H.C. Wainwright initiated coverage of Soleno Therapeutics with a Buy rating and $70 price target. Soleno has successfully advanced its lead clinical-stage candidate, diazoxide choline extended-release tablets, through multiple trials in patients suffering from Prader-Willi Syndrome, a rare genetic condition that affects metabolic, endocrine and neurological systems, the analyst tells investors in a research note. The firm expects the FDA panel outcome to be highly supportive of diazoxide choline approval, and expects Soleno to start generating revenue in the first half of 2025.
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