The acquisition significantly strengthens Neurocrine's portfolio in endocrinology and rare diseases with a first-in-class therapy that has demonstrated strong commercial traction. The $92 million in Q4 2025 revenue suggests accelerating adoption of VYKATTM XR, which could drive substantial revenue growth post-acquisition. Traders should monitor integration progress and potential synergies, as well as any regulatory developments that could impact the expected 90-day closing timeline.
Price Chart
Executive Summary
Neurocrine Biosciences will acquire Soleno Therapeutics for $53.00 per share in cash, representing a total equity value of $2.9 billion. The acquisition includes Soleno's FDA-approved treatment VYKATTM XR for Prader-Willi syndrome, which generated $190 million in 2025 revenue. The deal is expected to close within 90 days, subject to regulatory approvals and other customary conditions.
Key Financial Metrics
Key Facts
- Neurocrine Biosciences will acquire Soleno Therapeutics for $53.00 per share in cash
- Total transaction equity value is $2.9 billion
- VYKATTM XR generated $190 million in 2025 revenue, including $92 million in Q4 2025
- The deal represents a 34% premium to Soleno's closing price on April 2, 2026
- The acquisition is expected to close within 90 days of announcement
- The transaction is funded with cash on hand and modest pre-payable debt
Financial Impact
Total equity value of $2.9 billion with $53.00 per share cash payment
Risk Factors
- Regulatory approval delays
- Integration challenges between the two companies
- Potential competition from alternative treatments for Prader-Willi syndrome
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-142911 |
| Document: d142985dex101.htm | 0001193125-26-142911 |
| Document: d142985d8k.htm | 0001193125-26-142911 |
| Document: d142985dex991.htm | 0001193125-26-142911 |
| Document: 0001193125-26-142911-index-headers.html | 0001193125-26-142911 |
| Document: 0001193125-26-142911-index.html | 0001193125-26-142911 |
| Document: 0001193125-26-142911.txt | 0001193125-26-142911 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | Institutional Cluster | — | awaiting T+1 | — | — |
Jun 11, 2026 16w ago | Institutional Cluster | — | awaiting T+1 | — | — |
May 28, 2026 18w ago | 15-12G | — | awaiting T+1 | — | — |
May 28, 2026 18w ago | EFFECT | — | awaiting T+1 | — | — |
May 18, 2026 19w ago | 8-K / 25-NSE | $53.01 $53.01 | · 0.00% | ▲ +0.65% | — |
Apr 7, 2026 25w ago | 8-K | $52.35 $52.60 | ▼ −0.48% | ▲ +2.06% | — |
Apr 6, 2026 25w ago | 8-K | $52.25 $52.35 | ▲ +0.19% | ▲ +0.13% | — |
Mar 27, 2026 27w ago | Insider Cluster | $30.05 $30.44 | ▲ +1.30% | ▲ +1.66% | — |
Feb 26, 2026 31w ago | 8-K | $38.09 $39.07 | ▲ +2.57% | ▲ +3.03% | — |
Feb 25, 2026 31w ago | 8-K | $41.01 $38.09 | ▼ −7.12% | ▼ −6.57% | — |
US Market Status
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