{ "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": 86, "pageCount": 415, "prevPage": 85, "nextPage": 87, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses direct quotes to undermine the credibility of the drug's clinical narrative and the company's influence on investigators.", "elementsJson": [ "headline_text", "bullet_list", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-3bcd52c6e583/86", "deckHref": "/decks/019dd923-622c-750b-8b9a-3bcd52c6e583", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-3bcd52c6e583.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-3bcd52c6e583#slide-86", "components": [ { "bbox": null, "kind": "callout", "text": "I'm more concerned about the edema than the hyperglycemia...it's easier to monitor for the hyperglycemia than for the edema...that's been a question I've asked them: how do they clinically evaluate for edema if you're not going to be seeing the patient all the time?", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-64ce-7561-b29c-87075ea39cf1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.85, "x": 0.07, "y": 0.16 }, "kind": "paragraph", "text": "When we asked him about a PWS association in particular that he stated is driving initial interest – not physicians – he replied emphatically: \"You're right...you're definitely right about that...you're definitely right about that...a lot of it's coming from — Soleno definitely has quite an involvement in this...and definitely a lot of it, I'm sure who's supporting the study people being supported by Soleno, they are communicating on the same message...maybe we are being naïve to rely on it...now I'm just — you're making me question a lot of things... I appreciate your input...you brought up factors that I think maybe you are unique in bringing them up...no, I appreciate it.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "38323a4c-6ae1-4c5b-974d-ffffbee88988", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.23, "w": 0.85, "x": 0.07, "y": 0.71 }, "kind": "paragraph", "text": "The endocrinologist indicated significant concern about edema-induced cardiac risk, as well as diabetes, to the point that he has asked Soleno for an answer; and plans baseline cardiac evaluations, which we presume would involved an echocardiogram - \"I'm more concerned about the edema than the hyperglycemia...it's easier to monitor for the hyperglycemia than for the edema...that's been a question I've asked them: how do they clinically evaluate for edema if you're not going to be seeing the patient all the time?...I think 30% of drug patients, treated patients actually developed edema... I'm more worried about the edema\"; \"I personally am doing baseline cardiac evaluations on these patients...in case they do develop edema, which can put strain on the cardiac function... the proof is going to be when we start treating these patients and seeing what happens...we just have to wait and see what happens.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5f4cf006-8879-4dc8-8fca-5b442e2adbe5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.28, "w": 0.85, "x": 0.07, "y": 0.42 }, "kind": "paragraph", "text": "Stated he had jumped to submit a few start forms only because he had been told by a study investigator - who we believe to be Jennifer Miller, based on his coy response - that the drug takes 4 to 6 months to show a response. He himself noted that was highly unusual, as the phase 3 and withdrawal studies were only 13 week and 16 weeks, respectively, and purportedly showed efficacy within that period - and then appeared to wonder if he had been played: \"Talking to some of the study people, they really only see the effects of the 4 to 6 months on the drug...that's what I was told just to really see the effects, which is a little unusual compared to the data\"; \"an important person in the study...it was a little unusual, I must say, based on when you look at the data...the question for me is, when am I going to see that response?\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9cebd912-62f2-4b5d-9394-5e9923a3353f", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"You're right...you're definitely right about that...you're definitely right about that...a lot of it's coming from — Soleno definitely has quite an involvement in this...and definitely a lot of it, I'm sure who's supporting the study people being supported by Soleno, they are communicating on the same message...maybe we are being naïve to rely on it...now I'm just — you're making me question a lot of things... I appreciate your input...you brought up factors that I think maybe you are unique in bringing them up...no, I appreciate it.\" — Endocrinologist #5", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-64ce-7561-b29c-8a560b48cfb8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.07, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4a5aa259-1d39-4bc3-86bd-9f3af7333615", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.85, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "Endocrinologist #5 (cont’d): Division Chief for pediatric endocrinology at a major academic center who sees 20-25 PWS patients annually.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9b946dc9-4744-4d31-b140-cd62ab1fe198", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }