Welcome to our dedicated page for Soleno Therapeutics SEC filings (Ticker: SLNO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Soleno Therapeutics filings document the regulatory, financial, governance, and capital-structure disclosures of a Nasdaq-listed biopharmaceutical company commercializing VYKAT XR for hyperphagia associated with Prader-Willi syndrome. Recent Form 8-K reports cover operating results and launch updates, regulatory and marketing-authorization matters for diazoxide choline, material agreements, share-repurchase arrangements, and the company's common stock registration on Nasdaq.
The filing record also includes board-approved bylaw amendments, officer appointments and compensation arrangements, exhibits to earnings releases, and material-event disclosures related to strategic transactions. These documents formalize the company's public reporting around product commercialization, corporate governance, executive compensation, and risk-related business developments.
Soleno Therapeutics reported a rapid shift to commercial growth driven by its first product, VYKAT XR for Prader‑Willi syndrome. Product revenue, net, reached $91.7 million in the fourth quarter and $190.4 million for 2025, compared to no product revenue in 2024.
For 2025, the company generated net income of $20.9 million, or $0.40 per basic share, reversing a $175.9 million net loss in 2024. Operating income was $9.4 million for the year as higher sales offset commercialization costs.
Research and development expense fell to $40.6 million for 2025 from $78.6 million, mainly as pre‑launch and clinical costs declined. Selling, general and administrative expense increased to $132.1 million, reflecting commercial hiring, launch programs and international expansion.
Soleno reported strong launch momentum, noting patient start forms representing over 12% of the U.S. VYKAT XR addressable market in nine months. Total assets were $563.8 million and stockholders’ equity was $450.1 million as of December 31, 2025.
Janus Henderson Group plc filed an amended ownership report showing it is the beneficial owner of 7,178,354 shares of Soleno Therapeutics, Inc. common stock, representing 13.4% of the class as of the reported date.
The shares are held through various Janus Henderson asset management subsidiaries in managed client accounts, giving them shared power to vote and dispose of these shares but no sole authority. The managed portfolios receive all dividends and sale proceeds, and no individual portfolio holds more than five percent of Soleno’s common stock.
Soleno Therapeutics Inc. (SLNO) received a new 5.4% passive ownership disclosure from Avoro Capital Advisors LLC and Behzad Aghazadeh. The investors report beneficial ownership of 2,900,000 shares of Soleno common stock, based on 53,710,025 shares outstanding as of October 31, 2025.
Avoro, an investment adviser, states that the shares were acquired solely for investment purposes on behalf of Avoro Life Sciences Fund LLC. The filing certifies that the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Soleno. Both Avoro and Dr. Aghazadeh report sole voting and dispositive power over the 2,900,000 shares.
Wellington Management Group and affiliates report a significant ownership position in Soleno Therapeutics, Inc. They beneficially own 3,322,799 shares of Soleno common stock, representing 6.19% of the class as of December 31, 2025.
The Wellington entities report zero sole voting or dispositive power, with all voting and investment authority shared across group entities. The shares are owned of record by clients of various Wellington investment advisers, and no single client is reported to hold more than five percent of the class. The position is certified as acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of Soleno.
Soleno Therapeutics reported new equity awards for officer Kristen Yen, its SVP Global Clinical Operations and Patient Advocacy. On January 21, 2026, Yen received 10,400 shares of Common Stock for no cash cost, structured as restricted stock units. These RSUs are scheduled to vest 100% on December 15, 2027, if she continues as a service provider under the company’s 2014 Equity Incentive Plan.
Yen also received an employee stock option covering 11,900 shares of Common Stock at an exercise price of $43.65 per share. This option begins vesting on February 1, 2026, with 1/48th of the shares vesting monthly thereafter, contingent on continued service. After these transactions, she beneficially owned 37,639 shares of Common Stock directly, along with 11,900 stock options.
Soleno Therapeutics executive Kevin Norrett reported new equity awards in the form of restricted stock units and stock options. On January 21, 2026, he received 3,500 restricted stock units of Common Stock at no cost, bringing his beneficial ownership to 17,786 RSUs representing shares of Common Stock. These RSUs are scheduled to vest 100% on December 15, 2027, as long as he continues as a service provider under the company’s 2014 Equity Incentive Plan.
On the same date, he was also granted an employee stock option to purchase 4,000 shares of Common Stock at an exercise price of $43.65 per share. This option vests in equal monthly installments, with 1/48th of the shares vesting on February 1, 2026 and on each monthly anniversary thereafter, subject to his continued service. Both awards are standard compensation arrangements that align his interests with long-term company performance.
Soleno Therapeutics’ Chief Commercial Officer Manning Meredith received new equity awards. On January 21, 2026, Meredith was granted 28,600 shares of Common Stock in the form of restricted stock units at a grant price of $0. These RSUs are scheduled to vest 100% on December 15, 2027, as long as Meredith continues as a service provider under the company’s 2014 Equity Incentive Plan.
On the same date, Meredith was also granted an employee stock option for 32,800 shares of Common Stock with an exercise price of $43.65 per share. One forty‑eighth of these option shares will vest on February 1, 2026, with additional vesting on each monthly anniversary, subject to continued service. After these transactions, Meredith beneficially owned 72,029 shares of Common Stock directly, including RSUs subject to vesting conditions.
Soleno Therapeutics reported that its Chief Financial Officer, James H. Mackaness, received equity awards on January 21, 2026. He was granted 28,600 shares of Common Stock in the form of restricted stock units (RSUs) at a price of $0 per share, bringing his directly held Common Stock to 131,763 shares after the grant. These RSUs are scheduled to vest 100% on December 15, 2027, contingent on his continued service under the company’s 2014 Equity Incentive Plan.
On the same date, he also received an employee stock option for 32,800 shares of Common Stock at an exercise price of $43.65 per share, expiring on January 21, 2036. One forty-eighth of these option shares will vest on February 1, 2026, with additional installments on each monthly anniversary, subject to continued service.
Soleno Therapeutics reported an equity compensation grant to its Chief Development Officer, Joshi Manher. On January 21, 2026, Manher was awarded 4,100 restricted stock units (RSUs) of common stock at a price of $0 per unit, increasing his directly held RSUs tied to common stock to 20,171 following the grant. Each RSU represents the right to receive one share of common stock, and 100% of this new RSU grant is scheduled to vest on December 15, 2027, subject to continued service under the company’s 2014 Equity Incentive Plan.
On the same date, Manher also received an employee stock option covering 4,700 shares of common stock with an exercise price of $43.65 per share. The option vests in equal monthly installments, with 1/48th of the shares vesting on February 1, 2026 and on each one-month anniversary thereafter, conditioned on continued service. All reported holdings in this filing are listed as direct ownership.
Soleno Therapeutics senior vice president of clinical development Michael F. Huang reported equity awards in the company’s stock. On January 21, 2026, he received 10,400 shares of Common Stock for no cash consideration, structured as restricted stock units that each convert into one share if service conditions are met. Following this award, he directly beneficially owned 46,405 shares of Common Stock, some of which are RSUs subject to their own vesting terms.
On the same date, he was also granted an employee stock option covering 11,900 shares of Common Stock at an exercise price of $43.65 per share, expiring on January 21, 2036. One forty‑eighth of the option vests on February 1, 2026 and on each monthly anniversary thereafter, provided he continues as a service provider, while the 10,400 RSUs are scheduled to vest in full on December 15, 2027 under the same continued‑service condition.