Soleno Therapeutics said on Tuesday it has voluntarily withdrawn the European marketing application for its ​rare metabolic disorder drug following acquirer Neurocrine's ‌plans to sharpen focus on the U.S. market.

Neurocrine Biosciences (NBIX) is moving to acquire Soleno Therapeutics (SLNO) for $2.9 billion in a deal that could expand its presence in rare genetic disorder

Neurocrine Biosciences, Inc. (NBIX) M&A Call Transcript

Neurocrine Biosciences (NASDAQ:NBIX) has agreed to acquire Soleno Therapeutics (NASDAQ:SLNO) in an all-cash transaction valued at approximately $2.9 billion, it was announced on Monday. Under the terms of the agreement, Neurocrine will pay $53 per share for Soleno, representing a premium of about 34% over Soleno's closing stock price on April 2, 2026, and roughly 51% above its 30-day average.

Neurocrine Biosciences agreed to buy Soleno Therapeutics for $2.9 billion in a move intended to expand its endocrinology and rare-disease portfolio.

Neurocrine's reported biotech buy, Coinbase's new regulatory approval, and more

Neurocrine Biosciences stock fell after the merger was announced.

PepsiCo (PEP) drops sponsorship of a major London music festival after controversy over Kanye West as headliner. Anthropic is being courted by the UK for a London expansion and potential dual listing, amid ongoing legal issues with the US government.

Neurocrine ‌Biosciences will ​acquire ​rare disease drugmaker ⁠Soleno ​Therapeutics ​for $2.9 billion in ​cash, ​the companies said ‌on ⁠Monday.

Soleno Therapeutics stock is soaring on Monday in premarket after a report that Neurocrine is nearing a deal to buy the company.