SCHEDULE 13G/A: Adage Capital Management Discloses 9.58% Passive Stake in Soleno Therapeutics
Beneficial Ownership Report
Adage Capital Management, L.P., along with its managing members Robert Atchinson and Phillip Gross, has reported a passive beneficial ownership of 9.58% in Soleno Therapeutics Inc., totaling 4,392,696 shares of common stock.
Summary
- Adage Capital Management, L.P., Robert Atchinson, and Phillip Gross collectively reported beneficial ownership of 4,392,696 shares of Soleno Therapeutics Inc. common stock.
- This ownership represents 9.58% of the company's outstanding common stock.
- The filing was made under Rule 13d-1(c), indicating a passive investment purpose, meaning the shares were not acquired or held for the purpose of changing or influencing control of the issuer.
- The percentage of ownership is calculated based on 45,857,291 shares of common stock outstanding as of February 26, 2025, as reported in Soleno Therapeutics' Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
- Adage Capital Management, L.P. is a Delaware limited partnership, while Robert Atchinson and Phillip Gross are citizens of the United States.
Sentiment
Score: 5
Explanation: A Schedule 13G filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the company's performance or outlook. It simply reports a significant passive investment.
Future Outlook
NA
Industry Context
This filing indicates a significant passive investment by a prominent investment firm in Soleno Therapeutics, a company operating in the biotechnology or pharmaceutical sector. Such disclosures are common for institutional investors accumulating stakes in publicly traded companies, reflecting their investment thesis on the company's future prospects within its industry.
Stakeholder Impact
- Shareholders: The disclosure of a significant passive stake by a reputable investment firm like Adage Capital Management could be viewed positively by other shareholders, potentially signaling confidence in the company's long-term value. It also provides transparency regarding the ownership structure.
Key Dates
| Date | Description |
|---|---|
| 2024-12-31 | End of fiscal year for Soleno Therapeutics' Annual Report on Form 10-K. |
| 2025-02-26 | Date as of which 45,857,291 shares of Common Stock were reported outstanding in the Company's 10-K. |
| 2025-02-28 | Date Soleno Therapeutics' Annual Report on Form 10-K for the fiscal year ended December 31, 2024, was filed with the SEC. |
| 2025-03-31 | Date of event which required the filing of this Schedule 13G statement. |
| 2025-05-12 | Date the Schedule 13G was signed by the Reporting Persons. |
Keywords
Soleno Therapeutics, Adage Capital Management, SEC Filing, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, Biotechnology, Pharmaceuticals
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.