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  "documentTitle": "Soleno Therapeutics (SLNO)",
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  "authorName": "Scorpion Capital",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-08-15 00:00:00",
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  "notes": "The slide uses a 'claim-refutation' structure to dismantle the target company's product differentiation narrative.",
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      "kind": "callout",
      "text": "mg equivalent proglycem = mg equivalent DCCR x 0.66",
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      "text": "Decrease peak to trough ratios for DCCR: - Incorrect: Biologically insignificant peak to trough ratios (modeled, ~1.75 vs 1.5) expected due to high protein binding of and resulting long circulating half-life.",
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      "text": "Proglycem can not be substituted for DCCR - Incorrect: it’s a math trick. DCCR mg dose includes the weight of the choline salt (unconventionally). Proglycem dose includes just the weight of the active diazoxide (conventionally). To equate DCCR dose with proglycem just multiply DCCR dose by 0.66 (since DCCR is ~66% diazoxide and 33% salt)",
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      "text": "DCCR XR will have an improved residency time vs proglycem to support QD - Incorrect: Diazoxide circulates tightly bound to plasma proteins (>90%). Plasma bound diazoxide slow released to interstitial space in circulation. DCCR’s slowed absorption likely decreases its bioavailability (some is excreted prior to absorption) but MRT should be similar for both forms.",
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      "text": "DCCR better than oral suspension – more convenient QD - Incorrect: liquid formulation is easily tailored to maintain uniform mg/kg dose in children/adults. Oral proglycem tablets are also available.",
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      "text": "Better peak to trough/smoother plasma levels - Incorrect: Low levels circulating DCCR (Cmin at steady state) likely due to decreased bioavailability (they hide PK data & manipulate those few data shared).",
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      "text": "Diazoxide XR (DCCR) supports QD vs proglycem BID - Incorrect: Both support QD. Proglycem PK characteristics already support QD dosing. BID proglycem: convention over decades and overabundance of caution in children & young adults.",
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      "text": "Source: Scorpion Capital analysis and estimates",
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      "text": "We summarize our pharmacology consultant’s key takeaways, which indicate there is no pharmacokinetic rationale to use Vykat XR tablets vs. regular diazoxide suspension whether in inexpensive Proglycem form or an even cheaper generic. The suspension can also be dosed once daily, and can also be titrated more precisely.",
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