Neurocrine Biosciences Acquires Soleno Therapeutics for $2.9 Billion to Expand Rare Disease Portfolio with VYKAT XR

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Neurocrine Biosciences agreed to acquire Soleno Therapeutics for $53 per share in cash, totaling $2.9 billion equity value, announced on April 6, 2026.12

VYKAT XR (diazoxide choline) is the first FDA-approved treatment for hyperphagia in Prader-Willi syndrome, approved in March 2025, generating $190 million in 2025 revenue.13

The deal expands Neurocrine's portfolio to three first-in-class medicines:
INGREZZA, CRENESSITY, and VYKAT XR, strengthening its position in endocrinology and rare diseases.1

The acquisition offers a 34-51% premium to Soleno's recent share prices and is expected to close within 90 days.23

Analysts view the deal as strategically sound for Neurocrine but surprising for Soleno given VYKAT XR's growth potential.3

Sources:

1. https://www.biospace.com/press-releases/neurocrine-to-acquire-soleno-therapeutics-expanding-its-endocrinology-and-rare-disease-portfolio

2. https://www.statnews.com/2026/04/06/neurocrine-biosciences-soleno-therapeutics-acquisition-prader-willi-vykat/

3. https://www.biospace.com/deals/neurocrine-nabs-rare-obesity-disorder-drug-in-surprising-2-9b-soleno-deal