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Mar 31, 2024
Xenon Pharmaceuticals Q1 2024 Earnings Report
Reported financial results for the first quarter ended March 31, 2024 and provided a corporate update.
Key Takeaways
Xenon Pharmaceuticals reported a net loss of $47.9 million for the first quarter of 2024, compared to a net loss of $41.7 million for the same period in 2023. As of March 31, 2024, cash and cash equivalents and marketable securities were $885.4 million.
Phase 3 epilepsy program continues to progress with anticipated completion of patient enrollment in X-TOLE2 in late 2024 to early 2025.
Successful “end-of-Phase 2” interactions with FDA in MDD; Phase 3 program on track to initiate in the second half of the year.
Azetukalner is now the international nonproprietary name (INN) and United States adopted name (USAN) for XEN1101.
Xenon anticipates having sufficient cash to fund operations into 2027.
Forward Guidance
Xenon anticipates patient enrollment in X-TOLE2 will be completed in late 2024 to early 2025. Xenon continues to anticipate that the first of three Phase 3 clinical trials will be initiated in the second half of 2024.
Historical Earnings Impact
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