Neurocrine to buy Soleno for $2.9B, gaining obesity drug
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- Neurocrine Biosciences announced a $2.9 billion cash deal to acquire Soleno Therapeutics.
- Soleno Therapeutics shares surged 32.3 % after the acquisition announcement.
- Neurocrine’s own stock rose about 1 % on the news.
- VYKAT XR, Soleno’s approved therapy for Prader‑Willi syndrome, gives Neurocrine its first metabolic‑disorder drug, projected to generate $450 million in revenue this year.
- BMO Capital Markets called the acquisition a “more sensible way into metabolic disease” compared with Neurocrine’s prior plan to test CRF1/CRF2 antagonists.
- Jude Onyia, Neurocrine’s chief scientific officer, highlighted CRF2 as a differentiated obesity target amid a crowded GLP‑1 market.
- Soleno is being purchased at $53 per share in cash, a 36% premium to its previous close of $39.50.
Why it matters: The deal gives Neurocrine a foothold in the lucrative obesity market, adding a therapy projected to earn $450 million this year, while Soleno’s shareholders receive a 36% premium. At the same time, Neurocrine’s stock, already down 6.4% YTD, may benefit from the acquisition’s strategic shift away from GLP‑1 competition.
