10-K Filing

SOLENO THERAPEUTICS INC CIK: 1484565 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001564590-20-008705`
Period End Date	20191231
Filing Date	20200304
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	slno-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 31 Cash Flow Statement 63 Stockholders Equity 15

Balance Sheet 58 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`	$23.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.66M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$411.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$529.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	31.76M	shares	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$64.00K	USD	Point-in-time
Minority interest investment in former subsidiary	`MinorityInterestInvestmentInSubsidiary`	$978.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$398.00K	USD	Point-in-time
Finance lease right-of-use assets	`FinanceLeaseRightOfUseAsset`	$24.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.47M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.52M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$59.00K	USD	Point-in-time
Total assets	`Assets`	$43.15M	USD	Point-in-time
Total assets	`Assets`	$38.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$934.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$274.00K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$283.00K	USD	Point-in-time
Accrued clinical trial site costs	`AccruedClinicalTrialCostsCurrent`	$320.00K	USD	Point-in-time
Accrued clinical trial site costs	`AccruedClinicalTrialCostsCurrent`	$2.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$305.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$349.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$382.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.96M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$5.94M	USD	Point-in-time
Contingent liability for Essentialis purchase price	`AssetAcquisitionContingentConsiderationLiabilityNoncurrent`	$5.65M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$147.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.23M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$45.00K	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`	$172.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-127.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-157.81M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$26.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.95M	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`	$38.17M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$16.27M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$7.18M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.56M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.93M	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$567.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$289.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$14.30M	USD	Annual
Total operating expenses	`OperatingExpenses`	$23.49M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-14.30M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-23.49M	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-522.00K	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$6.96M	USD	Annual
Gain on deconsolidation of former subsidiary	`DeconsolidationGainOrLossAmount`	$1.99M	USD	Annual
Loss from minority interest investment	`IncomeLossFromMinorityInterestInvestments`	$-478.00K	USD	Annual
Loss from minority interest investment	`IncomeLossFromMinorityInterestInvestments`	$-160.00K	USD	Annual
Interest and other income	`OtherNonoperatingIncomeExpense`	$154.00K	USD	Annual
Interest and other income	`OtherNonoperatingIncomeExpense`	$104.00K	USD	Annual
Total other (expense) income	`NonoperatingIncomeExpense`	$-7.29M	USD	Annual
Total other (expense) income	`NonoperatingIncomeExpense`	$2.46M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-11.84M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-30.77M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.49M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.34M	USD	Annual
Net loss	`NetIncomeLoss`	$-30.77M	USD	Annual
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.90	USD	Annual
Loss per common share from continuing operations, basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.56	USD	Annual
Loss per common share from discontinued operations, basic and diluted	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.07	USD	Annual
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.64	USD	Annual
Net loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.90	USD	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.98M	shares	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.14M	shares	Annual

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-30.77M	USD	Annual
Net loss	`ProfitLoss`	$-13.34M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.49M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-11.84M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-30.77M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.96M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.96M	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$386.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$1.26M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$825.00K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$-522.00K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$6.96M	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$567.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$289.00K	USD	Annual
Gain on deconsolidation of former subsidiary	`DeconsolidationGainOrLossAmount`	$1.99M	USD	Annual
Operating loss of minority interest investment	`IncomeLossFromEquityMethodInvestments`	$-160.00K	USD	Annual
Operating loss of minority interest investment	`IncomeLossFromEquityMethodInvestments`	$-478.00K	USD	Annual
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.00K	USD	Annual
Prepaid expenses, other current assets and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.00K	USD	Annual
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$-64.00K	USD	Annual
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$64.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$249.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.06M	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-103.00K	USD	Annual
Accrued clinical trial site costs	`IncreaseDecreaseInAccruedClinicalTrialSiteCosts`	$321.00K	USD	Annual
Accrued clinical trial site costs	`IncreaseDecreaseInAccruedClinicalTrialSiteCosts`	$1.68M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-360.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$36.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-261.00K	USD	Annual
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.38M	USD	Annual
Net cash used in continuing operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.32M	USD	Annual
Net cash used in discontinued operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-1.36M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.68M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.38M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	Annual
Security deposit on sublease	`PaymentsToSecurityDepositOnSublease`	$59.00K	USD	Annual
Security deposit received from expired lease	`ProceedsFromSecurityDepositReceivedFromExpiredLease`	$108.00K	USD	Annual
Proceeds from sale of minority interest investment in former subsidiary	`ProceedsFromSaleOfMinorityInterestInvestmentInFormerSubsidiary`	$500.00K	USD	Annual
Net cash provided by (used in) continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-8.00K	USD	Annual
Net cash provided by (used in) continuing investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$528.00K	USD	Annual
Net cash used in discontinued investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-172.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-180.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$528.00K	USD	Annual
Proceeds from sale of common stock and common stock warrants, net of costs	`ProceedsFromSaleOfCommonStockAndCommonStockWarrantsNetOfCosts`	$14.48M	USD	Annual
Proceeds from sale of common stock and common stock warrants, net of costs	`ProceedsFromSaleOfCommonStockAndCommonStockWarrantsNetOfCosts`	$16.30M	USD	Annual
Principal paid on finance lease liabilities	`FinanceLeasePrincipalPayments`	$2.00K	USD	Annual
Net cash provided by continuing financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.30M	USD	Annual
Net cash provided by continuing financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.48M	USD	Annual
Net cash provided by discontinued financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$1.52M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.83M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.48M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.96M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.37M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.14M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.14M	USD	Point-in-time
Accrued liability for cost of issuing common stock	`AccruedLiabilityForCostOfIssuingCommonStock`	$52.00K	USD	Annual
Warrants issued in connection with sale of common stock	`WarrantsIssuedInConnectionWithSaleOfCommonStock`	$582.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Less transaction costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$250.00K	USD	Annual
Less transaction costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$927.00K	USD	Annual
Balances at beginning	`StockholdersEquity`	$26.82M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$14.95M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$30.41M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$829.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$693.00K	USD	Annual
Issuance of restricted stock units under equity incentive plans	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$434.00K	USD	Annual
Issuance of restricted stock units under equity incentive plans	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$132.00K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$14.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.34M	USD	Annual
Net loss	`NetIncomeLoss`	$-30.77M	USD	Annual
Balances at ending	`StockholdersEquity`	$26.82M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$14.95M	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.