Soleno Therapeutics Inc. (SLNO) witnessed a sharp plummet of 5.07% in its stock price on Tuesday's intraday trading session. This significant drop followed the biotechnology company's release of its Q4 2024 earnings results, which missed analysts' expectations.
According to the earnings summary, Soleno Therapeutics reported a quarterly adjusted loss of $1.27 per share for the quarter ended December 31, 2024, wider than the analysts' consensus estimate of a $1.15 loss per share. The company also reported a substantial quarterly loss of $55.98 million, further exacerbating investors' concerns.
While Soleno Therapeutics did not provide any revenue, as expected by analysts, the company's shares had risen by 1.9% this quarter. However, the disappointing earnings results and the lack of positive catalysts appear to have triggered the steep sell-off in the stock, underscoring the market's sensitivity to the company's financial performance and prospects.
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