Securities Arbitration Lawyers BlogSoleno Therapeutics, Inc. (SLNO) Subject Of Investigation
Soleno Therapeutics, Inc. (SLNO) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.
If you have losses from investing in Soleno Therapeutics, Inc. (SLNO), contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com.
Soleno Therapeutics, formerly known as Capnia Inc., is a clinical stage biopharmaceuticals company that is trying to develop drugs to treat rare diseases. The company’s leading candidate is called Diazoxide Choline Controlled Release (DCCR), which treats Prader-Willi Syndrome (PWS).
Soleno Press Release Sends Stock Lower
On March 8, 2021, Soleno put out a press release about the company’s additional analyses submitted to the U.S. Food and Drug Administration (FDA) related to the company’s phase 3 trial for DCCR.
The press release stated “The data analyses showed statistically significant changes for DCCR compared to placebo in the primary and key secondary endpoints. Following its review of the data submitted by Soleno, the FDA informed the Company on March 5, 2021 that an additional controlled clinical trial will be necessary to support an NDA submission for DCCR in PWS.”
The day the press release came out, Soleno’s stock price fell almost 49%, causing significant losses for investors in the company’s stock.
Public Offering Raises $14.5 Million
In October, 2019, Soleno Therapeutics announced an underwritten public offering of almost 13 million shares that raised $14.5 million. The offering listed Oppenheimer & Co. as the sold book-running manager, with Roth Capital Partners and Laidlaw & Company (UK) Ltd. as co-managers.
Recover Soleno Therapeutics, Inc. (SLNO) Investment Losses
Silver Law Group is a nationally-recognized class action law firm representing victims of investment fraud. Our attorneys represent investors in class action lawsuits against issuers in state or federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct.
Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Contact us for a consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.