{ "docId": "019dd923-622c-750b-8b9a-3bcd52c6e583", "docSlug": "f06b0b5d2079", "documentTitle": "Soleno Therapeutics (SLNO)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2025-08-15 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 124, "pageCount": 415, "prevPage": 123, "nextPage": 125, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 3, "notes": "The slide uses a red box to highlight the specific claim about 60% of participants having PD/DM at baseline.", "elementsJson": [ "paragraph", "screenshot" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-3bcd52c6e583/124", "deckHref": "/decks/019dd923-622c-750b-8b9a-3bcd52c6e583", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-3bcd52c6e583.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-3bcd52c6e583#slide-124", "components": [ { "bbox": { "h": 0.05, "w": 0.86, "x": 0.07, "y": 0.75 }, "kind": "callout", "text": "At baseline, 60% of study participants were identified as having evidence of PD/DM. Efficacy was measured using HQ-CT scores and safety was assessed by hyperglycemia-related laboratory values and adverse events (AEs). Efficacy outcomes at Week 156 (p<0.0001) were similar for the PD/DM and normoglycemic groups.", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "90aeb604-8d13-415b-b17d-1ac8d88d1be5", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "At baseline, 60% of study participants were identified as having evidence of PD/DM.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-64ce-7561-b2a0-4dc64845fd5f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.86, "x": 0.07, "y": 0.48 }, "kind": "paragraph", "text": "SOLENO THERAPEUTICS HIGHLIGHTS NEW DATA ON VYKAT(TM) XR AT THE 2025 UNITED IN HOPE: INTERNATIONAL PRADER-WILLI SYNDROME CONFERENCE", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1960b925-9fdd-4bda-885a-4b3a7104a20f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.86, "x": 0.07, "y": 0.81 }, "kind": "paragraph", "text": "As expected, a greater proportion of hyperglycemia-related AEs were reported for participants with PD/DM as compared to those without (42.7% vs 24.0%, respectively), however these events were generally manageable. Treatment-emergent adverse event-related discontinuations rates were similarly low (4.0% in PD/DM individuals vs. 6.0% in normoglycemic individuals) regardless of baseline PD/DM status.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5248ef8c-de10-43ad-9603-d9bd3b316de6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.86, "x": 0.07, "y": 0.67 }, "kind": "paragraph", "text": "Safety and Efficacy of Diazoxide Choline Extended-Release in Patients with PWS who Have Pre-Diabetes or Diabetes\nThis poster summarizes an analysis of the safety and efficacy of VYKAT XR in individuals in Soleno’s Phase 3 clinical trials who had evidence of pre-diabetes or diabetes (PD/DM) at baseline versus those who were normoglycemic.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "69b41829-7dcc-481a-bd3f-09adb1945901", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.55, "x": 0.07, "y": 0.44 }, "kind": "paragraph", "text": "June 20 and 25, 2025 press releases – excerpts of poster presentation", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c27e17b9-5962-4586-bf95-81b0edbedf44", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "Thus, Soleno's own data – by our analysis - shows significant increase in pre-T2D and T2D within 13 weeks of treatment, and increasing linearly thereafter. Although the data is obscured in a manner that conceals this risk, we think the company – in recent weeks – has resorted to a more concerning maneuver, by publishing a “new” version of the same HbA1c chart, which makes it even more difficult to discern the T2D ticking time bomb lurking in its own chart. We sensed something irregular was afoot when Soleno announced supplemental Phase 3 data at a June 25, 2025 conference: a presentation by J. Miller which asserted that “at baseline, 60% of study participants were identified as having evidence of PD/DM” – prediabetes and diabetes mellitus.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "caded630-e0f3-4b41-902e-158472373322", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“at baseline, 60% of study participants were identified as having evidence of PD/DM” — J. Miller", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-64ce-7561-b2a0-502db50c833c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.75, "x": 0.07, "y": 0.89 }, "kind": "source-note", "text": "Source: https://investors.soleno.life/news-releases/news-release-details/soleno-therapeutics-announces-multiple-presentations-2025-united; https://investors.soleno.life/news-releases/news-release-details/soleno-therapeutics-highlights-new-data-vykattm-xr-2025-united", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "39d5dc23-6416-4645-9457-08b0fdae0f22", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.86, "x": 0.07, "y": 0.57 }, "kind": "table", "text": "Title: Safety and Efficacy of Diazoxide Choline Extended-Release (DCCR) Tablets in Patients with PWS who have Pre-Diabetes or Diabetes\nPresenter: Jennifer Miller, MD, Professor of Pediatric Endocrinology, the University of Florida, Gainesville\nDate/time: Wednesday, June 25, 4:00-6:00 MST", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4a9722eb-4847-436e-93b7-40cdc9cbd152", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "d194b2ac-10d0-40b7-9ddc-1a3c4e14b34e", "evidence": "The slide explicitly accuses the company of obscuring data and creating a 'ticking time bomb' to mislead investors.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }