Soleno Therapeutics (SLNO) Ends 26% Lower After Q3 Earnings

We recently published 10 Stocks Left Behind Amid Wall Street Cheer. Soleno Therapeutics Inc. (NASDAQ:SLNO) is one of the worst-performing stocks on Wednesday.

Soleno Therapeutics extended its losing streak to a 5th consecutive day on Wednesday, slashing 26.59 percent to close at $46.87 apiece as investors appeared to have priced in a strong earnings performance in the third quarter of the year.

The maker of the first and only FDA-approved drug for hyperphagia said in an updated report that it swung to a net income of $26 million, or a 134 percent improvement from the $76.6 million net loss in the same period last year. It also incurred revenues of $66 million during the quarter.

Soleno Therapeutics (SLNO) Ends 26% Lower After Q3 Earnings

kurhan / shutterstock.com

“Our strong third quarter results reflect growing awareness of the compelling efficacy and safety profile of Vykat XR within the PWS community,” said Soleno Therapeutics Inc. (NASDAQ:SLNO) Chairman and CEO Anish Bhatnagar.

“As the first and only FDA-approved therapy to treat the hallmark symptom of PWS—hyperphagia—in patients 4 years and older, Vykat XR can offer a new option to this fragile and complex patient population that often suffers from a multitude of serious co-morbidities … and we are working tirelessly to make it as broadly accessible as possible,” he added.

While we acknowledge the risk and potential of SLNO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SLNO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.