Soleno jumps on report of potential $2.5 billion Nuerocrine deal

Shares of Soleno therapeutics SLNO.O rise 28.8% to $50.8 premarket

Neurocrine Biosciences NBIX.O is nearing a more than $2.5 bln deal to acquire SLNO, the Financial Times reported on Sunday

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

Soleno's Vykat XR drug is used to treat a rare genetic disorder called Prader-Willi syndrome

Average rating of 13 analysts is "buy", their median PT is $107 - data compiled by LSEG

Up to last close, SLNO has fallen 14.7% this year