Soleno Therapeutics ( (SLNO) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Soleno Therapeutics’ stock experienced a significant increase due to the trial failure of Acadia Pharmaceuticals, eliminating a near-term competitor for Soleno’s Vykat XR in treating Prader-Willi Syndrome. This development, coupled with analysts’ optimistic views on Vykat XR’s market potential and expansion plans, has contributed to a positive outlook for Soleno’s shares. Additionally, the company’s clarification that serious adverse events reported in the FDA’s database were not linked to Vykat XR has further bolstered investor confidence.
More about Soleno Therapeutics
YTD Price Performance: 24.37%
Average Trading Volume: 1,749,739
Technical Sentiment Signal: Buy
Current Market Cap: $3.01B
For further insights into SLNO stock on TipRanks’ Stock Analysis page.
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