Headquartered in Burnaby, BC Fiscal year ends December NASDAQ: XENE xenon-pharma.com
Xenon Pharmaceuticals Inc. (Nasdaq: XENE) is a clinical-stage, neuroscience-focused biopharmaceutical company that discovers, develops and seeks to commercialize therapeutics based on ion channel modulation. It draws on expertise in human genetics, ion channel biology and novel chemistries.
Its lead molecule, azetukalner, is a KV7 potassium channel opener.
- **Epilepsy:** An NDA for focal seizures was submitted to the FDA in September 2026. Phase 3 studies are ongoing in focal seizures (X-TOLE3, for ex-U.S. submissions) and primary generalized tonic-clonic seizures (X-ACKT). A Phase 3b/4 first add-on study (X-FIRST) is planned for Q1 2027.
- **Neuropsychiatry:** Phase 3 studies are underway in major depressive disorder and bipolar depression, with X-NOVA2 topline data expected in December 2026. New enrollment in these studies is currently paused.
Beyond azetukalner, Xenon is developing non-opioid pain candidates:
- **XEN1701 and XEN1720:** Target NaV1.7.
- **XEN1120:** Targets KV7.
Earlier-stage work includes:
- **NaV1.1:** A preclinical program for Dravet syndrome.
- **NBI-921355:** A partnered NaV1.2/NaV1.6 inhibitor with Neurocrine Biosciences for epilepsy.
The company currently generates no product revenue. It funds operations from cash, cash equivalents and marketable securities of about $1.15 billion, which management expects to provide runway into 2029. Updated
The loss came in narrower than expected, and December brings topline Phase 3 X-NOVA2 data in major depressive disorder, a binary readout landing weeks after the azetukalner epilepsy NDA went to the FDA. Xenon closed the quarter with $1.15 billion in cash and runway into 2029, so the balance sheet can absorb a miss. The stock may not.
Two small-cap biotech names made serious noise today. Xenon Pharmaceuticals (XENE) is trading at $62.76, up 49.6% today, while Relmada Therapeutics (RLMD) sits at $7.17, also up 61.1% Both moves were absolutely eye-popping, but…
The biotech sector is one that’s become red-hot, at least in recent years. After around a decade of stagnation, investors appear to be intent on increasing their exposure to top biotech names…
Xenon Pharmaceuticals Inc. (Nasdaq: XENE) is a clinical-stage, neuroscience-focused biopharmaceutical company that discovers, develops and seeks to commercialize therapeutics based on ion channel modulation. It draws on expertise in human genetics, ion channel biology and novel chemistries.
The Wall Street consensus 12-month price target for XENE is $71.75. XENE price prediction →
