Shares of Soleno Therapeutics Inc. (NASDAQ:SLNO) declined 3.7% after the company priced its previously announced public offering at $85.00 per share. The offering includes 2,352,941 common shares, with an option for underwriters to purchase an additional 352,941 shares within 30 days. Gross proceeds from the offering are expected to total around $200 million before accounting for underwriting fees and other expenses.
The funds raised will primarily support the commercialization of VYKATT XR, which gained FDA approval on March 26, 2025, as the first treatment for hyperphagia in patients with Prader-Willi syndrome. Beyond commercialization, Soleno plans to allocate proceeds toward regulatory and market expansion efforts in the European Union, ongoing research and development, and general corporate needs.
The offering is being co-managed by Goldman Sachs & Co. LLC, Guggenheim Securities, TD Cowen, Cantor, and Oppenheimer & Co., with the closing anticipated around July 11, 2025, subject to customary conditions.
Focused on rare disease therapeutics, Soleno Therapeutics’ recent milestone marks its first FDA-approved product with VYKATT XR.
Soleno Therapeutics stock price
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