10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001628280-16-018997`
Period End Date	20160630
Filing Date	20160812
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	capn-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 76 Cash Flow Statement 68

Balance Sheet 52 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`	15.76M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.02M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.02M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$288.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$156.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Inventory	`InventoryNet`	$774.00K	USD	Point-in-time
Inventory	`InventoryNet`	$551.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$167.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$157.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$86.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$118.00K	USD	Point-in-time
Goodwill	`Goodwill`	$718.00K	USD	Point-in-time
Goodwill	`Goodwill`	$718.00K	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$867.00K	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$917.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$76.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$76.00K	USD	Point-in-time
Total assets	`Assets`	$8.20M	USD	Point-in-time
Total assets	`Assets`	$5.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$695.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$957.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$944.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$200.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$109.00K	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, $0.001 par value, 100,000,000 shares authorized, 15,761,530 and 14,017,909 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$15.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 15,761,530 and 14,017,909 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$89.46M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$95.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-86.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-92.95M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.22M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.20M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.54M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$119.00K	USD	2 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$97.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$838.00K	USD	2 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$391.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$428.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$889.00K	USD	2 Qtrs
Cost of product revenue	`CostOfRevenue`	$22.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$40.00K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-51.00K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-37.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$75.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$79.00K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.33M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.10M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.18M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.06M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$1.11M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$577.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$772.00K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$506.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.45M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.51M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.72M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.43M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.12M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$7.66M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$3.41M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.55M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.04M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-3.45M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.71M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-5.47M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	-	USD	1 Quarter
Interest expense, net	`InterestExpense`	-	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$1.00K	USD	2 Qtrs
Interest expense, net	`InterestExpense`	-	USD	1 Quarter
Change in fair value of warrants liabilities (expense)	`FairValueAdjustmentOfWarrants`	$1.25M	USD	2 Qtrs
Change in fair value of warrants liabilities (expense)	`FairValueAdjustmentOfWarrants`	$-1.12M	USD	2 Qtrs
Change in fair value of warrants liabilities (expense)	`FairValueAdjustmentOfWarrants`	$47.00K	USD	1 Quarter
Change in fair value of warrants liabilities (expense)	`FairValueAdjustmentOfWarrants`	$-4.92M	USD	1 Quarter
Cease-use expense	`GainLossOnContractTermination`	$-94.00K	USD	2 Qtrs
Cease-use expense	`GainLossOnContractTermination`	-	USD	1 Quarter
Cease-use expense	`GainLossOnContractTermination`	-	USD	2 Qtrs
Cease-use expense	`GainLossOnContractTermination`	-	USD	1 Quarter
Other expense	`OtherNonrecurringExpense`	$16.00K	USD	1 Quarter
Other expense	`OtherNonrecurringExpense`	-	USD	2 Qtrs
Other expense	`OtherNonrecurringExpense`	$18.00K	USD	2 Qtrs
Other expense	`OtherNonrecurringExpense`	-	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	-	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	2 Qtrs
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	-	USD	2 Qtrs
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	-	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$-63.00K	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.30M	USD	2 Qtrs
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$4.92M	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-9.77M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-6.70M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.44	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.35	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.25	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.35	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.44	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.53M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.52M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.24M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.16M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.63M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.16M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.53M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.24M	shares	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.77M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.70M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$55.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$31.00K	USD	2 Qtrs
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00K	USD	2 Qtrs
Loss on disposition of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$201.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$602.00K	USD	2 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$354.00K	USD	2 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$218.00K	USD	1 Quarter
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$-1.12M	USD	2 Qtrs
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$1.25M	USD	2 Qtrs
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	$3.05M	USD	2 Qtrs
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	-	USD	2 Qtrs
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$27.00K	USD	2 Qtrs
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$132.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$223.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$169.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$59.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$334.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$401.00K	USD	2 Qtrs
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-689.00K	USD	2 Qtrs
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$617.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$64.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.02M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.06M	USD	2 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Increase in restricted cash	`IncreaseDecreaseInRestrictedCash`	$15.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.00K	USD	2 Qtrs
Proceeds from sale of Series A preferred convertible stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	-	USD	2 Qtrs
Proceeds from sale of Series A preferred convertible stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$5.07M	USD	2 Qtrs
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	$530.00K	USD	2 Qtrs
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$294.00K	USD	2 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$70.00K	USD	2 Qtrs
Repayment of credit line	`RepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Repayment of credit line	`RepaymentsOfLinesOfCredit`	$102.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.66M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.07M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-427.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.99M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.50M	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`	$5.50M	USD	Point-in-time
Conversion of Series A preferred to common stock	`ConversionOfStockAmountIssued1`	$2.22M	USD	2 Qtrs
Conversion of Series A preferred to common stock	`ConversionOfStockAmountIssued1`	-	USD	2 Qtrs
Patent costs included in Accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$450.00K	USD	2 Qtrs
Patent costs included in Accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	2 Qtrs
Stock issuable in consideration for Patent purchase	`StockIssued1`	-	USD	2 Qtrs
Stock issuable in consideration for Patent purchase	`StockIssued1`	$112.00K	USD	2 Qtrs
Reduction in initial public offering costs payable	`ReductionInInitialPublicOfferingCostsPayable`	-	USD	2 Qtrs
Reduction in initial public offering costs payable	`ReductionInInitialPublicOfferingCostsPayable`	$45.00K	USD	2 Qtrs
Cashless exercise of 2010/2012 warrants	`NoncashTransactionExerciseofWarrants`	$13.00K	USD	2 Qtrs
Cashless exercise of 2010/2012 warrants	`NoncashTransactionExerciseofWarrants`	-	USD	2 Qtrs

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