Soleno Therapeutics (SLNO)
Commercializes VYKAT XR for hyperphagia in Prader-Willi syndrome.
Something off on this page? Send us feedback.
Soleno Therapeutics commercializes VYKAT XR, an FDA-approved oral treatment for hyperphagia in Prader-Willi syndrome. The company is a rare-disease biotech with a U.S. launch centered on one product and a pending acquisition by Neurocrine.
Soleno Therapeutics is a Redwood City, California biopharmaceutical company focused on rare diseases. Its business shifted from development to commercialization after FDA approval of VYKAT XR, a once-daily diazoxide choline extended-release tablet for hyperphagia in adults and children with Prader-Willi syndrome. The company’s commercial activity is concentrated in the United States, where VYKAT XR is sold through a physician prescription and patient-support model.
Prader-Willi syndrome is a rare genetic neurodevelopmental disorder whose defining symptom is persistent hunger and food-seeking behavior, so Soleno’s market is defined by a narrow, high-need patient group rather than broad primary care use. The product label requires monitoring for elevated glucose and fluid overload, and the company’s revenue base is tied to one marketed drug. Neurocrine has agreed to acquire Soleno, subject to tender-offer, regulatory, and other closing conditions.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $255.6M · Total debt $4.4M · Total assets $608.4M · Shareholders' equity $495.8M
- Revenue
- $94.6M
- Operating income
- $31.8M
- Net income
- $31.4M
No dividends on record.
| Insiders | 0.29% | 151.2K shares | |
|---|---|---|---|
| 2 holders · as of Jan 23, 2026 | |||
| Strategic holders | 59.78% | 31.16M shares | |
| 5 holders · as of May 15, 2026 | |||
| Other | 39.93% | 20.81M shares | |
| remainder | |||
52.12M company shares as of Sep 23, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Vivo Ventures V, LLC1Strategic10 percent owner | 31.35% | 15.51M | filed Dec 3, 2019 |
Wellington Management Group LLPStrategic | 8.49% | 4.43M | filed May 15, 2026 |
Janus Henderson Group PLCStrategic | 7.99% | 4.16M | filed Oct 3, 2024 |
Avoro Capital Advisors LLCStrategic | 6.80% | 3.54M | filed Apr 24, 2026 |
State Street CorporationStrategic | 5.14% | 2.68M | filed May 12, 2026 |
- Vivo Ventures V, LLC's transaction reports restate only vehicles that traded; the 2017 ownership statement (15.51M) plus the 830.5K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 27, 2026 | Michael F. Huang | officer: Sr. VP of Clinical Development | −6,582 | $30.44 |
| Mar 27, 2026 | Meredith Manning | officer: Chief Commercial Officer | −7,522 | $30.44 |
Not reported.