Soleno Therapeutics ( (SLNO) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Soleno Therapeutics’ stock has been on the rise following the announcement of its Q1 earnings report, which revealed the U.S. FDA approval and launch of its first commercial product, VYKAT XR, for Prader-Willi syndrome. This significant milestone has generated positive market interest, with 268 patient start forms and 131 unique prescribers already in place. Although the company reported a net loss of $43.8 million for the quarter and has not yet generated revenue from VYKAT XR, its strong cash position of $290 million supports ongoing commercial and development efforts. The company’s plans to expand VYKAT XR’s market reach, including seeking marketing authorization in Europe, have likely bolstered analysts’ positive outlook on the stock, anticipating future revenue growth.
More about Soleno Therapeutics
YTD Price Performance: 63.33%
Average Trading Volume: 1,283,455
Technical Sentiment Signal: Buy
Current Market Cap: $3.68B
For further insights into SLNO stock on TipRanks’ Stock Analysis page.
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