Soleno Therapeutics executives receive pay raises and bonuses

Soleno Therapeutics Inc. (NASDAQ:SLNO), a $2.07 billion market cap company specializing in electromedical and electrotherapeutic apparatus, has announced changes to its executive compensation program following a review by its Compensation Committee.

According to InvestingPro analysis, the stock appears overvalued at its current price of $48.06, though analysts maintain a strong buy consensus with price targets ranging from $67 to $93.

On January 21, 2025, the Board of Directors approved increases to the base salaries for the fiscal year 2025, cash bonuses for the fiscal year 2024, and granted equity awards to its named executive officers. These compensation changes come as InvestingPro data shows the company holding more cash than debt on its balance sheet, with analysts expecting profitability in the coming year.

Effective as of January 1, 2025, Anish Bhatnagar, the Chief Executive Officer, will receive a base salary of $739,000 and a cash bonus of $403,200 for the fiscal year 2024. Additionally, Bhatnagar was awarded 115,600 stock options and 53,900 restricted stock units (RSUs). The options will vest over a four-year period, with the first 1/48th vesting on the first anniversary of the Vesting Commencement Date and the remainder vesting monthly thereafter. The RSUs will vest in four equal annual installments starting December 15, 2024.

James Mackaness, the Chief Financial Officer, will have a new annual base salary of $511,000 and a cash bonus of $193,200 for the previous fiscal year. Mackaness was also granted 31,000 stock options and 14,500 RSUs with the same vesting conditions as the CEO's awards.

Patricia Hirano, the Senior Vice President of Regulatory Affairs, will see her base salary increase to $432,000 and will receive a cash bonus of $137,812 for fiscal year 2024. Hirano's equity awards include 13,800 stock options and 6,400 RSUs, subject to the same vesting terms.

This information is based on a press release statement filed with the SEC. The adjustments in compensation come as part of the company's ongoing efforts to align executive pay with performance and market standards. Soleno Therapeutics is incorporated in Delaware, with its principal executive offices located in Redwood (NYSE:RWT) City, California.

The company maintains strong liquidity with a current ratio of 17.26, and notably shows a negative beta of -1.47, indicating its stock often moves counter to market trends. Discover more insights about SLNO and 1,400+ other stocks with comprehensive Pro Research Reports available on InvestingPro.

In other recent news, Soleno Therapeutics, Verve Therapeutics, and Rhythm Pharmaceuticals (NASDAQ:RYTM) have been highlighted by Stifel as top biotech picks for 2025. Soleno's New Drug Application for DCCR, a treatment for Prader-Willi syndrome, is under extended review by the FDA with a new target action date set for March 27, 2025. Analysts from Baird, H.C. Wainwright, Oppenheimer, and Laidlaw are optimistic about DCCR's eventual approval and project Soleno to begin generating revenue by mid-2025.

Rhythm Pharmaceuticals and Verve Therapeutics are expected to release clinical data, with Verve's Phase 1b Heart-2 data potentially setting its PCSK9 editor apart. These recent developments suggest potential growth and profitability for these companies, with Soleno maintaining a strong financial position and analysts forecasting positive earnings for the upcoming year.

Meanwhile, Soleno has also seen changes in its Board of Directors, with Matthew Pauls appointed as the new Lead Independent (LON:IOG) Director and the addition of Dawn Carter Bir. Furthermore, the company has entered into an agreement with Jefferies LLC to potentially sell up to $150 million of its common stock and has awarded performance-based restricted stock units to its employees.

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