Soleno Therapeutics Announces CFO Transition
September 05 2017 - 4:58PM
David O’Toole to Depart Company; Interim CFO
Appointed and Search for New CFO Initiated
Soleno Therapeutics, Inc. (NASDAQ:SLNO), a clinical-stage
biopharmaceutical company developing novel therapeutics for the
treatment of rare diseases, announced today that David O’Toole, the
Company’s Chief Financial Officer (CFO), will transition from
Soleno in mid-September to pursue other opportunities. Soleno
has appointed Jonathan R. Wolter, effective immediately, as interim
Chief Financial Officer, and has initiated a search for a successor
to Mr. O’Toole, who will serve as a consultant to the Company to
provide support during the transition period.
“David has helped guide the Company through multiple key
inflection points, including its Initial Public Offering in 2014,”
said Anish Bhatnagar, M.D., Chief Executive Officer of Soleno
Therapeutics. “On behalf of the Board, I would like to thank
David for his dedication and vast contributions to the Company over
the last three years.”
Mr. Wolter is a principal of FLG Partners, a leading Silicon
Valley chief financial officer services and board advisory
consultancy. He has over 40 years of financial and operational
experience and has been a partner at FLG Partners since August
2004, during which time he has served as chief financial officer
and advisor for multiple life sciences companies. Prior to joining
FLG, Mr. Wolter served as Chief Financial Officer of KPMG
Consulting, Latin America, and International Controller with KPMG
Consulting, and has held senior financial management positions with
several publicly-traded companies, including Exponent and First
Republic Bancorp.
About Soleno Therapeutics, Inc.Soleno
Therapeutics, Inc. is focused on the development and
commercialization of novel therapeutics for the treatment of rare
diseases. The company is currently advancing its lead
candidate, DCCR, a once-daily oral tablet for the treatment of PWS,
into a Phase III clinical development program at the end of 2017.
Soleno, through its wholly-owned subsidiary, Capnia, Inc.,
continues to market Capnia’s innovative medical device, the
CoSense® End-Tidal Carbon Monoxide (ETCO) monitor, which measures
ETCO and is used by hospitals to detect hemolysis in
newborns. It is expected that this product will be monetized
and will not be a focus for the company in the long term.
For more information, please visit www.soleno.life.
Forward-Looking StatementsThis press release
contains forward-looking statements that are subject to many risks
and uncertainties. Forward-looking statements include statements
regarding our intentions, beliefs, projections, outlook, analyses
or current expectations concerning, among other things, our ability
to find a qualified replacement Chief Financial Officer. We
may use terms such as "believes," "estimates," "anticipates,"
"expects," "plans," "intends," "may," "could," "might," "will,"
"should," "approximately" or other words that convey uncertainty of
future events or outcomes to identify these forward-looking
statements. Although we believe that we have a reasonable basis for
each forward-looking statement contained herein, we caution you
that forward-looking statements are not guarantees of future
performance and that our actual results of operations, financial
condition and liquidity, and the development of the industry in
which we operate may differ materially from the forward-looking
statements contained in this presentation. As a result of these
factors, we cannot assure you that the forward-looking statements
in this presentation will prove to be accurate. Additional factors
that could materially affect actual results can be found in
Soleno’s Form 10-Q filed with the Securities and Exchange
Commission on August 11, 2017, including under the caption titled
"Risk Factors." Soleno expressly disclaims any intent or obligation
to update these forward-looking statements, except as required by
law.
Contact:
Brian Ritchie
LifeSci Advisors, LLC
212-915-2578
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