Revenue - Revenue for the first quarter of 2025 was $7.5 million, compared to nil for the same period in 2024, due to a milestone payment from the Neurocrine collaboration[18] - Revenue for Q1 2025 was $7.5 million, compared to $0 in Q1 2024[24] Expenses - Research and development expenses increased to $61.2 million in Q1 2025 from $44.3 million in Q1 2024, primarily due to ongoing Phase 3 clinical trials for azetukalner[18] - General and administrative expenses rose to $19.0 million in Q1 2025 from $14.8 million in Q1 2024, attributed to increased personnel-related costs[18] - Research and development expenses increased to $61.2 million in Q1 2025 from $44.25 million in Q1 2024, representing a 38.3% increase[24] - General and administrative expenses rose to $19.038 million in Q1 2025, up from $14.791 million in Q1 2024, a 28.5% increase[24] - Total operating expenses for Q1 2025 were $80.238 million, compared to $59.041 million in Q1 2024, reflecting a 36% increase[24] Net Loss - Net loss for Q1 2025 was $65.0 million, compared to $47.9 million in Q1 2024, driven by higher R&D expenses and lower interest income[18] - Loss from operations for Q1 2025 was $72.738 million, compared to a loss of $59.041 million in Q1 2024[24] - Net loss for Q1 2025 was $65.047 million, compared to a net loss of $47.931 million in Q1 2024, indicating a 36.0% increase in losses[24] - Basic and diluted net loss per common share for Q1 2025 was $0.83, compared to $0.62 in Q1 2024[24] - Comprehensive loss for Q1 2025 was $64.271 million, compared to $49.623 million in Q1 2024[24] Cash Position - Cash and cash equivalents and marketable securities totaled $691.1 million as of March 31, 2025, down from $754.4 million as of December 31, 2024[13] - The company expects to have sufficient cash to fund operations into 2027 based on current operating plans[13] Clinical Trials - Patient recruitment for the Phase 3 X-TOLE2 epilepsy study is expected to complete in the next few months, with topline results anticipated in early 2026[3] - The first Phase 3 MDD study, X-NOVA2, is currently enrolling patients, with the second study, X-NOVA3, expected to initiate mid-year 2025[14] - A Phase 1 study for the follow-on Kv7 candidate, XEN1120, has been initiated, with an IND filing for lead candidate XEN1701 anticipated in Q3 2025[4] - Azetukalner is the most advanced potassium channel modulator in late-stage clinical development for epilepsy and neuropsychiatric disorders[5] Share Information - Weighted average common shares outstanding increased to 78,687,503 in Q1 2025 from 77,594,599 in Q1 2024[24] Other Income - Other income decreased to $8.118 million in Q1 2025 from $11.522 million in Q1 2024[24]

Core Insights - Xenon Pharmaceuticals is making steady progress in its Phase 3 epilepsy program, with patient recruitment for the X-TOLE2 study expected to complete in the coming months, leading to topline results anticipated in early 2026 [2][8] - The company is also advancing its pipeline in neuropsychiatry, with multiple studies in major depressive disorder (MDD) and bipolar depression (BPD) on track for initiation [3][7] - Financial results for Q1 2025 show a revenue of $7.5 million, primarily due to a milestone payment, while the net loss increased to $65.0 million compared to $47.9 million in Q1 2024, driven by higher research and development expenses [13][19] Clinical Development Highlights - Azetukalner is a selective Kv7 potassium channel opener in late-stage clinical development for epilepsy and neuropsychiatric disorders, with significant advancements in its clinical trials [4][17] - The Phase 3 X-NOVA2 study for MDD is currently enrolling patients, and the X-NOVA3 study is expected to initiate mid-year [12][7] - A Phase 1 study for the follow-on Kv7 candidate, XEN1120, has been initiated, and an IND filing for the lead Nav1.7 candidate, XEN1701, is anticipated in Q3 2025 [3][12] Financial Overview - As of March 31, 2025, cash and cash equivalents were $691.1 million, down from $754.4 million at the end of 2024, with sufficient funds projected to support operations into 2027 [13] - Research and development expenses for Q1 2025 were $61.2 million, an increase from $44.3 million in Q1 2024, reflecting ongoing clinical trials and increased personnel costs [13][19] - The company reported a net loss of $65.0 million for Q1 2025, compared to a net loss of $47.9 million for the same period in 2024, attributed to higher operating expenses [19][24]

Core Viewpoint - Xenon Pharmaceuticals Inc. is set to report its first quarter 2025 financial results and provide a business update on May 12, 2025, after the U.S. financial markets close [1]. Group 1: Financial Reporting - The financial results and business update will be announced after the close of U.S. financial markets on May 12, 2025 [1]. - A conference call and webcast will take place on the same day at 4:30 pm Eastern Time [2]. Group 2: Company Overview - Xenon Pharmaceuticals is a neuroscience-focused biopharmaceutical company dedicated to developing therapeutics for conditions such as epilepsy and depression [3]. - The company is advancing an ion channel product portfolio, with Azetukalner being the most advanced potassium channel modulator in late-stage clinical development [3].

