Aug. 29 at 4:40 PM
On October 31, 2022, Soleno Therapeutics
$SLNO was trading for
$0.99 awaiting Top-Line results from a Randomized Withdrawal Period of Study C602 of DCCR for Prader-Willi Syndrome (Don’t ask me what that is or means though I do know now that their Phase-3 trial readout in 2020 failed to meet its primary endpoint).
Just to show you how crazy biotech can be, meeting this primary endpoint (p=0.0022) press released on September 26, 2023 caused the stock to rally from
$4.89 to
$29.51 4-days later on September 30, 2023 (a 6x bump) and to
$48.32 less than 6-months later as investors began to appreciate the value proposition.
I bring this up to demonstrate how complex the trading activity around
$RFL might be on non-stat-sig results. Selling might be the worst option as approval could come a short while later unlike Soleno’s VYKAT.
Soleno hit a high of
$86.47 on July 31, 2025 and dipped to as low as
$33 on March 31, 2026 before being acquired by Neurocrine on May 31, 2026 for
$53.01.
