Johnson Fistel Begins Investigation on Behalf of Soleno Therapeutics, Inc. (SLNO) Shareholders Who Have Incurred Losses
SAN DIEGO, November 11, 2025 – Shareholder rights law firm Johnson Fistel, PLLP is investigating whether Soleno Therapeutics, Inc. (NASDAQ: SLNO) or certain of its officers and directors violated federal securities laws by making false or misleading statements and/or failing to disclose material information to investors.
The investigation focuses on whether Soleno accurately disclosed information relating to the commercial launch of VYKAT XR, including patient discontinuation rates tied to adverse effects, as well as the impact of a short seller report that may have affected initiation rates and continuation of therapy.
On March 26, 2025, Soleno announced that the U.S. Food and Drug Administration had approved VYKAT XR (diazoxide choline) extended-release tablets for the treatment of hyperphagia in adults and children 4 years of age and older with Prader-Willi syndrome.
However, on November 4, 2025, Soleno revealed during its quarterly earnings call that the discontinuation rate of VYKAT XR related to adverse effects was approximately 8% at the end of the third quarter of fiscal 2025. Soleno’s CEO further acknowledged that the company “did see a disruption in [its] launch trajectory in the wake of a short seller report that was released in mid-August,” resulting in fewer treatment initiations and increased discontinuations for non-serious adverse events. Following this news, the price of Soleno shares fell more than 26%.