On July 10, 2025, Soleno Therapeutics, Inc., a biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, announced the pricing of its previously underwritten public offering of 2,352,941 shares of its common stock at a public offering of $85.00 per share. Additionally, Soleno has granted the underwriters a 30-day option to purchase up to an additional 352,941 shares of its common stock at the public offering price. The gross proceeds from the offering are expected to be approximately $200 million. The offering is expected to close on or about July 11, 2025. Banks including Goldman Sachs & Co. LLC and Guggenheim Securities acted as joint book-running managers. Wilson Sonsini Goodrich & Rosati is advising Soleno on the transaction.

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. Soleno also plans to use the proceeds for regulatory and market development activities in the European Union, and other general corporate purposes, which may include working capital, capital expenditures, other clinical trials, other corporate expenses and acquisitions of complementary products, technologies, or businesses.

The Wilson Sonsini team representing Soleno Therapeutics in the transaction is Elton Satusky, Nathan Robinson, and Kevin Roesser.

For more information, please see Soleno Therapeutics’ press release.