v3.25.3

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 246,662	$ 87,928
Marketable securities	252,272	203,509
Accounts receivable, net	25,506
Inventory, net	6,674
Prepaid expenses and other current assets	3,739	2,452
Total current assets	534,853	293,889
Long-term assets
Property and equipment, net	150	186
Operating lease right-of-use assets	2,314	2,798
Intangible assets, net	5,347	6,805
Long-term marketable securities	57,148	27,211
Other long-term assets	83	83
Total assets	599,895	330,972
Current liabilities
Accounts payable	8,145	8,882
Accrued compensation	7,248	4,776
Operating lease liabilities	697	526
Other current liabilities	17,163	4,563
Total current liabilities	33,253	18,747
Long-term liabilities
Contingent liability for Essentialis purchase price	19,473	14,791
Long-term debt, net	49,854	49,828
Long-term lease liabilities	2,112	2,472
Other long-term liabilities	398	21
Total liabilities	105,090	85,859
Commitments and contingencies (Note 6)
Stockholders’ equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.001 par value, 100,000,000 shares authorized, 53,703,675 and 45,703,811 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively	54	46
Additional paid-in-capital	969,119	696,966
Accumulated other comprehensive income	360	361
Accumulated deficit	(474,728)	(452,260)
Total stockholders’ equity	494,805	245,113
Total liabilities and stockholders’ equity	$ 599,895	$ 330,972

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

SOLENO THERAPEUTICS INC 10-Q