Soleno Therapeutics (SLNO) Ends 26% Lower After Q3 Earnings

We recently published 10 Stocks Left Behind Amid Wall Street Cheer. Soleno Therapeutics Inc. (NASDAQ:SLNO) is one of the worst-performing stocks on Wednesday.

Soleno Therapeutics extended its losing streak to a 5th consecutive day on Wednesday, slashing 26.59 percent to close at $46.87 apiece as investors appeared to have priced in a strong earnings performance in the third quarter of the year.

The maker of the first and only FDA-approved drug for hyperphagia said in an updated report that it swung to a net income of $26 million, or a 134 percent improvement from the $76.6 million net loss in the same period last year. It also incurred revenues of $66 million during the quarter.Soleno Therapeutics (SLNO) Ends 26% Lower After Q3 Earnings

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“Our strong third quarter results reflect growing awareness of the compelling efficacy and safety profile of Vykat XR within the PWS community,” said Soleno Therapeutics Inc. (NASDAQ:SLNO) Chairman and CEO Anish Bhatnagar.

“As the first and only FDA-approved therapy to treat the hallmark symptom of PWS—hyperphagia—in patients 4 years and older, Vykat XR can offer a new option to this fragile and complex patient population that often suffers from a multitude of serious co-morbidities … and we are working tirelessly to make it as broadly accessible as possible,” he added.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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