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  "docId": "019dd923-622c-750b-8b9a-3bcd52c6e583",
  "docSlug": "f06b0b5d2079",
  "documentTitle": "Soleno Therapeutics (SLNO)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-08-15 00:00:00",
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  "pageNumber": 204,
  "pageCount": 415,
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  "slideType": "expose_contradiction",
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  "notes": "The slide uses a forensic approach to discredit clinical data, specifically targeting the validity of a poster presentation.",
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      "text": "The poster does not provide credible evidence for improved PK properties of DCCR. Instead, it highlights a pattern of data manipulation, non-transparent methodology, and implausible pharmacologic claims, undermining the entire DCCR PK narrative.",
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      "text": "Suspicious half-life claims: The poster describes a ~30-hour half-life, consistent with known diazoxide PK, however, the prescribing information claims a 106-hour half-life with no supporting data.",
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      "text": "Implausible time-concentration curve: The DCCR curve shows a flat 12-hour plateau with identical plasma concentrations (~8 µg/mL) across multiple timepoints — a biological impossibility under first-order kinetics.",
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      "text": "Invalid Tmax shift argument: Cmax is markedly reduced (~40-50%), inconsistent with a pure delay in absorption. AUC appears lower, indicating possible reduced bioavailability, not increased circulating residency time.",
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      "text": "Only public PK data source: The only publicly available time-concentration data for DCCR we can locate comes from a single poster — not a peer-reviewed publication. This data appears internally inconsistent, methodologically implausible, and likely manipulated.",
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      "text": "Mismatch between graph and table: The Cmax, Tmax, and AUC values listed in the poster’s table do not match the plotted graph. Cmax and AUC for DCCR are artificially suppressed, yet the elimination phase is identical to that of Proglycem.",
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      "text": "Conclusion: The poster does not provide credible evidence for improved PK properties of DCCR. Instead, it highlights a pattern of data manipulation, non-transparent methodology, and implausible pharmacologic claims.",
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      "kind": "paragraph",
      "text": "We hired a pharmacologist PhD with decades of experience in PK studies to analyze Soleno’s DCCR claims. The key takeaways from that analysis are below.",
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      "kind": "source-note",
      "text": "Source: Scorpion Capital analysis and estimates",
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      "kind": "title",
      "text": "The PK data in the poster and the CEO’s claims, in our view, are phony and designed to fabricate a pretense for its tablet",
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