10-K Filing

SOLENO THERAPEUTICS INC CIK: 1484565 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001564590-21-010569`
Period End Date	20201231
Filing Date	20210303
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	slno-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 23 Cash Flow Statement 51 Stockholders Equity 15

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
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`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.66M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	79.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	79.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.66M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.22M	USD	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`	$1.02M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.24M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$398.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$124.00K	USD	Point-in-time
Finance lease right-of-use assets	`FinanceLeaseRightOfUseAsset`	$24.00K	USD	Point-in-time
Finance lease right-of-use assets	`FinanceLeaseRightOfUseAsset`	$15.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$14.58M	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`	$38.17M	USD	Point-in-time
Total assets	`Assets`	$64.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.49M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$283.00K	USD	Point-in-time
Accrued clinical trial site costs	`AccruedClinicalTrialCostsCurrent`	$2.00M	USD	Point-in-time
Accrued clinical trial site costs	`AccruedClinicalTrialCostsCurrent`	$3.79M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$305.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$139.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$382.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$196.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.62M	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`	$10.28M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$147.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$23.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.43M	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, $0.001 par value, 250,000,000 and 100,000,000 shares authorized at December 31, 2020 and December 31, 2019, respectively, 79,615,692 and 44,658,054 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively.	`CommonStockValue`	$45.00K	USD	Point-in-time
Common stock, $0.001 par value, 250,000,000 and 100,000,000 shares authorized at December 31, 2020 and December 31, 2019, respectively, 79,615,692 and 44,658,054 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively.	`CommonStockValue`	$80.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$227.91M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$172.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-182.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-157.81M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$45.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.41M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.95M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$64.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$38.17M	USD	Point-in-time

Income Statement 23 line items

Line Item	Tag	Value	Unit	Period
Research and development	`ResearchAndDevelopmentExpense`	$16.27M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$23.19M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.93M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$8.76M	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$289.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$4.34M	USD	Annual
Total operating expenses	`OperatingExpenses`	$23.49M	USD	Annual
Total operating expenses	`OperatingExpenses`	$36.29M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-36.29M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-23.49M	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$6.96M	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-11.64M	USD	Annual
Loss from minority interest investment	`IncomeLossFromMinorityInterestInvestments`	$-478.00K	USD	Annual
Interest and other income	`OtherNonoperatingIncomeExpense`	$154.00K	USD	Annual
Interest and other income	`OtherNonoperatingIncomeExpense`	$13.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$11.65M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-7.29M	USD	Annual
Net loss	`NetIncomeLoss`	$-24.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-30.77M	USD	Annual
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.90	USD	Annual
Loss per common share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.39	USD	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	62.62M	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 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-24.64M	USD	Annual
Net loss	`ProfitLoss`	$-30.77M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.96M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.95M	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$283.00K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$386.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$1.50M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$825.00K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$6.96M	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$-11.64M	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$289.00K	USD	Annual
Change in fair value of contingent consideration	`AssetAcquisitionContingentConsiderationChangeInFairValue`	$4.34M	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`	$549.00K	USD	Annual
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$-64.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.49M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.06M	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$722.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$9.00K	USD	Annual
Accrued clinical trial site costs	`IncreaseDecreaseInAccruedClinicalTrialSiteCosts`	$1.68M	USD	Annual
Accrued clinical trial site costs	`IncreaseDecreaseInAccruedClinicalTrialSiteCosts`	$1.79M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-305.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-360.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-177.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$36.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.38M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.22M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	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 (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.00K	USD	Annual
Net cash (used in) provided by 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`	$53.72M	USD	Annual
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$17.00K	USD	Annual
Principal paid on finance lease liabilities	`FinanceLeasePrincipalPayments`	$2.00K	USD	Annual
Principal paid on finance lease liabilities	`FinanceLeasePrincipalPayments`	$17.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$53.72M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.48M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$28.49M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.37M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.22M	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`	$23.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.22M	USD	Point-in-time
Purchases of property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Less transaction costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$927.00K	USD	Annual
Less transaction costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$3.78M	USD	Annual
Balances at beginning	`StockholdersEquity`	$45.55M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$30.41M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$14.95M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.50M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$825.00K	USD	Annual
Issuance of restricted stock units under equity incentive plan	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$17.00K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$14.48M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$53.72M	USD	Annual
Net loss	`NetIncomeLoss`	$-24.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-30.77M	USD	Annual
Balances at ending	`StockholdersEquity`	$45.55M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$30.41M	USD	Point-in-time
Balances at ending	`StockholdersEquity`	$14.95M	USD	Point-in-time

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