October 4, 2023
REDWOOD CITY, California, Sept. 26, 2023 (GLOBE NEWSWIRE) — September 26, 2023 – FLG Partner client, Soleno Therapeutics, Inc. (Soleno) (NASDAQ: SLNO), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, has announced positive top-line results from the randomized withdrawal period of Study C602, a long-term treatment study of DCCR (Diazoxide Choline) Extended-Release tablets for the treatment of Prader-Willi syndrome (PWS). Prader-Willi Syndrome Association USA estimates that PWS occurs in one in every 15,000 live births. There are currently no approved therapies to treat the hyperphagia/appetite, metabolic, cognitive function, or behavioral aspects of the disorder.Soleno Therapeutics intends to submit a new drug application for DCCR in PWS Mid-Year 2024.
Following the announcement, Interim CFO and FLG partner Jim Mackaness reported that Soleno’s market cap increased from $120 Million to over $1.4 Billion.
Full press release is here.