Neurocrine Biosciences to buy Soleno Therapeutics in $2.9B deal

Neurocrine Biosciences said Monday that it would buy Soleno Therapeutics and its treatment for Prader-Willi syndrome for $2.9 billion. 

Neurocrine is paying $53 a share for Soleno, a 34% premium to its closing price on Thursday. 

Soleno’s drug, Vykat, was approved in March 2025 to treat hyperphagia in patients with the rare genetic disease. Hyperphagia is one of the defining features of Prader-Willi syndrome, causing relentless hunger and leading patients to overeat. Vykat is the only approved treatment for hyperphagia in Prader-Willi patients. 

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