SCHEDULE 13G/A: Adage Capital Management Discloses 6.44% Stake in Soleno Therapeutics
Beneficial Ownership Disclosure
Adage Capital Management, L.P. and its principals have filed an amended Schedule 13G, disclosing a beneficial ownership of 6.44% in Soleno Therapeutics Inc. as of December 31, 2024.
Summary
- Adage Capital Management, L.P. (ACM), along with Robert Atchinson and Phillip Gross, collectively reported beneficial ownership of 2,775,976 shares of Soleno Therapeutics Inc. Common Stock.
- This aggregate amount represents 6.44% of Soleno Therapeutics' outstanding Common Stock.
- The percentage is calculated based on 43,117,432 shares of Common Stock outstanding as of October 31, 2024, as reported in the Company's Form 10-Q.
- Adage Capital Management, L.P. holds shared voting and dispositive power over all 2,775,976 shares.
- Robert Atchinson and Phillip Gross, as managing members of entities controlling Adage Capital Management, also share voting and dispositive power over these shares.
- The filing is an Amendment No. 3 to the original Schedule 13G.
- Adage Capital Partners GP, L.L.C. is no longer a beneficial owner of securities held by ACP and is no longer a reporting person on this Schedule 13G filing.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, which is neutral in sentiment. It does not contain positive or negative performance indicators or forward-looking statements.
Future Outlook
This document is a beneficial ownership disclosure and does not contain forward-looking statements or guidance regarding the issuer's future performance.
Industry Context
This Schedule 13G/A filing indicates a significant passive investment by Adage Capital Management, a prominent institutional investor, in Soleno Therapeutics Inc. Such filings are standard disclosures required by the SEC when an entity acquires more than 5% beneficial ownership of a company's stock, signaling a notable position by a large fund in the biotechnology or pharmaceutical sector.
Related Party Transactions
- The filing details the relationships between Adage Capital Management, L.P., Adage Capital Partners GP, L.L.C., Adage Capital Advisors, L.L.C., Adage Capital Partners LLC, and the individual reporting persons Robert Atchinson and Phillip Gross, clarifying their roles in the beneficial ownership structure.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and liquidity.
- Investment Professionals: Offers insight into the holdings of a major fund, potentially signaling confidence or strategic interest in Soleno Therapeutics.
Key Dates
| Date | Description |
|---|---|
| 2024-10-31 | Date as of which Soleno Therapeutics Inc. reported 43,117,432 shares of Common Stock outstanding in its Form 10-Q. |
| 2024-12-31 | Date of event which requires filing of this statement, representing the reporting period end date for beneficial ownership. |
| 2025-02-12 | Date of filing of this Schedule 13G/A Amendment No. 3. |
Keywords
Soleno Therapeutics Inc., Adage Capital Management, Schedule 13G, Beneficial Ownership, SEC Filing, Common Stock, Institutional Investor, Investment Management, Equity Stake
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