Neurocrine buys Soleno for $2.9B
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- Neurocrine Biosciences said Monday it will buy Soleno Therapeutics in a $2.9 billion deal, paying $53 per share
- The $53-per-share offer represents a 34% premium to Soleno's Thursday closing price
- Soleno's drug Vykat was approved in March 2025 to treat hyperphagia in patients with Prader-Willi syndrome
- Vykat targets hyperphagia, one of the defining features of Prader-Willi syndrome, a rare genetic condition that causes relentless hunger and leads patients to overeat
- Vykat is the only approved treatment for hyperphagia in Prader-Willi patients, according to the source
Why it matters: Neurocrine is paying a 34% premium to grab the sole FDA-approved treatment for a rare-disease symptom that Prader-Willi patients have no other option to manage. For Soleno, the deal monetizes a successful early launch; for Neurocrine, it adds a rare-disease asset with no near-term competitive threat on the label.
