Soleno Therapeutics (SLNO), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, has closed an underwritten public offering of 12,841,667 of its common stock shares, which includes 1,675,000 additional shares per the full exercise of the over-allotment option granted to the underwriters. According to the update, the offering resulted in gross proceeds of approximately $15.4 million to Soleno, with each of the shares sold at the public offering price of $1.20. Soleno intends to use the offering proceeds primarily for working capital and general corporate purposes. ROTH Capital Partners acted as co-manager for the offering.
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About Soleno Therapeutics, Inc.
Soleno is focused on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company’s lead candidate, Diazoxide Choline Controlled Release (“DCCR”) tablets, a once-daily oral tablet for the treatment of Prader-Willi Syndrome (“PWS”), is currently being evaluated in a Phase III clinical development program. For more information, please visit www.Soleno.life.
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