Soleno Therapeutics has achieved a 9 out of 9 Piotroski F-Score with 34% net margins and a 26% return on equity following the commercial launch of VYKAT XR, but the stock is overbought at an RSI of 93 and is trading above analyst targets, creating high downside risk to valuation.
Thesis pillars
- Elite Piotroski Commercial Launch→Stable
- Overbought At Rsi 93→Stable
- Single Product Concentration→Stable
- +1 more pillar — see the Why tab for full reasoning
Soleno Therapeutics, Inc. (SLNO) Stock Analysis
Healthcare · Biotechnology
Sell if holding. Analyst target reached at $53.02 — A.R:R is negative (-0.9) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: VYKAT XR.
Soleno Therapeutics commercializes VYKAT XR (diazoxide choline) extended-release tablets, FDA-approved March 2025 for hyperphagia in Prader-Willi syndrome patients ages 4 and older. Revenue is generated through weight-based pricing at $6.0976 per milligram via specialty pharmacy... Read more
Sell if holding. Analyst target reached at $53.02 — A.R:R is negative (-0.9) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: VYKAT XR. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.3/10, moderate confidence.
Passes 7/10 gates (positive momentum, clean insider activity, positive momentum, news events none recent, earnings proximity 33d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: speculative.
About Soleno Therapeutics, Inc.
About Soleno Therapeutics, Inc.
VYKAT XR (diazoxide choline) received FDA approval on March 26, 2025 for hyperphagia in Prader-Willi syndrome patients ages 4 and older in the United States — the first approved treatment for this symptom of the rare genetic disorder. Soleno Therapeutics began recognizing revenue from VYKAT XR in Q2 2025 and reported net income of $20.9 million for the fiscal year ended December 31, 2025, carrying an accumulated deficit of $431.4 million. The company held $50.0 million in term loan debt from Oxford Financing LLC at year-end.
Soleno Therapeutics sells VYKAT XR at a list price of $6.0976 per milligram under weight-based pricing, distributed through a non-exclusive specialty pharmacy agreement. The company employs a targeted commercial organization of approximately 65 individuals, including 28 rare disease specialists and 16 clinical nurse educators, focused on roughly 10,000 identified PWS patients in the U.S. based on 2022–2023 claims data. Manufacturing is fully outsourced to third-party CMOs with multiple manufacturing sites; API is stored at third-party U.S. facilities and finished product is distributed through a 3PL logistics provider. Competing pipeline programs in PWS include drugs from Harmony Biosciences, Rhythm Pharmaceuticals, and Aardvark Therapeutics at various clinical stages. VYKAT XR patent coverage runs from 2026 to 2035 across the U.S. and international markets including Europe, Canada, Japan, and China.
Show full overview
VYKAT XR is Soleno Therapeutics' sole commercial and revenue-generating asset, making corporate value entirely contingent on the product's commercial trajectory in the rare PWS population. In May 2026, Neurocrine Biosciences completed a change-of-control acquisition of Soleno via tender offer at $53.00 per share, with 88.9 percent of outstanding shares tendered and the merger consummated under Section 251(h) of the Delaware General Corporation Law. Prior to the acquisition, the 10-K disclosed that sustained profitability and the ability to fund ongoing operations beyond VYKAT XR commercialization remained uncertain.
See also: Healthcare · Biotechnology
From Soleno Therapeutics, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-07-06Recent Developments — Soleno Therapeutics, Inc.
Latest news
- NEWS SHAREHOLDER ALERT Securities Class Action Filed Against Soleno Therapeutics, Inc. (SLNO) - TMX Newsfile — TMX Newsfile negative
- NEWS Soleno Therapeutics (SLNO) Projected to Post Earnings on Wednesday - MarketBeat — MarketBeat neutral
- NEWS SLNO Q1 2026 Earnings: EPS Misses Expectations Amid Lack of Revenue - Earnings Surprise Score - thelegaladvocate.com — thelegaladvocate.com negative
- NEWS SLNO Q1 2026 Earnings: EPS Misses Expectations Amid Lack of Revenue - Revenue Beat Analysis - thelegaladvocate.com — thelegaladvocate.com negative
- NEWS Bronstein, Gewirtz & Grossman, LLC Is Investigating Soleno Therapeutics, Inc. (SLNO) And Encourages Stockholders to Conn — ACCESS Newswire negative
Generated 2026-07-06T04:40:27Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductVYKAT XR10-K Item 1A: 'our immediate future financial results will depend primarily on our success in launching, selling and supporting our sole commercial product, VYKAT XR'
Material Events(8-K, last 90d)
- 2026-05-18Item 5.01HIGHChange of control completed May 18, 2026: Neurocrine Biosciences acquired Soleno Therapeutics at $53.00/share cash following tender offer in which 88.9% of shares were validly tendered; merger consummated under Section 251(h) DGCL.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $53.02 — A.R:R is negative (-0.9) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Product: VYKAT XR. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $52.89. Score 5.3/10, moderate confidence.
Take-profit target: $60.96 (+15.0% upside). Prior stop was $52.89. Stop-loss: $52.89.
Concentration risk — Product: VYKAT XR; Analyst target reached - limited upside remaining; Expensive valuation.
Soleno Therapeutics, Inc. trades at a P/E of 27.5 (forward -23.4). TrendMatrix value score: 2.9/10. Verdict: Sell.
What does Soleno Therapeutics, Inc. do?Soleno Therapeutics commercializes VYKAT XR (diazoxide choline) extended-release tablets, FDA-approved March 2025 for...
Soleno Therapeutics commercializes VYKAT XR (diazoxide choline) extended-release tablets, FDA-approved March 2025 for hyperphagia in Prader-Willi syndrome patients ages 4 and older. Revenue is generated through weight-based pricing at $6.0976 per milligram via specialty pharmacy distribution, with commercial sales beginning in Q2 2025.