10-K Filing

SOLENO THERAPEUTICS INC CIK: 1484565 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001628280-17-002603`
Period End Date	20161231
Filing Date	20170315
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	capn-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 44 Cash Flow Statement 72 Stockholders Equity 20

Balance Sheet 58 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`	16.79M	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`	16.79M	shares	Point-in-time
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$133.34K	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`	$35.00K	USD	Point-in-time
Inventory	`InventoryNet`	$660.39K	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`	$246.57K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.80M	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`	$102.56K	USD	Point-in-time
Goodwill	`OtherAssetsNoncurrent`	$718.00K	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`	$817.47K	USD	Point-in-time
Other assets	`OtherIntangibleAssetsNet`	$76.34K	USD	Point-in-time
Other assets	`OtherIntangibleAssetsNet`	$125.53K	USD	Point-in-time
Total assets	`Assets`	$8.20M	USD	Point-in-time
Total assets	`Assets`	$5.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$537.89K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$695.06K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.63M	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.71M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$142.74K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$109.40K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.98M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 16,786,952 and 14,017,909 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$14.02K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 16,786,952 and 14,017,909 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$16.79K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$101.73M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$89.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-86.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.44M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.56M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.20M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$1.45M	USD	Annual
Product revenue	`SalesRevenueGoodsNet`	$387.56K	USD	Annual
Government grant revenue	`RevenueFromGrants`	-	USD	Annual
Government grant revenue	`RevenueFromGrants`	$219.92K	USD	Annual
Total revenue	`Revenues`	$607.47K	USD	Annual
Total revenue	`Revenues`	$1.45M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$1.51M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$352.68K	USD	Annual
Gross profit	`GrossProfit`	$254.79K	USD	Annual
Gross profit	`GrossProfit`	$-58.52K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.54M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.18M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.74M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.63M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.14M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$6.74M	USD	Annual
Total expenses	`OperatingExpenses`	$12.41M	USD	Annual
Total expenses	`OperatingExpenses`	$13.55M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-12.16M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-13.61M	USD	Annual
Other expense	`OtherNonrecurringExpense`	$6.77K	USD	Annual
Other expense	`OtherNonrecurringExpense`	$183.56K	USD	Annual
Cease-use expense	`GainLossOnContractTermination`	-	USD	Annual
Cease-use expense	`GainLossOnContractTermination`	$-93.75K	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$515.86K	USD	Annual
Change in fair value of warrants liabilities	`FairValueAdjustmentOfWarrants`	$-1.67M	USD	Annual
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	-	USD	Annual
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.57M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-3.75M	USD	Annual
Loss before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.04M	USD	Annual
Loss before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.91M	USD	Annual
Provision for deferred taxes	`IncomeTaxExpenseBenefit`	$21.70K	USD	Annual
Provision for deferred taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-15.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-12.07M	USD	Annual
Loss on extinguishment of convertible preferred stock	`PreferredStockDividendsAndOtherAdjustments`	$3.65M	USD	Annual
Loss on extinguishment of convertible preferred stock	`PreferredStockDividendsAndOtherAdjustments`	-	USD	Annual
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.91M	USD	Annual
Net loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-15.72M	USD	Annual
Basic and diluted net loss per share applicable to common stockholders (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.01	USD	Annual
Basic and diluted net loss per share applicable to common stockholders (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`	15.51M	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 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-12.07M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$131.64K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$108.23K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$871.27K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$942.37K	USD	Annual
Board fees paid with common stock	`OtherNoncashExpense`	$24.40K	USD	Annual
Board fees paid with common stock	`OtherNoncashExpense`	-	USD	Annual
Provision for deferred taxes	`IncomeTaxExpenseBenefit`	$21.70K	USD	Annual
Provision for deferred taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$515.86K	USD	Annual
Change in fair value of stock warrants	`FairValueAdjustmentOfWarrants`	$-1.67M	USD	Annual
Loss on disposition of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-768.00	USD	Annual
Loss on disposition of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	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`	$183.32K	USD	Annual
Noncash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-22.79K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$156.13K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$109.38K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$441.67K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$78.93K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-84.63K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$76.34K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$49.19K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-149.16K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$211.94K	USD	Annual
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.19M	USD	Annual
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-463.19K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$11.63K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.30M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.50M	USD	Annual
Acquisition of Neoforce assets	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	Annual
Acquisition of Neoforce assets	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$1.00M	USD	Annual
Acquisition of BDDI asset (patent)	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Acquisition of BDDI asset (patent)	`PaymentsToAcquireIntangibleAssets`	$250.00K	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	$15.00K	USD	Annual
Increase in restricted cash	`IncreaseInRestrictedCash`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.68K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$55.78K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.32M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.68K	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$293.57K	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$70.10K	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
Repayment of credit line	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Repayment of credit line	`RepaymentsOfLinesOfCredit`	$101.53K	USD	Annual
Initial Public Offering costs paid	`PaymentsOfStockIssuanceCosts`	$575.18K	USD	Annual
Initial Public Offering costs paid	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.77M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.16M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.46M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.77M	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Fixed asset purchases included in Accounts Payable	`FairValueOfAssetsAcquired`	-	USD	Annual
Fixed asset purchases included in Accounts Payable	`FairValueOfAssetsAcquired`	$11.20K	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`	-	USD	Annual
Cashless exercise of 2010 and 2012 warrants	`NoncashTransactionExerciseofWarrants`	$13.00	USD	Annual
Contribution of Series B warrants	`ContributionofWarrants`	$3.33K	USD	Annual
Contribution of Series B warrants	`ContributionofWarrants`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balances at beginning	`StockholdersEquity`	$3.22M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Balances at beginning	`StockholdersEquity`	$3.44M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$871.27K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$942.37K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$293.57K	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$70.10K	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`	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 Convertible Preferred shares (net of transaction costs)	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$4.16M	USD	Annual
Repurchase of Series A Convertible Preferred shares	`StockRepurchasedDuringPeriodValue`	$7.78M	USD	Annual
Issuance of common stock to board members in lieu of cash payments for quarterly board fees	`StockIssuedDuringPeriodValueIssuedForServices`	$24.41K	USD	Annual
Net loss	`NetIncomeLoss`	$-15.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-12.07M	USD	Annual
Balances at end	`StockholdersEquity`	$3.22M	USD	Point-in-time
Balances at end	`StockholdersEquity`	$-11.19M	USD	Point-in-time
Balances at end	`StockholdersEquity`	$3.44M	USD	Point-in-time

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