---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-228013"
form_type: "8-K"
ticker: "NBIX"
cik: "0000914475"
company_name: "NEUROCRINE BIOSCIENCES INC"
filed_at: "2026-05-18T13:04:56+00:00"
generated_at: "2026-05-18T13:06:53.973603+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Neurocrine completes $2.9B acquisition of Soleno Therapeutics, adds VYKAT XR for Prader-Willi

## Summary
- Tender offer accepted 46.4M shares (88.9% of Soleno) at $53/sh cash; total equity value ~$2.9B.
- Merger completed May 18, 2026; Soleno becomes wholly owned subsidiary; shares to be delisted from Nasdaq.
- VYKAT XR (diazoxide choline) is first approved therapy for hyperphagia in Prader-Willi syndrome (ages 4+).
- Entered $1.0B senior secured revolving credit facility (5-yr); initial $600M drawn; SOFR + 1.125%-1.75% margin.

## SEC filing metadata
- accession: 0001193125-26-228013
- form_type: 8-K
- ticker: NBIX
- cik: 0000914475
- company_name: NEUROCRINE BIOSCIENCES INC
- filed_at: 2026-05-18T13:04:56+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/914475/000119312526228013/0001193125-26-228013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/914475/000119312526228013/d94926d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-228013
- JSON: https://secwatch.observer/filing/0001193125-26-228013.json
- Plain text: https://secwatch.observer/filing/0001193125-26-228013.txt

## Key facts
- Debt Financings
  NEUROCRINE BIOSCIENCES INC incurred revolving credit of $1.0 billion with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto at Term SOFR plus a margin of 1.125% to 1.75% per annum, or alternate base rate plu maturing fifth anniversary of the Closing Date.
  - Instrument: revolving credit
  - Principal: $1.0 billion
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto
  - Rate: Term SOFR plus a margin of 1.125% to 1.75% per annum, or alternate base rate plu
  - Maturity: fifth anniversary of the Closing Date
  - Event: incurrence
  source text: On May 14, 2026 (the “ Closing Date ”), the Company entered into a credit agreement (the “ Credit Agreement ”) with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (in such capacities, the “ Agent ”), and the lenders party thereto. The Credit Agreement provides for a five-year, $1.0 billion senior secured revolving credit facility (the “ Revolving Credit Facility ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/914475/000119312526228013/0001193125-26-228013-index.htm
- M&A Transactions
  NEUROCRINE BIOSCIENCES INC completed an acquisition involving Soleno Therapeutics, Inc. for $53.00 per Soleno Share (closed 2026-05-18).
  - Action: acquisition
  - Counterparty: Soleno Therapeutics, Inc.
  - Consideration: $53.00 per Soleno Share
  - Closing: 2026-05-18
  source text: through Purchaser, commenced a tender offer to purchase all the outstanding shares of Soleno’s common stock, par value $0.001 per share (the “ Soleno Shares ”), at a price of $53.00 per Soleno Share (the “ Offer Price ”), in cash, without interest and subject to any required withholding taxes, upon the terms and subject to the conditions set forth in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/914475/000119312526228013/0001193125-26-228013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.