Soleno Therapeutics Acquisition, Valuation & Financials

Soleno Therapeutics was acquired by Neurocrine Biosciences for $2.9B in April 2026, a 15.3x multiple on $190M of revenue.

Soleno Therapeutics acquisition price

$2.9B

Acquired by Neurocrine Biosciences · Apr 2026

Soleno Therapeutics revenue at acquisition

$190M

Last twelve months · Apr 2026

Soleno Therapeutics revenue multiple at acquisition

15.3x

EV/Revenue · Apr 2026

Soleno Therapeutics EBITDA multiple before the deal

35.9x

EV/EBITDA · last month listed · Apr 2026

Soleno Therapeutics Overview

About Soleno Therapeutics

Soleno Therapeutics Inc is a biopharmaceutical company developing novel therapeutics for the treatment of rare diseases. Its product candidate DCCR (Diazoxide Choline) Extended-Release tablets, is a proprietary extended-release formulation of a crystalline salt of diazoxide. DCCR has demonstrated the ability to activate the KATP channel in the brain, pancreas, and fat tissue.


Founded

1999

HQ

United StatesUnited States

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$190M (Apr 2026)

Valuation

$2.9B (acquired Apr 2026)

Soleno Therapeutics Acquisition

Soleno Therapeutics was acquired by Neurocrine Biosciences for $2.9B on 5 April 2026.

The acquisition price implies a 15.3x revenue multiple on $190M of revenue.

Soleno Therapeutics acquisition details
AcquirerDateTypePriceEV/Revenue
5 Apr 2026Strategic M&A$2.9B15.3x

Soleno Therapeutics as a Public Company

Soleno Therapeutics traded as NAS: SLNO before it was taken private. Its acquisition was announced in April 2026. April 2026 is its last month on record as a listed company, with a market cap of $2.7B and an enterprise value of $2.5B.

Last-twelve-month revenue was $261M, with EBITDA of $69M (26% margin), and the shares traded at 9.5x EV/Revenue and 35.9x EV/EBITDA.

Over the 4 years before that, its market cap grew from $24M in April 2022 to $2.7B.

Soleno Therapeutics market cap while listed

Soleno Therapeutics EV/Revenue (LTM) while listed

Soleno Therapeutics financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EBITDA (LTM)EBITDA marginEV/RevenueEV/EBITDA
Apr 2026$2.7B$261M$69M26%9.5x35.9x
Apr 2025$3.7B$13M--262.8x-
Apr 2024$1.5B-----
Apr 2023$28M-----
Apr 2022$24M-----

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Soleno Therapeutics traded.

Soleno Therapeutics Competitors

Soleno Therapeutics competitors include listed companies like BioArctic, Betta Pharmaceuticals, Zealand Pharma and Regencell Bioscience, and private ones like Heyuan Biotechnology and NewLimit.

Public and private companies comparable to Soleno Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BioArcticSwedenSwedenPublicly listed$204M$126M$2.9B15.2x
Betta PharmaceuticalsChinaChinaPublicly listed$538M$155M$2.9B5.5x
Zealand PharmaDenmarkDenmarkPublicly listed$1.4B$1B$2.9B0.7x
Regencell BioscienceHong KongHong KongPublicly listed-($3M)$2.9B-
Heyuan BiotechnologyChinaShanghaiPrivate--$3B-
NewLimitUnited StatesSan Francisco, CAPrivate--$3.1B-

Soleno Therapeutics Public Comps

Soleno Therapeutics is no longer listed, but its public comps include BioArctic, Betta Pharmaceuticals, Zealand Pharma, Regencell Bioscience, Precigen, Virbac, Samchundang Pharm, Neuland Laboratories, Kangmei Pharmaceutical Co. and Amoytop Biotech.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
BioArctic$204M$126M13.2x15.2x21.3x34.8x
Betta Pharmaceuticals$538M$155M6.0x5.5x20.9x16.8x
Zealand Pharma$1.4B$1B0.5x0.7x0.6x1.3x
Regencell Bioscience-($3M)--(923.4x)-
Precigen$10M($247M)297.2x17.0x(11.7x)39.5x
Virbac$1.7B$325M1.9x1.8x9.9x9.0x
Samchundang Pharm$169M$15M16.7x-184.7x-
Neuland Laboratories$201M$61M15.0x13.1x49.3x44.6x

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Common questions about Soleno Therapeutics

When was Soleno Therapeutics founded?Soleno Therapeutics was founded in 1999.
Where is Soleno Therapeutics headquartered?Soleno Therapeutics is headquartered in United States.
Is Soleno Therapeutics publicly listed?No, Soleno Therapeutics was acquired by Neurocrine Biosciences in April 2026.
Who acquired Soleno Therapeutics?Soleno Therapeutics was acquired by Neurocrine Biosciences in April 2026.
How much was Soleno Therapeutics acquired for?Soleno Therapeutics was acquired for $2.9B in April 2026, a 15.3x revenue multiple.
Which companies are comparable to Soleno Therapeutics?Companies comparable to Soleno Therapeutics include BioArctic, Betta Pharmaceuticals, Zealand Pharma, Regencell Bioscience, Heyuan Biotechnology and NewLimit.
What was Soleno Therapeutics' market cap before the acquisition?Soleno Therapeutics had a market cap of $2.7B in April 2026, its last month on record as a listed company, trading at 9.5x EV/Revenue.
What was Soleno Therapeutics' revenue as a public company?Soleno Therapeutics' last reported twelve-month revenue was $261M (April 2026), with EBITDA of $69M.

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