Neurocrine Biosciences (NASDAQ: NBIX) has agreed to acquire Soleno Therapeutics, Inc. (NASDAQ: SLNO) for $53.00 per share in cash, valuing the transaction at $2.9 billion.
The acquisition will add VYKAT™ XR, a first-in-class therapy for Prader-Willi syndrome, to Neurocrine’s portfolio, enhancing its position in endocrinology and rare diseases.
Neurocrine will initiate a cash tender offer for all outstanding shares of Soleno’s common stock at $53.00 per share, a 34 percent premium over Soleno’s closing price on April 2, 2026, and a 51 percent premium over its 30-day VWAP.
“This transaction will advance Neurocrine’s mission to deliver life-changing treatments while accelerating our revenue growth and portfolio diversification strategy.” said Kyle W. Gano, Ph.D., Chief Executive Officer, Neurocrine Biosciences.
Anish Bhatnagar, M.D., Chairman and Chief Executive Officer of Soleno, commented, “Neurocrine is the right strategic partner to expand the reach of VYKAT XR in the Prader-Willi syndrome community given their experience in endocrinology and rare disease and their proven ability to execute successful commercial launches.”
In pre-market trading, Neurocrine’s stock is down 1.98 percent to $129.00, a decrease from its previous close of $132.56. The stock’s 52-week range is between $84.23 and $160.18.
 will acquire Soleno Therapeutics (SLNO) for $2.9 billion, adding VYKAT XR to its portfolio.){kind=link}