Soleno Therapeutics falls after $200 million stock sale priced

Soleno Therapeutics

10/07/2025 15:02

Updates

** Drugmaker Soleno Therapeutics' SLNO.O shares fall 5.2% to $83.88 in early trading after $200 million stock offering priced

** SLNO
sold
 ~2.4 million shares at $85 apiece, a 4% discount to stock's last close

** Goldman Sachs, Guggenheim Securities, TD Cowen, Cantor and Oppenheimer were the joint book-running managers

** Proceeds will be used to fund commercialization of rare disease drug Vykat XR and to fund regulatory and market development activities in the European Union, among other purposes

** The drug, which was approved by the U.S. Food and Drug Administration in March, treats hyperphagia in individuals with Prader-Willi syndrome

** Co expects net revenue from sales of Vykat XR to be between $31 million and $33 million for the three months ended June 30

** SLNO had 49.5 million outstanding shares as of March 31, according to prospectus

** As of last close, SLNO stock has nearly doubled YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))