Grabar Law Office is investigating claims on behalf of shareholders of Soleno Therapeutics, Inc. (“Soleno” or the “Company”) (NASDAQ: SLNO). The investigation concerns whether Soleno and certain of its executives violated the federal securities laws by making materially false and misleading statements and failing to disclose adverse information about the safety profile and commercial prospects of its drug candidate DCCR (diazoxide choline extended-release tablets), marketed as VYKAT XR.

Soleno is a biopharmaceutical company focused on developing therapies for rare diseases. The Company’s primary product candidate during the period of the alleged securities fraud was DCCR (diazoxide choline extended-release tablets), intended to treat hyperphagia in individuals suffering from Prader-Willi Syndrome (PWS).

According to a recently filed federal securities fraud class action complaint Soleno repeatedly represented to investors that DCCR had demonstrated a favorable safety profile and strong clinical results supporting regulatory approval and commercial success.

The complaint alleges that throughout the Class Period, Defendants failed to disclose that:

• Soleno’s Phase 3 clinical trial program for DCCR downplayed, misrepresented, or concealed significant safety concerns, including evidence of excess fluid retention in clinical trial participants;
• As a result, administration of DCCR posed materially greater safety risks for individuals with Prader-Willi Syndrome than Soleno had represented to investors; and
• Due to these undisclosed safety issues, DCCR faced materially lower commercial viability, including risks of patient discontinuation, reduced physician adoption, regulatory scrutiny, and reputational damage.

During 2025, the market allegedly began to learn the truth about the risks associated with DCCR.

Among other disclosures:

• In August 2025, a detailed report questioned the integrity of Soleno’s clinical trial data and raised concerns about significant adverse safety events associated with the drug.
• Reports surfaced alleging that investigators and medical professionals had raised concerns regarding the drug’s safety profile and efficacy.
• In September 2025, Soleno disclosed that a patient had died after taking DCCR.
• By November 2025, the Company acknowledged that the controversy surrounding the drug had disrupted the commercial launch and negatively impacted adoption.

Following these disclosures, the price of Soleno stock declined significantly, falling from a Class Period high of more than $90 per share to below $45 per share, causing substantial losses to investors.

If you purchased or otherwise acquired Soleno Therapeutics (NASDAQ: SLNO) securities prior to March 26, 2025, you can seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you whatsoever. Contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085 to learn more.  Alternatively, if you purchased or acquired your shares between March 26, 2025 and November 4, 2025, you may be entitled to participate in this securities fraud class action.