Neurocrine to buy Soleno Therapeutics for $2.9 billion
Neurocrine to buy Soleno Therapeutics for $2.9 billion
ReutersMon, April 6, 2026 at 11:12 AM UTC
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FILE PHOTO: U.S. dollar banknotes and medicines are seen in this illustration taken, June 27, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
April 6 (Reuters) - Neurocrine Biosciences will acquire rare disease drugmaker Soleno Therapeutics for $2.9 billion in cash, the companies said on Monday, marking the neuroscience-focused drugmaker's expansion into metabolic disorders.
Neurocrine has offered $53 per Soleno share held, which represents a premium of about 34% to stock's last close.
Soleno shares, which had risen more than 30% in premarket trading after the Financial Times first reported the news, were halted.
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The deal gives Neurocrine access to Vykat XR, the first drug approved in the U.S. to treat hyperphagia associated with Prader-Willi syndrome, a rare genetic disorder.
Hyperphagia, or feelings of intense and persistent hunger, is the hallmark symptom of Prader-Willi syndrome and can lead to severe obesity as well as physical, mental and behavioural problems.
(Reporting by Gnaneshwar Rajan and Mariam Sunny in Bengaluru; Editing by Vijay Kishore and Sriraj Kalluvila)
Source: “AOL Money”
