Joint Bookrunner on Soleno Therapeutics' Confidentially Marketed Public Offering

Oppenheimer & Co. Inc. acted as Joint Bookrunner on Soleno Therapeutics’ $200.0MM Confidentially Marketed Public Offering

Soleno Therapeutics, Inc. (Nasdaq: SLNO), a biopharmaceutical company developing novel therapeutics for the treatment of rare diseases, announced that it has priced its announced underwritten public offering of 2,352,941 shares of its common stock at a price to the public of $85.00 per share. All of the shares are being sold by Soleno. In addition, 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 before deducting underwriting discounts and commissions and other offering expenses, assuming no exercise of the underwriters’ option to purchase additional shares.

Soleno intends to use the net proceeds from this offering to fund the commercialization of VYKATTM XR, the first approved therapy to address hyperphagia in individuals with Prader-Willi syndrome, which was approved by the U.S. Food and Drug Administration on March 26, 2025. Soleno also intends to use the proceeds from the public offering to fund its regulatory and market development activities in the European Union and further research and development efforts, as well as general corporate purposes, which may include working capital, capital expenditures, other clinical trials, other corporate expenses and acquisitions of complementary products, technologies or businesses, though the company does not have agreements or commitments for any specific acquisitions at this time.