Soleno Therapeutics to be Acquired by Neurocrine Biosciences for $2.9 Billion in All-Cash Deal

summarizeSummary

Neurocrine Biosciences will acquire Soleno Therapeutics for $53.00 per share in cash, totaling $2.9 billion, marking a significant premium for Soleno shareholders and integrating its key drug, VYKAT XR, into Neurocrine's portfolio.

check_boxKey Events

• Definitive Acquisition Agreement

  Neurocrine Biosciences has entered into a definitive agreement to acquire Soleno Therapeutics.

• All-Cash Tender Offer

  Neurocrine will acquire all outstanding shares of Soleno for $53.00 per share in cash.

• Total Equity Value

  The transaction represents a total equity value of approximately $2.9 billion.

• Significant Premium

  The offer price reflects a 34% premium to Soleno's closing share price on April 2, 2026.

auto_awesomeAnalysis

Neurocrine Biosciences has entered into a definitive agreement to acquire Soleno Therapeutics for $53.00 per share in an all-cash tender offer, valuing Soleno's equity at approximately $2.9 billion. This represents a significant premium for Soleno shareholders, with the offer price being 34% higher than Soleno's closing share price on April 2, 2026. The acquisition, which was unanimously approved by both companies' boards, will integrate Soleno's VYKAT XR, a recently FDA-approved therapy for hyperphagia in Prader-Willi syndrome, into Neurocrine's portfolio. This transaction is expected to close within 90 days, subject to customary closing conditions, including the tender of a majority of outstanding shares and regulatory approvals. The deal is not subject to a financing condition, as Neurocrine plans to fund it with cash on hand and modest debt. This acquisition fundamentally alters Soleno's future as an independent entity, providing a clear exit for shareholders at a substantial premium.