10-K Filing

SOLENO THERAPEUTICS INC CIK: 1484565 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001628280-16-013113`
Period End Date	20151231
Filing Date	20160325
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	capn-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 35 Cash Flow Statement 88 Stockholders Equity 24

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`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.02M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.02M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.77M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$156.13K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$20.00K	USD	Point-in-time
Inventory	`InventoryNet`	$109.34K	USD	Point-in-time
Inventory	`InventoryNet`	$551.01K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$167.64K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.27K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$85.75K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$57.61K	USD	Point-in-time
Goodwill	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Goodwill	`OtherAssetsNoncurrent`	$718.00K	USD	Point-in-time
Other intangible assets, net	`Goodwill`	$916.81K	USD	Point-in-time
Other intangible assets, net	`Goodwill`	-	USD	Point-in-time
Other assets	`OtherIntangibleAssetsNet`	-	USD	Point-in-time
Other assets	`OtherIntangibleAssetsNet`	$76.34K	USD	Point-in-time
Total assets	`Assets`	$8.20M	USD	Point-in-time
Total assets	`Assets`	$8.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$695.06K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$986.80K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$201.46K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.63M	USD	Point-in-time
Series B warrant liability	`DerivativeLiabilitiesCurrent`	$865.00K	USD	Point-in-time
Line of credit and accrued interest	`LinesOfCreditCurrent`	-	USD	Point-in-time
Line of credit and accrued interest	`LinesOfCreditCurrent`	$101.53K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.29M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$109.40K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 14,017,909 and 6,769,106 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively.	`CommonStockValue`	$14.02K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 14,017,909 and 6,769,106 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively.	`CommonStockValue`	$6.77K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$89.46M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$59.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-86.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-70.34M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-34.20M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$3.22M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$8.20M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$8.40M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	-	USD	Annual
Product revenue	`SalesRevenueGoodsNet`	$387.56K	USD	Annual
Government grant revenue	`RevenueFromGrants`	$219.92K	USD	Annual
Total revenue	`Revenues`	$607.47K	USD	Annual
Total revenue	`Revenues`	-	USD	Annual
Cost of goods sold	`CostOfRevenue`	$352.68K	USD	Annual
Cost of goods sold	`CostOfRevenue`	-	USD	Annual
Gross profit	`GrossProfit`	$254.79K	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.54M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$252.36K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.74M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.67M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.14M	USD	Annual
Total expenses	`OperatingExpenses`	$5.16M	USD	Annual
Total expenses	`OperatingExpenses`	$12.41M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-5.16M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-12.16M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.08K	USD	Annual
Interest income	`InvestmentIncomeInterest`	-	USD	Annual
Other expense	`OtherNonrecurringExpense`	$183.56K	USD	Annual
Other expense	`OtherNonrecurringExpense`	$7.24K	USD	Annual
Interest expense	`InterestExpense`	$4.13M	USD	Annual
Interest expense	`InterestExpense`	-	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$3.94M	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$515.86K	USD	Annual
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	Annual
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-15.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-10.42	USD	Annual
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.69	USD	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.27M	shares	Annual
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.43M	shares	Annual

