Jan. 17 at 10:48 PM
$SLNO reported Q425 Vykat sales of ~
$92MM.
The table compares SLNO Vykat sales by quarter post launch v 3 peer comm'l-stage bios acquired with like sales profiles post launch.
The 3 peers were acquired at multiples of actual sales ~4X higher than SLNO trades as an independent. SLNO's 9/30/25 net cash/debt is ~22% of its MC. Put simplest, SLNO needs to consider selling the company to maximize shareholder value if Vykat's value proposition is consistent with the 3 peers.
$RYTM &
$AARD are developing PWS therapies.
$NBIX did not disclose Crinessity Q4 2025 product sales at JPM. Crinessity product sales, by themselves, are consistent with the 3 products acquired. NBIX's Ingrezza is on track to reporting
$2.5B in FY25 sales (not considered in the multiples noted).
$MDGL 's Rexdiffra has been on the market for 6 quarters. MDGL's multiples do not consider material dilutive securities. MDGL posted here for reference only
Actual sales do not consider potential TAM.
This is not investment advice.
