Solen Therapeutics Files 2024 10-K

TL;DR

Solen Therapeutics filed its 2024 10-K, check financials and Oxford Financing deal.

AI Summary

Solen Therapeutics Inc. filed its 2024 10-K on February 28, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly known as Capnia, Inc., is based in Redwood City, CA. The filing details financial information and business operations, including references to a loan and security agreement with Oxford Financing LLC and its affiliates dated December 17, 2024.

Why It Matters

This filing provides a comprehensive overview of Solen Therapeutics' financial health and strategic direction for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but specific details about the company's financial performance and any new agreements could introduce medium-level risk.

Key Numbers

• 2024-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2025-02-28 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• SOLENO THERAPEUTICS INC (company) — Filer
• Capnia, Inc. (company) — Former company name
• REDWOOD CITY (location) — Business Address City
• Oxford Financing LLC (company) — Party to Loan and Security Agreement
• 2024-12-17 (date) — Date of Loan and Security Agreement
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-28 (date) — Filing Date

FAQ

From the Filing

0000950170-25-029545.txt : 20250228 0000950170-25-029545.hdr.sgml : 20250228 20250228092242 ACCESSION NUMBER: 0000950170-25-029545 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 88 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250228 DATE AS OF CHANGE: 20250228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLENO THERAPEUTICS INC CENTRAL INDEX KEY: 0001484565 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 770523891 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36593 FILM NUMBER: 25683231 BUSINESS ADDRESS: STREET 1: 100 MARINE PARKWAY, SUITE 400 CITY: REDWOOD CITY STATE: CA ZIP: 94065 BUSINESS PHONE: 650-213-8444 MAIL ADDRESS: STREET 1: 100 MARINE PARKWAY, SUITE 400 CITY: REDWOOD CITY STATE: CA ZIP: 94065 FORMER COMPANY: FORMER CONFORMED NAME: Capnia, Inc. DATE OF NAME CHANGE: 20100219 10-K 1 slno-20241231.htm 10-K 10-K 0001484565 FY false SOLENO THERAPEUTICS INC 3 http://fasb.org/us-gaap/2024#FairValueAdjustmentOfWarrants http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityCurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrent http://fasb.org/us-gaap/2024#OperatingLeaseLiabilityNoncurrent P5Y http://fasb.org/srt/2024#ChiefExecutiveOfficerMember 0001484565 us-gaap:MoneyMarketFundsMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001484565 slno:PurchasePriceContingentLiabilityMember 2023-12-31 0001484565 2023-12-31 0001484565 us-gaap:ShareBasedCompensationAwardTrancheOneMember 2022-12-16 0001484565 slno:LoanAndSecurityAgreementMember slno:OxfordFinancingLLCAndItsAffiliatesMember 2024-12-17 0001484565 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001484565 us-gaap:ComputerEquipmentMember 2024-12-31 0001484565 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0001484565 slno:MayTwoThousandTwentyThreeTrancheBPreFundedExchangeWarrantsMember 2023-01-01 2023-12-31 0001484565 slno:LoanAndSecurityAgreementMember srt:MinimumMember slno:OxfordFinancingLLCAndItsAffiliatesMember 2024-12-31 0001484565 slno:TwoThousandAndFourteenEquityIncentivePlanMember us-gaap:EmployeeStockOptionMember 2024-01-17 0001484565 slno:MarchTwoThousandTwentyTwoCommonWarrantsMember 2022-12-31 0001484565 us-gaap:EmployeeStockOptionMember slno:TwoThousandAndFourteenEquityIncentivePlanAndTwoThousandTwentyInducementEquityIncentivePlanMember 2023-01-01 2023-12-31 0001484565 slno:PerformanceBasedRestrictedStockUnitsMember 2024-01-01 2024-12-31 0001484565 us-gaap:HerMajestysRevenueAndCustomsHMRCMember us-gaap:ForeignCountryMember 2024-12-31 0001484565 slno:CommonStockWarrantsMember 2024-01-01 2024-12-31 0001484565 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-12-31 0001484565 us-gaap:CommonStockMember 2024-12-31 0001484565 us-gaap:EmployeeStockOptionMember slno:TwoThousandAndFourteenEquityIncentivePlanAndTwoThousandTwentyInducementEquityIncentivePlanMember 2023-12-31 0001484565 us-gaap:ResearchAndDevelopmentExpenseMember 2022-01-01 2022-12-31 0001484565 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001484565 slno:MayTwoThousandTwentyThreeTrancheAPreFundedWarrantsMember 2023-12-31 0001484565 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2024-12-31 0001484565 slno:UnderwriterMember 2023-01-01 2023-12-31 0001484565 us-gaap:ResearchAndDevelopmentExpenseMember 2024-01-01 2024-12-31 0001484565 2022-12-31 0001484565 slno:TwoThousandAndFourteenEquityIncentivePlanMember us-gaap:EmployeeStockOptionMember srt:MinimumMember 2024-01-01 2024-12-31 0001484565 us-gaap:ConvertibleDebtSecuritiesMember 2022-01-01 2022-12-31 0001484565 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-12-31 0001484565 us-gaap:RetainedEa