Neurocrine Biosciences, Inc. (NBIX) has announced a definitive agreement to acquire Soleno Therapeutics, Inc. (SLNO) for $53 per share, totaling an equity value of $2.9 billion. This cash tender offer represents a significant premium of approximately 34% over Soleno’s closing price on April 2 and 51% over its 30-day volume-weighted average price. The acquisition, which will be funded through cash reserves and a modest amount of debt, is expected to close within 90 days.
This strategic move enhances Neurocrine’s portfolio by adding VYKAT XR, the first FDA-approved treatment for hyperphagia in Prader-Willi syndrome, which generated $190 million in revenue in 2025. The deal not only strengthens Neurocrine’s foothold in the endocrinology and rare disease sectors but also bolsters its long-term revenue growth potential with three marketed, first-in-class medicines.
Market professionals should note the immediate impact on stock performance, with Soleno’s shares rising 39% pre-market, while Neurocrine’s stock is down 2.74%. This divergence highlights investor sentiment regarding the strategic value of the acquisition.
Source: nasdaq.com