10 Firms End Friday Strong; 3 Reach All-Time Highs

3. Soleno Therapeutics Inc. (NASDAQ:SLNO)

Soleno Therapeutics jumped for a second day on Friday, adding another 6.83 percent to its valuation to end at $71.99 apiece after securing the approval of the Food and Drug Administration (FDA) for its diazoxide cholin—to be called Vykat XR—which aims to treat extreme hunger in patients with Prader-Willi syndrome.

The syndrome is a rare genetic disorder caused by abnormalities in chromosome 15. Its symptoms include extreme hunger, low muscle tone, developmental delays, and behavioral challenges.

Meanwhile, extreme hunger poses a threat to people with the syndrome and can lead to severe obesity and associated health complications.

FDA’s approval followed a three-month delay after the agency classified responses from Soleno as a “major amendment” to its new drug application, requiring additional time to review.