06:22 AM EDT, 07/10/2025 (MT Newswires) -- Soleno Therapeutics ( SLNO ) on Thursday proposed to offer and sell $200 million of common shares in an underwritten public offering.

The company added that it intends to grant the underwriters a 30-day option to purchase up to an additional $30 million of shares.

Net proceeds from the offering will fund the commercialization of its FDA-approved VYKAT XR therapy for hyperphagia in individuals with Prader-Willi syndrome, a rare genetic disorder.

Soleno also plans 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, it said.