Neurocrine nears $2.5 billion deal for Soleno Therapeutics, FT reports

April 5 (Reuters) - Drugmaker Neurocrine Biosciences NBIX.O is nearing a deal to acquire rare genetics drugmaker Soleno Therapeutics SLNO.O for more than $2.5 billion, the Financial Time reported on Sunday.

Here are some details:

• The potential transaction could value Soleno in the low-to-mid $50s per share, the report said, adding that an announcement could come as early as Monday.

• Neurocrine and Soleno did not immediately respond to Reuters' requests for comment.

• Soleno's shares last closed at $39.49, giving it a market capitalisation of about $2.04 billion, according to Reuters calculations.

• The company's Vykat XR drug is used to treat Prader-Willi syndrome, a rare genetic disorder marked by constant hunger and developmental issues.

• Soleno went public in April 2024 and its shares have fallen roughly 5% since the IPO.

• Neurocrine, with a market value of $13.21 billion, has several approved drugs, including Ingrezza, which treats involuntary movements associated with Huntington's disease, a genetic brain disorder.