Neurocrine Biosciences to acquire Soleno Therapeutics in $2.9B deal

Neurocrine Biosciences (NASDAQ:NBIX) has agreed to get Soleno Therapeutics (NASDAQ:SLNO) successful an all-cash transaction valued astatine astir $2.9 billion, it was announced connected Monday.

Under the presumption of the agreement, Neurocrine volition wage $53 per stock for Soleno, representing a premium of astir 34% implicit Soleno’s closing banal terms connected April 2, 2026, and astir 51% supra its 30-day average.

Shares of Soleno surged much than 32% to astir $52 earlier Monday’s opening bell, portion Neurocrine banal was down 2% astatine $129.

The acquisition is focused connected Soleno’s pb product, VYKAT XR (diazoxide choline), a attraction for hyperphagia associated with Prader-Willi syndrome. The therapy, approved by the US Food and Drug Administration successful 2025, is the archetypal medicine specifically indicated for this condition, which is characterized by persistent hunger and tin pb to superior wellness complications.

Prader-Willi syndrome affects an estimated 10,000 radical successful the United States and involves a scope of neurological, metabolic, and behavioral symptoms. Hyperphagia, its astir salient feature, often results successful compulsive food-seeking behaviour and accrued hazard of morbidity.

VYKAT XR generated astir $190 cardinal successful gross successful 2025, including $92 cardinal successful the 4th quarter, reflecting aboriginal adoption pursuing its commercialized launch. Neurocrine said it plans to leverage its existing infrastructure to grow entree to the therapy and enactment continued growth.

The transaction is expected to fortify Neurocrine’s presumption successful endocrinology and uncommon diseases, adding to its portfolio of marketed treatments, including INGREZZA for question disorders and CRENESSITY for congenital adrenal hyperplasia.

"This transaction volition beforehand Neurocrine's ngo to present life-changing treatments portion accelerating our gross maturation and portfolio diversification strategy,” Neurocrine CEO Kyle Gano said successful a statement.

“We stock the Soleno team's heavy committedness to the Prader-Willi syndrome assemblage and look guardant to leveraging our acquisition and capabilities to grow VYKAT XR's scope to payment much patients, portion further strengthening Neurocrine's enactment successful delivering transformative medicines.”

The woody has been approved by the boards of some companies and is expected to adjacent wrong 90 days, pending regulatory approvals and different customary conditions.