Scorpion Capital discloses short position in drugmaker Soleno
The company in March had received the U.S. Food and Drug Administration's approval for its drug, Vykat XR, to treat a condition called Prader-Willi syndrome. The drug treats hyperphagia — a symptom of the disorder that causes a feeling of insatiable hunger persisting even after meals.
Scorpion Capital alleged that the drug causes high risk of fluid buildup in the lungs and heart failure. It also said the drug "may be at risk of being withdrawn from market".
Soleno did not immediately respond to a request for comment. Reuters could not independently verify the claims raised in the report.
Shares of the company, which launched Vykat XR in April, have risen about 46% so far this year. Earlier this month, Soleno said it had seen 295 unique prescribers of the drug.
Previously, the short seller had also targeted other biotechs such as Harmony Biosciences (HRMY.O), opens new tab and Allakos .
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