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- Soleno Therapeutics
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 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
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$190M (Apr 2026)
Valuation
$2.9B (acquired Apr 2026)
Sectors
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.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 5 Apr 2026 | Strategic M&A | $2.9B | 15.3x |
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
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Apr 2026 | $2.7B | $261M | $69M | 26% | 9.5x | 35.9x |
| 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $204M | $126M | $2.9B | 15.2x | ||
| Publicly listed | $538M | $155M | $2.9B | 5.5x | ||
| Publicly listed | $1.4B | $1B | $2.9B | 0.7x | ||
| Publicly listed | - | ($3M) | $2.9B | - | ||
| Private | - | - | $3B | - | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $204M | $126M | 13.2x | 15.2x | 21.3x | 34.8x | |||
| $538M | $155M | 6.0x | 5.5x | 20.9x | 16.8x | |||
| $1.4B | $1B | 0.5x | 0.7x | 0.6x | 1.3x | |||
| - | ($3M) | - | - | (923.4x) | - | |||
| $10M | ($247M) | 297.2x | 17.0x | (11.7x) | 39.5x | |||
| $1.7B | $325M | 1.9x | 1.8x | 9.9x | 9.0x | |||
| $169M | $15M | 16.7x | - | 184.7x | - | |||
| $201M | $61M | 15.0x | 13.1x | 49.3x | 44.6x | |||
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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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