Soleno Therapeutics Stock Jumps After Neurocrine’s $2.9 Billion Bet on Vykat XR
Neurocrine Biosciences will acquire Soleno Therapeutics for $53 a share in cash, valuing Soleno at $2.9 billion. The deal gives Neurocrine Vykat XR, the only FDA-approved treatment for hyperphagia in Prader-Willi syndrome. Soleno shares last traded at $52.25. The transaction is expected to close within 90 days, pending regulatory and shareholder approval.