Neurocrine Biosciences Inc. (NASDAQ:NBIX) shares are down during Monday’s premarket session.

The company announced plans to acquire Soleno Therapeutics Inc. (NASDAQ:SLNO) for $53.00 per share in cash, totaling approximately $2.9 billion.

The company plans to finance the transaction using cash on hand along with pre-payable debt.

As of December 31, 2025, Neurocrine reported cash, cash equivalents, and marketable securities of approximately $2.54 billion.

Strategic Rationale

The acquisition aims to expand Neurocrine’s portfolio with Vykat XR, the first FDA-approved treatment for hyperphagia in Prader-Willi syndrome, which could significantly enhance its revenue potential as the company strengthens its position in the endocrinology and rare disease markets. The deal is expected to close within 90 days.

The acquisition of Soleno Therapeutics is a strategic move for Neurocrine, as it adds a high-growth product to its lineup, potentially driving long-term revenue growth.

Vykat XR has already shown strong early adoption, generating $190 million in revenue ...