Soleno Therapeutics' VYKAT XR Launch Momentum Set to Shape Investment Narrative and Risk-Reward Profile

Soleno Therapeutics' Q4 2025 revenue is expected to be around $90-92 million, with a near 9% share price move. The company's investment narrative is centered around the success of its rare-disease drug VYKAT XR, and its ability to scale into a durable revenue engine. Management's ability to turn strong early sales into a sustainable business despite ongoing losses and a rich valuation will be crucial. Upcoming conferences and full results will be key tests of the drug's commercial traction.