Soleno to Launch $200M Stock Offering

Soleno Therapeutics Announces $200 Million Stock Offering

Soleno Therapeutics (NASDAQ:SLNO) has unveiled plans to raise $200 million through a public offering of common stock. The biotech company aims to use the proceeds to fund the commercialization of VYKAT™ XR, its recently approved therapy for hyperphagia in Prader-Willi syndrome. Additionally, the funds will support regulatory activities, ongoing research, and general corporate purposes.

The offering will be managed by Goldman Sachs and Guggenheim Securities, with underwriters granted an option to purchase up to an additional $30 million in shares. The shares will be offered through a previously filed registration statement on Form S-3ASR with the SEC. The completion of the offering is subject to market conditions and other regulatory approvals.

Funding the Commercialization of VYKAT XR

VYKAT XR, a once-daily oral treatment, is Soleno’s first commercial product. It is designed to address hyperphagia, a condition characterized by excessive hunger, in adults and children aged 4 years and older with Prader-Willi syndrome. The therapy received approval after demonstrating efficacy in clinical trials, marking a significant milestone for the company and patients.

"This offering is a critical step in bringing VYKAT XR to a broader patient population," said a company spokesperson. "The funds will enable us to scale production, expand our commercial footprint, and continue our commitment to improving the lives of those affected by Prader-Willi syndrome."