Group 1 - Xenon Pharmaceuticals (XENE) closed at $38.28, with a 30.2% gain over the past four weeks, and a mean price target of $56.71 indicating a 48.2% upside potential [1] - The average of 14 short-term price targets ranges from a low of $42 to a high of $65, with a standard deviation of $6.73, suggesting a variability in estimates [2] - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for the current year has increased by 0.3% over the past month, indicating positive sentiment among analysts [12] - XENE holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While the consensus price target may not be a reliable indicator of the extent of potential gains, it does suggest a positive direction for price movement [13]

Core Insights - Xenon Pharmaceuticals Inc. announced equity inducement grants to four new non-officer employees, totaling 78,600 share options and 1,800 performance share units (PSUs) [1][2] - The share options have an exercise price of $38.28 per common share, equal to the closing price on the grant date, and will vest over four years [2] - The company focuses on developing therapeutics for high unmet medical needs, particularly in areas like epilepsy and depression, with a notable product, Azetukalner, in late-stage clinical development [3] Summary by Category Equity Inducement Grants - The grants consist of 78,600 share options and 1,800 PSUs, approved by the Compensation Committee of the Board of Directors [1] - The share options vest over four years, with 25% vesting on the one-year anniversary and the remainder vesting monthly [2] - Each option has a 10-year term and is subject to the terms of the 2025 Inducement Equity Incentive Plan [2] Performance Share Units - The PSUs will vest based on the achievement of predefined milestone-based objectives over a three-year performance period [2] - Each PSU grant is also subject to the terms of the performance share unit award agreement and the 2025 Inducement Equity Incentive Plan [2] Company Overview - Xenon Pharmaceuticals is dedicated to discovering and developing life-changing therapeutics, focusing on neuroscience [3] - The company is advancing an ion channel product portfolio to address significant medical needs, including epilepsy and depression [3] - Azetukalner is highlighted as a leading product in late-stage clinical development for multiple indications [3]

Core Insights - The article discusses the investment position of a specific company, indicating a beneficial long position in the shares of XENE through various means such as stock ownership and options [1]. Group 1 - The article expresses the author's personal opinions regarding the investment in XENE, emphasizing that it is not influenced by external compensation [1]. - There is a clear statement that the article does not serve as a recommendation to buy or sell any security, highlighting the importance of independent verification of facts by readers [2]. - The article notes that past performance is not indicative of future results, and the views expressed may not represent the broader perspective of the platform [3].

I covered Xenon Pharmaceuticals Inc. (NASDAQ: XENE ) in August. Then, I noted that lead asset azetukalner (XEN1101) was running phase 3 clinical trials targeting two forms of epilepsy, focal onset seizure (FOS’) and Primary Generalized Tonic-Clonic Seizures (PGTCS), and a phase 3 trial called X-NOVA2About the TPT ServiceThanks for reading. At the Total Pharma Tracker, we offer the following:-Our Android app and website features a set of tools for DIY investors, including a work-in-progress software where yo ...

Three epilepsy posters to be presented in scientific sessions at the American Academy of Neurology meetingLong-term 36-month data from the ongoing X-TOLE OLE study of azetukalner in focal onset seizures (FOS)Exploratory analysis of efficacy of azetukalner in FOS seizure sub-typesPatient survey findings on mental health and comorbidity burdens of FOS VANCOUVER, British Columbia and BOSTON, April 04, 2025 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (NASDAQ:XENE), a neuroscience-focused biopharmaceutical co ...

Xenon Pharmaceuticals (XENE) reported a loss of 84 cents per share for the fourth quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 89 cents. The company had incurred a loss of 64 cents per share in the year-ago quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.In the reported quarter, Xenon did not generate any revenues. Due to the absence of a marketed product, the company only recognizes periodic collaboration revenues in its top line from its ongoing p ...

Financial Data and Key Metrics Changes - The company reported cash and cash equivalents of $754.4 million as of December 31, 2024, down from $930.9 million at the end of 2023, indicating a decrease in liquidity [44]. - The company anticipates sufficient cash to fund operations into 2027 based on current operating plans [44]. Business Line Data and Key Metrics Changes - The company is advancing azetukalner in a broad Phase 3 epilepsy program and has launched a Phase 3 program for major depressive disorder (MDD) [8][9]. - Azetukalner has shown a sustained monthly reduction in seizure frequency of approximately 85% at month 36 in ongoing studies, with a significant number of patients achieving seizure freedom [28]. Market Data and Key Metrics Changes - The company highlighted the unmet medical need for new anti-seizure medications, particularly for patients who continue to experience focal seizures despite multiple treatments [10]. - The bipolar disorder market is significant, with approximately 40 million people affected worldwide, indicating a substantial opportunity for azetukalner in this indication [30]. Company Strategy and Development Direction - The company aims to drive towards Phase 3 data, NDA submission, and commercialization of azetukalner for focal onset seizures in the U.S. [9]. - The strategic priorities include broadening the azetukalner opportunity across additional epilepsy and neuropsychiatric indications and expanding the product portfolio through early-stage ion channel programs [9]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming Phase 3 epilepsy data readout expected in the second half of 2025, which could mark a significant transition for the company from clinical to commercial stage [50]. - The company is optimistic about the potential of azetukalner to address significant unmet needs in epilepsy and bipolar depression, supported by strong clinical data [11][14]. Other Important Information - The CFO announced plans to step down later in the year for personal reasons, with a commitment to ensure a smooth transition [45][46]. - The company plans to host an investor webinar to showcase early-stage programs and discuss the commercial opportunities [19]. Q&A Session Summary Question: What is the status of enrollment in the Phase 3 epilepsy study? - Management confirmed that they are comfortable with the guidance for Phase 3 epilepsy data in the second half of the year, but specific enrollment completion details will be provided later [57]. Question: How does the company view the competitive landscape for bipolar depression? - Management believes that the scientific rationale for azetukalner in bipolar depression is strong, and they remain confident in their plans despite other Kv7 readouts [58][59]. Question: What is the minimum efficacy threshold for azetukalner to be considered best-in-class? - Management indicated that statistical significance in the Phase 3 epilepsy program is crucial for filing an NDA and advancing the drug [80]. Question: How is the company seeing Xcopri's performance in the market? - Management noted that Xcopri had strong sales growth, indicating an unmet medical need in the market, and expressed confidence that azetukalner's profile would differentiate it from existing treatments [91][94].