10-Q Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001628280-17-005423`
Period End Date	20170331
Filing Date	20170511
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	capn-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 32 Cash Flow Statement 57

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$133.00K	USD	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
Accounts receivable	`AccountsReceivableNetCurrent`	$110.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.48M	shares	Point-in-time
Inventory	`InventoryNet`	$855.00K	USD	Point-in-time
Inventory	`InventoryNet`	$660.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.79M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$261.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	16.79M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$247.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.48M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.80M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$103.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$93.00K	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`	$817.00K	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$21.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$126.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$126.00K	USD	Point-in-time
Total assets	`Assets`	$33.87M	USD	Point-in-time
Total assets	`Assets`	$5.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$935.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$538.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.17M	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.71M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$143.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.13M	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, 47,479,879 and 16,786,952 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively.	`CommonStockValue`	$17.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 47,479,879 and 16,786,952 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively.	`CommonStockValue`	$47.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$101.73M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$131.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-101.20M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.57M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$33.87M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueNet`	$447.00K	USD	1 Quarter
Product revenue	`SalesRevenueNet`	$265.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$209.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$461.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-14.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$56.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.77M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$994.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$538.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$114.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.94M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.25M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.27M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.21M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.26M	USD	1 Quarter
Interest Income	`InterestIncomeOther`	-	USD	1 Quarter
Interest Income	`InterestIncomeOther`	$1.00K	USD	1 Quarter
Change in fair value of warrants liabilities income (expense)	`FairValueAdjustmentOfWarrants`	$69.00K	USD	1 Quarter
Change in fair value of warrants liabilities income (expense)	`FairValueAdjustmentOfWarrants`	$-1.17M	USD	1 Quarter
Cease-use expense	`GainLossOnContractTermination`	$-7.00K	USD	1 Quarter
Cease-use expense	`GainLossOnContractTermination`	$-94.00K	USD	1 Quarter
Other expense	`OtherNonrecurringExpense`	$602.00K	USD	1 Quarter
Other expense	`OtherNonrecurringExpense`	$2.00K	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$-677.00K	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.89M	USD	1 Quarter
Net loss per share common share, basic and diluted (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-110.00	USD	1 Quarter
Net loss per share common share, basic and diluted (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-220.00	USD	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.80B	shares	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.85B	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$151.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$20.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$185.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$136.00K	USD	1 Quarter
Board fees paid with common stock	`OtherNoncashExpense`	-	USD	1 Quarter
Board fees paid with common stock	`OtherNoncashExpense`	$45.00K	USD	1 Quarter
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$-1.17M	USD	1 Quarter
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$69.00K	USD	1 Quarter
Non-cash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	-	USD	1 Quarter
Non-cash expense of issuing shares to Aspire Capital	`NoncashExpenseOnSharesIssued`	$602.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$19.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$5.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$31.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-23.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$102.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$195.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$49.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$627.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-175.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-317.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$46.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$72.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-37.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.18M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.98M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	Point-in-time
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.81M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$997.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.54M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.49M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.49M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Conversion of preferred stock to common stock	`ConversionOfStockAmountIssued1`	-	USD	1 Quarter
Conversion of preferred stock to common stock	`ConversionOfStockAmountIssued1`	$1.67M	USD	1 Quarter
Issuance of common stock in Essentialis acquisition	`StockIssued1`	-	USD	1 Quarter
Issuance of common stock in Essentialis acquisition	`StockIssued1`	$18.79M	USD	1 Quarter
Costs of Essentialis acquistions included in accounts payable	`NoncashorPartNoncashAcquisitionValueofAssetsAcquiredButNotYetPaid`	$572.00K	USD	1 Quarter
Costs of Essentialis acquistions included in accounts payable	`NoncashorPartNoncashAcquisitionValueofAssetsAcquiredButNotYetPaid`	-	USD	1 Quarter
Contingent consideration of Essentialis acquisition	`NoncashorPartNoncashAcquisitionContingentConsideration`	-	USD	1 Quarter
Contingent consideration of Essentialis acquisition	`NoncashorPartNoncashAcquisitionContingentConsideration`	$1.09M	USD	1 Quarter
Fixed asset purchases in accounts payable	`FairValueOfAssetsAcquired`	-	USD	1 Quarter
Fixed asset purchases in accounts payable	`FairValueOfAssetsAcquired`	-	USD	1 Quarter

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