USD	1 Quarter
Contingent cash consideration of Essentialis acquisition	`NoncashOrPartNoncashAcquisitionContingentConsideration`	$2.59M	USD	1 Quarter
Costs of issuing common stock and common stock warrants recorded in accounts payable	`CostsOfIssuingCommonStockAndCommonStockWarrantsRecordedInAccountsPayable`	$91.00K	USD	1 Quarter

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