Cash Flow Statement 88 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$28.52K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$108.23K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$942.37K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$345.44K	USD	Annual
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.73K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$3.94M	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$515.86K	USD	Annual
Non-cash interest expense relating to convertible promissory notes & amortization of discount on notes	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Non-cash interest expense relating to convertible promissory notes & amortization of discount on notes	`AmortizationOfDebtDiscountPremium`	$4.13M	USD	Annual
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	$3.05M	USD	Annual
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	-	USD	Annual
Noncash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	-	USD	Annual
Noncash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	$183.32K	USD	Annual
Non-cash interest expense relating to line of credit	`LineOfCreditFacilityPeriodicPaymentInterest`	-	USD	Annual
Non-cash interest expense relating to line of credit	`LineOfCreditFacilityPeriodicPaymentInterest`	$1.53K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$156.13K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-149.60K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$109.34K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$441.67K	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-84.63K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$167.12K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$76.34K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$353.90K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$211.94K	USD	Annual
Accrued compensation & other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.19M	USD	Annual
Accrued compensation & other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$72.81K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.48M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.30M	USD	Annual
Acquisition of Neoforce assets	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$1.00M	USD	Annual
Acquisition of Neoforce assets	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	Annual
Acquisition of BDDI asset (patent)	`PaymentsToAcquireIntangibleAssets`	$250.00K	USD	Annual
Acquisition of BDDI asset (patent)	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	$15.00K	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.68K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.78K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.68K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.32M	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$293.57K	USD	Annual
Proceeds from issuance of common stock to Aspire Capital	`ProceedsFromIssuanceOfCommonStock`	$1.43M	USD	Annual
Proceeds from issuance of common stock to Aspire Capital	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of Series A Convertible Preferred	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$4.23M	USD	Annual
Proceeds from issuance of Series A Convertible Preferred	`ProceedsFromIssuanceOfConvertiblePreferredStock`	-	USD	Annual
Repayment of credit line	`RepaymentsOfLinesOfCredit`	$101.53K	USD	Annual
Repayment of credit line	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Proceeds from issuance of preferred stock warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	$1.95K	USD	Annual
Proceeds from issuance of preferred stock warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	-	USD	Annual
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$2.49M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$100.00K	USD	Annual
Proceeds from Initial Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from Initial Public Offering	`ProceedsFromIssuanceInitialPublicOffering`	$10.73M	USD	Annual
Initial Public Offering costs paid	`PaymentsOfStockIssuanceCosts`	$575.18K	USD	Annual
Initial Public Offering costs paid	`PaymentsOfStockIssuanceCosts`	$2.12M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.20M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.16M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.69M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.46M	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Series A preferred convertible stock transaction costs included in Accounts Payable	`TransactionCostsIncludedinAccountsPayable`	-	USD	Annual
Series A preferred convertible stock transaction costs included in Accounts Payable	`TransactionCostsIncludedinAccountsPayable`	$71.49K	USD	Annual
BDDI patent purchase consideration included in accrued liabilities	`BusinessCombinationConsiderationTransferredContingentConsiderationAccrued`	$200.00K	USD	Annual
BDDI patent purchase consideration included in accrued liabilities	`BusinessCombinationConsiderationTransferredContingentConsiderationAccrued`	-	USD	Annual
Shares issued as consideration for BDDI patent purchase	`StockIssued1`	$112.40K	USD	Annual
Shares issued as consideration for BDDI patent purchase	`StockIssued1`	-	USD	Annual
Cashless exercise of 2010 and 2012 warrants	`NoncashTransactionExerciseofWarrants`	$13.00	USD	Annual
Cashless exercise of 2010 and 2012 warrants	`NoncashTransactionExerciseofWarrants`	-	USD	Annual
Contribution of Series B warrants	`ContributionofWarrants`	-	USD	Annual
Contribution of Series B warrants	`ContributionofWarrants`	$3.33K	USD	Annual
Initial Public Offering costs accrued and included in Accounts Payable	`InitialPublicOfferingCostsIncludedInAccountsPayable`	$575.18K	USD	Annual
Initial Public Offering costs accrued and included in Accounts Payable	`InitialPublicOfferingCostsIncludedInAccountsPayable`	-	USD	Annual
Beneficial conversion feature related to the warrants to purchase shares of convertible preferred stock in connection with convertible promissory notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	$1.72M	USD	Annual
Beneficial conversion feature related to the warrants to purchase shares of convertible preferred stock in connection with convertible promissory notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	Annual
Issuance of warrants for the purchase of convertible preferred stock in connection with notes payable	`IssuanceOfWarrantsInConnectionWithNotesPayable`	-	USD	Annual
Issuance of warrants for the purchase of convertible preferred stock in connection with notes payable	`IssuanceOfWarrantsInConnectionWithNotesPayable`	$966.98K	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Issuance of common stock in IPO, discounts & commission	`DiscountAndCommissionOnIssuanceOfShares`	$861.95K	USD	Annual
Balances at beginning	`StockholdersEquity`	$-34.20M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$3.22M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$942.37K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$345.44K	USD	Annual
Conversion of preferred stock to common stock in IPO	`ConversionOfStockAmountIssued1`	$23.81M	USD	Annual
Stock warrant liability reclassification	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$1.22M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$293.57K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$9.85M	USD	Annual
Beneficial conversion feature in connection with related party convertible promissory notes	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$1.72M	USD	Annual
Deferred IPO costs	`AdjustmentstoAdditionalPaidinCapitalStockIssuedDeferredIssuanceCosts`	$1.83M	USD	Annual
Contribution of Series B warrants	`AdjustmentstoAdditionalPaidinCapitalWarrantsContributed`	$3.33K	USD	Annual
Issuance of shares in conjunction with BDDI asset purchase	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$112.40K	USD	Annual
Issuance of shares in conjunction with BDDI asset purchase (shares)	`StockIssuedDuringPeriodSharesPurchaseOfAssets`	10,000.00	shares	Point-in-time
Issuance of shares in conjunction with BDDI asset purchase (shares)	`StockIssuedDuringPeriodSharesPurchaseOfAssets`	40,000.00	shares	Point-in-time
Issuance of shares to Aspire Capital	`StockIssuedDuringPeriodValueAcquisitions`	$183.32K	USD	Annual
Sales of shares through Aspire ATM vehicle	`StockIssuedDuringPeriodValueNewIssuesUnderTheAtTheMarketProgram`	$1.43M	USD	Annual
Issuance of Series A Convertible Preferred shares(net of transaction costs of $396,343)	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$4.16M	USD	Annual
Net loss	`NetIncomeLoss`	$-15.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.24M	USD	Annual
Balances at end	`StockholdersEquity`	$-34.20M	USD	Point-in-time
Balances at end	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Balances at end	`StockholdersEquity`	$3.22M	USD	Point-in-time

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