Soleno Therapeutics reported preliminary net sales of its Prader-Willi syndrome drug, Vykat XR, between $31 million and $33 million for Q2 2025, exceeding Wall Street forecasts. Since U.S. approval in March 2025, Soleno has received substantial physician interest, as indicated by 646 patient start forms from 295 doctors. Despite positive launch momentum, the company simultaneously raised $200 million in equity financing to support ongoing commercialization efforts. Analysts highlight strong demand and reimbursement as key drivers, while share prices showed volatility after announcements.