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Soleno Therapeutics Announces Proposed $200 Million Public Offering of Common Stock

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Soleno Therapeutics (NASDAQ:SLNO) has announced plans for a $200 million public offering of common stock, with an additional 30-day option for underwriters to purchase up to $30 million of shares. The offering will be managed jointly by Goldman Sachs and Guggenheim Securities.

The proceeds will primarily fund the commercialization of VYKAT� XR, their recently FDA-approved therapy for hyperphagia in Prader-Willi syndrome. Additional funds will support EU regulatory activities, research and development, and general corporate purposes. The offering will be made through a previously filed Form S-3ASR registration statement.

Soleno Therapeutics (NASDAQ:SLNO) ha annunciato l'intenzione di effettuare un'offerta pubblica di azioni ordinarie per 200 milioni di dollari, con un'opzione aggiuntiva di 30 giorni per gli underwriter di acquistare fino a 30 milioni di dollari di azioni. L'offerta sarà gestita congiuntamente da Goldman Sachs e Guggenheim Securities.

I proventi saranno principalmente destinati alla commercializzazione di VYKAT� XR, la loro terapia recentemente approvata dalla FDA per l'iperfagia nella sindrome di Prader-Willi. Ulteriori fondi supporteranno le attività regolatorie nell'UE, la ricerca e sviluppo e scopi aziendali generali. L'offerta sarà effettuata tramite una dichiarazione di registrazione Form S-3ASR già depositata.

Soleno Therapeutics (NASDAQ:SLNO) ha anunciado planes para una oferta pública de acciones ordinarias por 200 millones de dólares, con una opción adicional de 30 días para que los suscriptores puedan comprar hasta 30 millones de dólares en acciones. La oferta será gestionada conjuntamente por Goldman Sachs y Guggenheim Securities.

Los fondos se destinarán principalmente a la comercialización de VYKAT� XR, su terapia recientemente aprobada por la FDA para la hiperfagia en el síndrome de Prader-Willi. Fondos adicionales apoyarán las actividades regulatorias en la UE, la investigación y desarrollo, y propósitos corporativos generales. La oferta se realizará a través de una declaración de registro Form S-3ASR previamente presentada.

Soleno Therapeutics (NASDAQ:SLNO)µç� 2ì–� 달러 규모ì� 보통ì£� 공개 발행 계íšì� 발표했으ë©�, ì¸ìˆ˜ì¸ì—ê²� 추가ë¡� 30ì� ë™ì•ˆ 최대 3천만 달러 ìƒë‹¹ì� 주ì‹ì� 매입í•� ìˆ� 있µç” 옵션ì� 제공합니ë‹�. ì´ë²ˆ ë°œí–‰ì€ Goldman Sachs와 Guggenheim Securitiesê°€ ê³µë™ìœ¼ë¡œ 관리합니다.

ìžê¸ˆì€ 주로 최근 FDA 승ì¸ì� ë°›ì€ í”„ëž˜ë�-윌리 ì¦í›„êµ°ì˜ ê³¼ì‹ì¦� 치료ì � VYKATâ„� XRì� ìƒì—…í™”ì— ì‚¬ìš©ë� 예정입니ë‹�. 추가 ìžê¸ˆì€ EU 규제 활ë™, 연구개발, ì¼ë°˜ 기업 목ì ì—ë„ ì§€ì›ë  것입니다. ì´ë²ˆ ë°œí–‰ì€ ì´ì „ì—� 제출ë� Form S-3ASR ë“±ë¡ ì‹ ì²­ì„œë¥¼ 통해 ì§„í–‰ë©ë‹ˆë‹�.

Soleno Therapeutics (NASDAQ:SLNO) a annoncé son projet d'offre publique de 200 millions de dollars en actions ordinaires, avec une option supplémentaire de 30 jours permettant aux souscripteurs d'acheter jusqu'à 30 millions de dollars d'actions. L'offre sera gérée conjointement par Goldman Sachs et Guggenheim Securities.

Les fonds seront principalement utilisés pour la commercialisation de VYKAT� XR, leur thérapie récemment approuvée par la FDA pour l'hyperphagie dans le syndrome de Prader-Willi. Des fonds supplémentaires soutiendront les activités réglementaires dans l'UE, la recherche et développement, ainsi que des fins corporatives générales. L'offre sera réalisée via une déclaration d'enregistrement Form S-3ASR déposée précédemment.

Soleno Therapeutics (NASDAQ:SLNO) hat Pläne für ein öffentliches Angebot von Stammaktien im Wert von 200 Millionen US-Dollar angekündigt, mit einer zusätzlichen 30-tägigen Option für Underwriter, bis zu 30 Millionen US-Dollar an Aktien zu erwerben. Das Angebot wird gemeinsam von Goldman Sachs und Guggenheim Securities verwaltet.

Die Erlöse werden hauptsächlich zur Kommerzialisierung von VYKAT� XR verwendet, ihrer kürzlich von der FDA zugelassenen Therapie gegen Hyperphagie beim Prader-Willi-Syndrom. Weitere Mittel unterstützen regulatorische Aktivitäten in der EU, Forschung und Entwicklung sowie allgemeine Unternehmenszwecke. Das Angebot erfolgt über eine zuvor eingereichte Form S-3ASR-Registrierungserklärung.

