Soleno Therapeutics (SLNO) Stock’s Peak is 30% Amid 9% Decline in Premarket

At the beginning of last week, Soleno Therapeutics (SLNO) stock did not move anywhere and was at the same level. And on Tuesday, it rose sharply by 30% and reached $1.32. Unfortunately, SLNO dropped and now trades at $1.20.

Soleno Therapeutics (SLNO) Stock’s Peak is 30% Amid 9% Decline in Premarket

Soleno Therapeutics, a clinical-stage biopharmaceutical company researching innovative therapies for the treatment of uncommon disorders, announced that the Food and Drug Administration (FDA) has granted Orphan Drug Designation to its investigational drug, DCCR (diazoxide choline) Extended-Release tablets, for the treatment of Glycogen Storage Disease 1a (GSD), also known as von Gierke disease.

Related:  Ocugen (OCGN) Stock Drops Following A Rapid Surge. What Can We Expect In The Future?

Anish Bhatnagar, CEO of Soleno Therapeutics, believes that providing the orphan drug designation for the DCCR program in an additional indication, GSD 1a, represents an important milestone for the company. The mechanism of action of DCCR, which has the potential to regulate hypoglycemia, may provide a significant treatment option for GSD 1a.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.