Soleno Therapeutics Stock Surges After FDA Approves Rare Disease Drug

Soleno Therapeutics received FDA approval for Vykat XR, the first treatment for hyperphagia in Prader-Willi syndrome, a rare genetic disorder. This approval led to Soleno's stock surging nearly 45%, reflecting the market's positive response to the new treatment option. The drug, priced at an annual average of $466,200, is expected to significantly impact the lives of PWS patients by addressing their insatiable hunger. Soleno's executives were rewarded with stock bonuses as a result of this milestone. Despite the approval, some investors remain bearish on Soleno's stock, highlighting mixed market sentiments. Analysts project substantial future revenue from Vykat XR, estimating peak annual sales to exceed a billion dollars.