Healthcare Equipment and Supplies
Company Overview of Capnia, Inc.
Capnia, Inc. develops and commercializes neonatology devices, diagnostics, and therapeutics platform based on its proprietary technology for precision metering of gas flow primarily in the United States. The company offers CoSense, an end-tidal carbon monoxide monitor, for the diagnosis of excessive hemolysis in neonates with jaundice, a condition that causes long-term developmental disability due to the degradation of red blood cells. It also develops Serenz, a therapeutic product candidate that has completed Phase II clinical trials for the treatment of symptoms related to allergic rhinitis. In addition, the company provides NeoPip T-piece resuscitator and related consumables, which delive...
1235 Radio Road
Redwood City, CA 94065
Founded in 1999
Key Executives for Capnia, Inc.
Chief Executive Officer, President and Director
Total Annual Compensation: $620.2K
Chief Financial Officer and Senior Vice President
Total Annual Compensation: $313.0K
Senior Vice President of Research and Development
Total Annual Compensation: $307.9K
Compensation as of Fiscal Year 2015.
Capnia, Inc. Key Developments
Capnia, Inc. Announces Board Appointments
Dec 27 16
On December 22, 2016, Essentialis, Inc. (“Essentialis”), Capnia, Inc. (“Capnia”), Company E Merger Sub, Inc., a wholly-owned subsidiary of Capnia (“Merger Sub”), and Neil Cowen, in his capacity as stockholders’ representative, entered into an Agreement and Plan of Merger pursuant to which, if the transactions contemplated by the Merger Agreement are consummated, at the effective time of the Merger, Merger Sub will merge with and into Essentialis with Essentialis surviving the Merger as a wholly owned subsidiary of Capnia. Upon consummation of the Merger, the size of the Capnia board of directors will be increased to 9 members, and Mahendra Shah, Jim Glasheen and Stuart Collinson will be appointed to the Capnia board to fill vacancies on the board.
Capnia, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
Nov 14 16
Capnia, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total revenue of $329,000 compared to $247,000 a year ago. Net loss attributable to common stockholders was $6,401,000 or $0.41 per basic and diluted share compared to $3,293,000 or $0.33 per basic and diluted share a year ago. Operating loss was $2,941,000 compared to $3,183,000 a year ago.
For the nine months, the company reported total revenue of $1,167,000 compared to $366,000 a year ago. Net loss attributable to common stockholders was $13,103,000 or $0.85 per basic and diluted share compared to $13,064,000 or $1.60 per basic and diluted share a year ago. Operating loss was $10,654,000 compared to $8,653,000 a year ago. The increase in revenue for the nine months ended September 30, 2016 versus the same period in 2015 was primarily a result of the revenue of NeoForce, a company acquired by Capnia in September of 2015.
Capnia Receives Non-Compliance Notice From Nasdaq
Oct 26 16
On October 24, 2016, Capnia, Inc. (Company) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (Nasdaq) indicating that, based upon the closing bid price of the Company’s common stock for the last 30 consecutive business days, the Company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). The letter also indicated that the Company will be provided with a compliance period of 180 calendar days, or until April 24, 2017, in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A). The letter further provided that if, at any time during the 180-day period, the closing bid price of the Company’s common stock is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation that it has achieved compliance with the minimum bid price requirement. If the Company does not regain compliance by April 24, 2017, an additional 180 days may be granted to regain compliance if the Company (i) meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market (except for the bid price requirement) and (ii) provides written notice of its intention to cure the deficiency during the second 180-day compliance period.
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