Soleno Secures Nearly 48 Medicaid Coverages with 600 Prescribers, Projects 1,000 Starts
Soleno Therapeutics said reimbursement covers nearly 48 Medicaid programs and Medicare, with over 600 prescribers submitting start forms that convert in 30–45 days and a 12% AE-related discontinuation rate. It plans roughly 1,000 start forms (10% of TAM) over 9–12 months and will report revenue and active patient metrics post-Q1.
1. Reimbursement and Prescriber Base
Soleno’s PWS treatment is covered by nearly 48 state Medicaid programs and Medicare, with large pharmacy benefit manager blocks removed and policy writing largely to label. The company has grown its prescriber network to over 600 physicians, many needing targeted education given PWS rarity.
2. Start-form Conversion and Patient Metrics
Start forms submitted by prescribers convert to active patients in 30–45 days through specialty pharmacy partner Panther, with single-digit cancellations due to administrative issues and overall discontinuation at 15–20% (12% AE-related). Revenue is driven by active paid patients, adherence, WAC and seasonally variable gross-to-net dynamics.
3. Future Reporting and TAM Outlook
Management guides modeling roughly 1,000 start forms—10% of the estimated 10,000-patient TAM—over nine to 12 months. After Q1, Soleno will discontinue start-form metrics and shift to traditional reporting focused on revenue and active patient counts once launch dynamics stabilize.