Soleno Therapeutics (SLNO) investor relations material

Recent performance and financial highlights

• Q3 revenue reached $66 million, doubling Q2, with profitability achieved and over 130 million lives covered.

• Stock buyback initiated due to perceived undervaluation and strong cash position exceeding $500 million.

• Net patient adds expected to continue, with discontinuation rates at 8-10% and adherence around 80%.

• Access remains strong across commercial, Medicare, and Medicaid channels, with over 130 million covered lives.

• Profitability is expected to be maintained, with spending increases only if EU launch is self-managed.

Patient growth, market opportunity, and launch dynamics

• Achieved 10% of a 10,000-patient addressable market (TAM) within six months; targeting 20% TAM by next year.

• No plateau in patient growth anticipated; high-volume prescribers have not reached capacity.

• Discontinuations mainly due to manageable side effects; most patients titrate to target doses.

• Physician and caregiver education initiatives, including peer-to-peer programs and nurse educators, support adherence.

• Real-world efficacy and safety align with clinical trials, with positive patient and caregiver feedback.

Payer, pricing, and access dynamics

• Coverage is robust, with policies in place at major PBMs and positive reauthorization experiences.

• Reimbursement is generally prompt; subjective caregiver and physician assessments drive continued therapy.

• Average patient weight in real-world use is higher than in trials, supporting favorable pricing trends.

• Access for higher-weight patients remains strong, with benefits investigation and free drug options as needed.