Stock Market Today, April 6: Soleno Therapeutics Climbs After $2.9 Billion All-Cash Buyout Agreement

By Josh Kohn-Lindquist – Apr 6, 2026 at 5:20PM ESTExpandNASDAQ: SLNOSoleno TherapeuticsToday's Change(32.31%) $12.76Current Price$52.25Key Data PointsMarket Cap$2.0BDay's Range$52.15 - $52.3852wk Range$29.43 - $90.32Volume58MAvg Vol1.7MGross Margin98.32%Soleno Therapeutics (SLNO +32.31%), a rare-disease drug developer, closed Monday at $52.26, up 32.31%. The stock’s move reflects Neurocrine Biosciences’ (NBIX +0.62%) $53-per-share all-cash acquisition offer for Soleno. Investors are watching for any deal-related regulatory or closing risks. Trading volume reached 58 million shares, coming in about 2,148% above its three-month average of 2.6 million shares. Soleno Therapeutics IPO'd in 2014 and has fallen 96% since going public.How the markets moved todayThe S&P 500 gained 0.43% to finish Monday at 6,611, while the Nasdaq Composite added 0.54% to close at 21,996. Among biotechnology industry peers, Rezolute closed at $3.26, up 4.49%, and Ligand Pharmaceuticals ended at $203.61, rising 1.61%, as deal activity and drug data kept the group in focus.What this means for investorsNeurocrine Biosciences reinforced its rare-disease drug portfolio on Monday, acquiring Soleno Therapeutics and its VYKAT XR treatment for hyperphagia in patients with Prader-Willi Syndrome (PWS). Soleno’s main drug, the first and only FDA-approved treatment for hyperphagia in patients with PWS, was launched in March 2025 and has delivered sales of $33 million, $66 million, and $92 million over the last three quarters.Home to $2.5 billion in cash, Neurocrine’s offer of $2.9 billion for Soleno doesn’t break the bank and adds a third commercial drug for the biotech. VYKAT XR’s intellectual property should run through the 2040’s, adding serious long-term potential for Neurocrine. Trading at 18 times FCF, Neurocrine is an interesting stock to watch should this deal go through.Read NextApr 6, 2026 •By Eric VolkmanWhy Soleno Therapeutics Stock Rocketed Higher on MondayApr 4, 2026 •By Parkev Tatevosian, CFAUnitedHealth Stock Analysis: Generational Buying Opportunity or a Falling Knife to Avoid?Apr 4, 2026 •By Justin PopeEli Lilly's One-Two Punch Could Knock Novo Nordisk Out of the Obesity Drug FightApr 4, 2026 •By Lee SamahaBetter Healthcare Stock to Own in a Recession: Defensive or Growth?Apr 6, 2026 •By Eric TrieStock Market Today, April 6: Kosmos Energy Rises to 52-Week High as Shares Outpace Analyst TargetsApr 6, 2026 •By Emma NewberyStock Market Today, April 6: Iran Conflict Continues to Dominate MarketsAbout the AuthorJosh Kohn-Lindquist is a contributing Motley Fool stock market analyst covering consumer goods, industrials, and technology stocks. Previously, Josh was a senior mutual fund accountant at Gemini Fund Services. He holds a bachelor’s degree in business management from the University of South Dakota.TMFJorykoX@JorykoliStocks MentionedSoleno TherapeuticsNASDAQ: SLNO$52.28(+32.39%)+$12.79*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.