Positive
  • Recently received FDA approval for VYKATâ„� XR, first approved therapy for Prader-Willi syndrome hyperphagia
  • Substantial capital raise of $200 million with potential additional $30 million
  • Funds will support commercialization and expansion into European markets
Negative
  • Significant dilution expected for existing shareholders through new share issuance
  • No specific agreements or commitments for business development despite mentioning potential acquisitions
  • Offering subject to market conditions with no guarantee of completion

Insights

Soleno raising $200M to commercialize its newly-approved Prader-Willi syndrome drug VYKAT XR, strengthening financial position for market launch.

Soleno Therapeutics is executing a significant $200 million public offering of common stock to fund the commercialization of VYKAT XR, the company's recently approved therapy for hyperphagia in Prader-Willi syndrome (PWS). The offering includes an additional $30 million option for underwriters, potentially bringing the total to $230 million.

This capital raise comes at a strategically important time - just over three months after VYKAT XR received FDA approval on March 26, 2025. The therapy represents a meaningful advancement as the first approved treatment specifically addressing hyperphagia (excessive hunger) in PWS patients, a rare genetic disorder affecting approximately 1 in 15,000 births.

The financing will support not only the U.S. commercialization but also fund regulatory and market development activities in the European Union, potentially expanding the therapy's reach. This dual-market strategy could significantly increase the addressable patient population.

Goldman Sachs and Guggenheim Securities serving as joint book-running managers adds credibility to this offering. The size of the raise ($200-230 million) is substantial relative to most biotechnology companies commercializing their first product, suggesting strong institutional interest and confidence in VYKAT XR's market potential.

This offering will substantially strengthen Soleno's balance sheet, providing crucial resources for the critical early commercialization phase when revenue generation is beginning but significant investments in sales infrastructure, market access, and physician education are required. The additional capital for research and development also indicates the company is planning pipeline expansion beyond its lead asset.

REDWOOD CITY, Calif., July 10, 2025 (GLOBE NEWSWIRE) -- Soleno Therapeutics, Inc. (Soleno) (Nasdaq:SLNO), a biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, announced today that it intends to offer and sell $200 million of shares of its common stock in an underwritten public offering. In addition, Soleno intends to grant the underwriters a 30-day option to purchase up to an additional $30 million of shares of common stock. The proposed public offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC and Guggenheim Securities are acting as the joint book-running managers for the proposed public offering.

Soleno intends to use the net proceeds from this offering to fund the commercialization of VYKAT™ XR, the first approved therapy to address hyperphagia in individuals with Prader-Willi syndrome, which was approved by the U.S. Food and Drug Administration on March 26, 2025. Soleno also intends to use the proceeds from the public offering to fund its regulatory and market development activities in the European Union and further research and development efforts, as well as general corporate purposes, which may include working capital, capital expenditures, other clinical trials, other corporate expenses and acquisitions of complementary products, technologies or businesses, though the company does not have agreements or commitments for any specific acquisitions at this time.

The shares will be offered pursuant to a registration statement on Form S-3ASR (File No. 333-276344) previously filed with, and automatically declared effective by, the Securities and Exchange Commission (the “SECâ€�) on January 2, 2024. The offering is being made solely by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attention: Prospectus Department, by telephone at (866) 471-2526, or by email at [email protected]; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, New York 10017, by telephone at (212) 518-9544, or by email at [email protected]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at . The final terms of the public offering will be disclosed in a final prospectus supplement and accompanying prospectus relating to the offering that will be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Soleno Therapeutics, Inc.

Soleno is focused on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company’s first commercial product, VYKAT XR (diazoxide choline) extended-release tablets, formerly known as DCCR, is a once-daily oral treatment for hyperphagia in adults and children 4 years of age and older with Prader-Willi syndrome.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding Soleno’s expectations on the completion, timing and size of the proposed public offering, Soleno’s intention to grant the underwriters a 30-day option to purchase additional shares, the anticipated use of proceeds therefrom, and all other statements that are not statements of historical facts. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, as well as risks and uncertainties inherent in Soleno’s business, including those described in Soleno’s Annual Report on Form 10-K for the year ended December 31, 2024, Soleno’s Quarterly Report on Form 10-Q for the three month period ended March 31, 2025, prior press releases and in other filings and reports filed with the SEC. The events and circumstances reflected in Soleno’s forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, Soleno does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Corporate Contact:

Brian Ritchie
LifeSci Advisors, LLC
212-915-2578

Media Contact:


FAQ

How much is Soleno Therapeutics (SLNO) planning to raise in their public offering?

Soleno is planning to raise $200 million through a public offering of common stock, with an additional 30-day option for underwriters to purchase up to $30 million in shares.

What will Soleno Therapeutics use the proceeds from their 2025 offering for?

The proceeds will primarily fund the commercialization of VYKAT� XR for Prader-Willi syndrome, support EU regulatory activities, fund R&D efforts, and general corporate purposes including potential acquisitions.

When was Soleno's VYKAT� XR approved by the FDA?

VYKAT� XR was approved by the FDA on March 26, 2025 as the first approved therapy for hyperphagia in Prader-Willi syndrome.

Who are the underwriters for Soleno Therapeutics' 2025 public offering?

Goldman Sachs & Co. LLC and Guggenheim Securities are acting as the joint book-running managers for the proposed public offering.

What is VYKAT� XR approved to treat?

VYKAT� XR is approved to treat hyperphagia (excessive hunger) in individuals with Prader-Willi syndrome, being the first approved therapy for this condition.
Soleno Therapeutics Inc

NASDAQ:SLNO

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4.16B
47.40M
2.93%
113.72%
10.48%
Biotechnology
Electromedical & Electrotherapeutic Apparatus
United States
REDWOOD CITY