10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-248502`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	slno-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 62 Cash Flow Statement 62

Balance Sheet 61 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.41M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.24M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.24M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.41M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$248.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$343.00K	USD	Point-in-time
Current assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$516.00K	USD	Point-in-time
Current assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$470.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.99M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.00K	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`	$19.44M	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`	$33.34M	USD	Point-in-time
Total assets	`Assets`	$39.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$981.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$633.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$862.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$973.00K	USD	Point-in-time
Current liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$102.00K	USD	Point-in-time
Current liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$127.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.95M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$5.44M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$5.08M	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`	$225.00K	USD	Point-in-time
Long-term liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent`	$1.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.51M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$19.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$21.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$141.19M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$140.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-125.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-113.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$15.84M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.34M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.02M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.10M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$773.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.89M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.71M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$27.00K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.63M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.21M	USD	2 Qtrs
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$-67.00K	USD	1 Quarter
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$361.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$6.89M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.34M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-6.89M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.41M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.97M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.34M	USD	2 Qtrs
Cease-use income (expense)	`GainLossOnContractTermination`	$3.00K	USD	1 Quarter
Cease-use income (expense)	`GainLossOnContractTermination`	$-2.00K	USD	2 Qtrs
Cease-use income (expense)	`GainLossOnContractTermination`	$6.00K	USD	2 Qtrs
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$3.83M	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$91.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$3.62M	USD	2 Qtrs
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$160.00K	USD	2 Qtrs
Interest and other income (expense)	`OtherNonrecurringIncomeExpense`	$-30.00K	USD	1 Quarter
Interest and other income (expense)	`OtherNonrecurringIncomeExpense`	$-49.00K	USD	2 Qtrs
Interest and other income (expense)	`OtherNonrecurringIncomeExpense`	$598.00K	USD	2 Qtrs
Interest and other income (expense)	`OtherNonrecurringIncomeExpense`	$-3.00K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-3.57M	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-760.00K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-3.80M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-88.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-7.21M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-5.10M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-10.46M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.06M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-937.00K	USD	2 Qtrs
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-913.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-423.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.75M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.86M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.97M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.64M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.39M	USD	2 Qtrs
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.36	USD	1 Quarter
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.52	USD	2 Qtrs
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.32	USD	1 Quarter
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.70	USD	2 Qtrs
Loss per common share from discontinued operations, basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.24	USD	2 Qtrs
Loss per common share from discontinued operations, basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.05	USD	2 Qtrs
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`	$-0.10	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.57	USD	2 Qtrs
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.42	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.94	USD	2 Qtrs
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.32M	shares	2 Qtrs
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.94M	shares	2 Qtrs
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.35M	shares	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.52M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-11.39M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-6.86M	USD	2 Qtrs
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-937.00K	USD	2 Qtrs
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-913.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-423.00K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.75M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-7.21M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-5.10M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-10.46M	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$983.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$570.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$520.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$545.00K	USD	2 Qtrs
Board fees paid with common stock	`OtherNoncashExpense`	$113.00K	USD	2 Qtrs
Board fees paid with common stock	`OtherNoncashExpense`	$136.00K	USD	2 Qtrs
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$3.83M	USD	1 Quarter
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$91.00K	USD	1 Quarter
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$3.62M	USD	2 Qtrs
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$160.00K	USD	2 Qtrs
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$-67.00K	USD	1 Quarter
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$361.00K	USD	2 Qtrs
Non-cash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	$602.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-95.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-41.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$348.00K	USD	2 Qtrs
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-111.00K	USD	2 Qtrs
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-264.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-25.00K	USD	2 Qtrs
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.50M	USD	2 Qtrs
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.44M	USD	2 Qtrs
Net cash used in discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-769.00K	USD	2 Qtrs
Net cash used in discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-1.74M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.17M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.27M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.00K	USD	2 Qtrs
Net cash used in continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.00K	USD	2 Qtrs
Net cash used in continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.00K	USD	2 Qtrs
Net cash used in discontinued investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-1.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	2 Qtrs
Net cash provided by continuing financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$10.00M	USD	2 Qtrs
Net cash provided by discontinued financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$825.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.00M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$825.00K	USD	2 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.82M	USD	2 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.45M	USD	2 Qtrs
Net increase in cash and cash equivalents included in current assets held for sale	`CashAndCashEquivalentsPeriodIncreaseDecreaseIncludedInCurrentAssetsHeldForSale`	$-96.00K	USD	2 Qtrs
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.59M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.58M	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`	$12.59M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.58M	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`	$18.76M	USD	2 Qtrs
Contingent consideration of Essentialis acquisition	`NoncashOrPartNoncashAcquisitionContingentConsideration`	$1.09M	USD	2 Qtrs
Costs of Essentialis acquisition included in accounts payable	`NonCashOrPartNoncashAcquisitionValueOfAssetsAcquiredButNotYetPaid`	$349.00K	USD	2 Qtrs

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