TD Cowen starts coverage on Soleno Therapeutics with "buy" following FDA approval of first PWS hunger treatment

Soleno Therapeutics

23/06/2025 14:13

** Brokerage TD Cowen starts coverage on drugmaker Soleno Therapeutics SLNO.O with "buy" rating and a PT of $110

** PT represents a 37.3% upside to the stock's last close

** Brokerage sees upside to SLNO's Vykat XR as the first approved treatment for excessive hunger (hyperphagia) in Prader-Willi Syndrome (PWS), a rare genetic condition

** "Vykat XR's label is a best-case scenario, with a broad indication for hyperphagia patients aged 4 and older. There are also no box warnings, no contraindications for diabetes"- TD Cowen

** TD Cowen analysts estimate peak sales of $2.6 billion by 2035 and say the estimate could be conservative considering the urgent unmet need and absence of competitors in the foreseeable future

** TD Cowen says SLNO has secured 268 prescription forms from 131 doctors since Vykat XR's March launch, targeting specialists to reach approximately 10,000 potential pediatric Prader-Willi Syndrome patients nationwide

** As of last close, SLNO stock up 77.9% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))