10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-018686`
Period End Date	20190331
Filing Date	20190513
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	slno-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 30 Cash Flow Statement 47 Stockholders Equity 16

Balance Sheet 52 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
Common stock, shares issued	`CommonStockSharesIssued`	31.78M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.76M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.78M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.76M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$529.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$603.00K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$72.00K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$64.00K	USD	Point-in-time
Minority interest investment in former subsidiary	`MinorityInterestInvestmentInSubsidiary`	$788.00K	USD	Point-in-time
Minority interest investment in former subsidiary	`MinorityInterestInvestmentInSubsidiary`	$978.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.86M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.47M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$17.98M	USD	Point-in-time
Total assets	`Assets`	$38.87M	USD	Point-in-time
Total assets	`Assets`	$43.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$934.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.26M	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$943.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$992.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.25M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$5.65M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$5.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.24M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$32.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$32.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$157.41M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$157.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-127.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-134.06M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$23.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$26.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$23.63M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.41M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$43.15M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$38.87M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$1.18M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.76M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.87M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.01M	USD	1 Quarter
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$428.00K	USD	1 Quarter
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$206.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.98M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.98M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.48M	USD	1 Quarter
Cease-use income	`GainLossOnContractTermination`	$3.00K	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$1.92M	USD	1 Quarter
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-163.00K	USD	1 Quarter
Loss from minority interest investment	`IncomeLossFromMinorityInterestInvestments`	$-190.00K	USD	1 Quarter
Interest income	`OtherNonoperatingIncomeExpense`	$57.00K	USD	1 Quarter
Interest income	`OtherNonoperatingIncomeExpense`	$19.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.05M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$185.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-7.03M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.29M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-514.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.03M	USD	1 Quarter
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.22	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
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	1 Quarter
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.76M	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 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.80M	USD	1 Quarter
Net loss	`ProfitLoss`	$-7.03M	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-514.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-7.03M	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-3.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$492.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$489.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$341.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$202.00K	USD	1 Quarter
Board fees paid with common stock	`OtherNoncashExpense`	$46.00K	USD	1 Quarter
Board fees paid with common stock	`OtherNoncashExpense`	$82.00K	USD	1 Quarter
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$1.92M	USD	1 Quarter
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$-163.00K	USD	1 Quarter
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$428.00K	USD	1 Quarter
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$206.00K	USD	1 Quarter
Operating loss on minority interest investment	`IncomeLossFromEquityMethodInvestments`	$-190.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$74.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$80.00K	USD	1 Quarter
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$8.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$409.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$324.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$49.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-252.00K	USD	1 Quarter
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.69M	USD	1 Quarter
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.03M	USD	1 Quarter
Net cash used in discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-487.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.52M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.69M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	1 Quarter
Net cash used in continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.00K	USD	1 Quarter
Cash paid for the issuance of common stock and common stock warrants	`CashPaidForTheIssuanceOfCommonStockAndCommonStockWarrants`	$112.00K	USD	1 Quarter
Net cash 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 decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.70M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.23M	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`	$23.10M	USD	Point-in-time
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`	$17.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.10M	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`	$17.14M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.40M	USD	Point-in-time
Accrued liability for cost of issuing common stock	`AccruedLiabilityForCostOfIssuingCommonStock`	$91.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balances at beginning	`StockholdersEquity`	$23.25M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$26.82M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$23.63M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$30.41M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$200.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$202.00K	USD	1 Quarter
Issuance of common stock on conversion of series B convertible preferred shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.00K	USD	1 Quarter
Issuance of restricted common stock for bonuses	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$159.00K	USD	1 Quarter
Issuance of common stock to board members in lieu of cash payments for quarterly board fees	`StockIssuedDuringPeriodValueIssuedForServices`	$46.00K	USD	1 Quarter
Issuance of common stock to board members in lieu of cash payments for quarterly board fees	`StockIssuedDuringPeriodValueIssuedForServices`	$82.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.03M	USD	1 Quarter
Balances at ending	`StockholdersEquity`	$23.25M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$26.82M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$23.63M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$30.41M	USD	Point-in-time

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