Perceptive Advisors Amends Soleno Therapeutics Stake
Ticker: SLNO · Form: SC 13D/A · Filed: 2024-11-19T00:00:00.000Z
Sentiment: neutral
Topics: 13D-filing, ownership-change, activist-investor
Related Tickers: SLNO
TL;DR
Perceptive Advisors filed an amendment on their Soleno Therapeutics stake. Watch this space.
AI Summary
On November 19, 2024, Perceptive Advisors LLC, through its fund Perceptive Life Sciences Master Fund, Ltd., filed an amendment (No. 8) to its Schedule 13D regarding Soleno Therapeutics, Inc. The filing indicates a change in beneficial ownership, with Joseph Edelman also listed as a group member. The filing pertains to Soleno Therapeutics, Inc., a company incorporated in Delaware with its principal business address in Redwood City, CA.
Why It Matters
This filing signals a potential shift in control or strategy for Soleno Therapeutics, as a significant investor has updated its ownership disclosure.
Risk Assessment
Risk Level: medium — Schedule 13D/A filings often indicate significant investor activity, which can lead to volatility and strategic changes in the company.
Key Numbers
- 8 — Amendment Number (Indicates this is the eighth update to the filing.)
Key Players & Entities
- Perceptive Advisors LLC (company) — Filing entity
- Perceptive Life Sciences Master Fund, Ltd. (company) — Group member
- Joseph Edelman (person) — Group member
- Soleno Therapeutics, Inc. (company) — Subject company
- Alexander Rakitin (person) — Authorized to receive notice
FAQ
What specific changes in beneficial ownership are detailed in this Amendment No. 8?
The filing does not specify the exact percentage or number of shares changed in this amendment, only that it is an amendment to the Schedule 13D.
Who is Joseph Edelman and what is his relationship to Perceptive Advisors LLC in this filing?
Joseph Edelman is listed as a group member alongside Perceptive Advisors LLC and Perceptive Life Sciences Master Fund, Ltd., suggesting a coordinated action or shared interest.
What is the primary business of Soleno Therapeutics, Inc.?
Soleno Therapeutics, Inc. is classified under 'ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS' with SIC code 3845.
When was the previous filing for this Schedule 13D made?
The filing date of this amendment is November 19, 2024, but the date of the previous filing is not explicitly stated in this document excerpt.
What is the significance of listing 'GROUP MEMBERS' in a Schedule 13D filing?
Listing group members indicates that the reporting persons are acting as a group in acquiring, holding, or disposing of securities, and their holdings are aggregated.
Filing Stats: 1,280 words · 5 min read · ~4 pages · Grade level 6.1 · Accepted 2024-11-19 21:44:27
Key Financial Figures
- $0.001 — Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class o
Filing Documents
- d790258dsc13da.htm (SC 13D/A) — 79KB
- 0001193125-24-261952.txt ( ) — 81KB
of the Schedule 13D is amended and supplemented as follows
Item 5 of the Schedule 13D is amended and supplemented as follows: (a) The information set forth in rows 11 and 13 of the cover pages to this Amendment No. 8 to Schedule 13D is incorporated by reference and assumes the exercise of pre-funded warrants held by the Reporting Persons to purchase 250,000 shares of the Issuers Common Stock (the Pre-Funded Warrants). The percentage set forth in row 13 is based on 43,117,432 shares of Common Stock outstanding as of October 31, 2024, as reported by the Issuer in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 6, 2024, and assumes the exercise of the Pre-Funded Warrants. (b) The information set forth in rows 7 through 10 of the cover pages to this Amendment No. 8 to Schedule 13D is incorporated by reference and assumes the exercise of the Pre-Funded Warrants. (c) Except as set forth on Schedule A , as amended and restated with this Amendment No. 8, no Reporting Person has effected any transaction in shares of Common Stock in the past sixty days. (e) On November 14, 2024, the Reporting Persons ceased being holders of 5% or more of the outstanding shares of the Issuers Common Stock.
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: November 19, 2024 PERCEPTIVE ADVISORS LLC By: /s/ Joseph Edelman Name: Joseph Edelman Title: Managing Member PERCEPTIVE LIFE SCIENCES MASTER FUND, LTD. By: /s/ Joseph Edelman Name: Joseph Edelman Title: Managing Member /s/ Joseph Edelman JOSEPH EDELMAN Schedule A Fund Date Transaction Number of shares Price Perceptive Life Sciences Master Fund, Ltd. 9/23/2024 Sell 16,717 $ 48.42 Perceptive Life Sciences Master Fund, Ltd. 9/24/2024 Short Sale 75,000 $ 47.27 Perceptive Life Sciences Master Fund, Ltd. 9/25/2024 Short Sale 37,233 $ 45.50 Perceptive Life Sciences Master Fund, Ltd. 10/01/2024 Short Sale 44,485 $ 49.45 Perceptive Life Sciences Master Fund, Ltd. 10/02/2024 Short Sale 36,315 $ 49.98 Perceptive Life Sciences Master Fund, Ltd. 10/03/2024 Short Sale 25,000 $ 49.19 Perceptive Life Sciences Master Fund, Ltd. 10/04/2024 Short Sale 50,000 $ 49.53 Perceptive Life Sciences Master Fund, Ltd. 10/07/2024 Short Sale 33,446 $ 48.12 Perceptive Life Sciences Master Fund, Ltd. 10/08/2024 Short Sale 50,000 $ 51.13 Perceptive Life Sciences Master Fund, Ltd. 10/08/2024 Short Sale 50,000 $ 56.07 Perceptive Life Sciences Master Fund, Ltd. 10/08/2024 Short Sale 50,000 $ 53.13 Perceptive Life Sciences Master Fund, Ltd. 10/08/2024 Short Sale 50,000 $ 55.33 Perceptive Life Sciences Master Fund, Ltd. 10/09/2024 Sell (options) 5,000 $ 3.80 Perceptive Life Sciences Master Fund, Ltd. 10/16/2024 Short Sale 37,493 $ 54.53 Perceptive Life Sciences Master Fund, Ltd. 10/17/2024 Short Sale 65,007 $ 53.44 Perceptive Life Sciences Master Fund, Ltd. 10/21/2024 Short Sale 9,841 $ 53.32 Perceptive Life Sciences Master Fund, Ltd.