Soleno gains as US FDA approves its drug to treat rare genetic disorder

Shares of Soleno Therapeutics SLNO.O rise 33.98% to $65.61 premarket

Late on Wednesday, U.S. FDA approved co's drug to treat a rare genetic disorder, making it first treatment available for patients who experience feelings of intense and persistent hunger

The drug, to be called Vykat XR, treats hyperphagia, the hallmark symptom of the Prader-Willi syndrome, a genetic disorder that is caused by an error in one or more genes

The drug will have an annual average cost of $466,200 and will be dosed as per patients' weight and will be available from April

Up to last close, stock up ~9% YTD