Why Soleno Therapeutics Stock Blasted 9% Higher Today

Soleno Therapeutics (NASDAQ: SLNO) had some good news to report on the regulatory front on Tuesday. Investors were cheered by this as evidenced by their sending the biotech's stock more than 9% higher in price on the day. This performance was much better than that of the closely watched S&P 500 index, which closed up by less than 1%.Before market open that day, Soleno reported that the U.S. Food and Drug Administration's (FDA) review division determined there was no need for an advisory committee meeting on a crucial submission from the company, at least for now. This is a new drug application (NDA) for the company's diazoxide choline (DCCR) tablets aimed at the treatment of genetic disorder Prader-Willi Syndrome. Soleno isn't entirely in the clear to skip this typical step in the NDA process; the regulator added that it would continue to consider the need for such a meeting while it reviews the application.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool