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Sep 30, 2023
Xenon Pharmaceuticals Q3 2023 Earnings Report
Reported financial results for the third quarter ended September 30, 2023 and provided a corporate update.
Key Takeaways
Xenon Pharmaceuticals reported no revenue for the third quarter of 2023. Research and development expenses increased to $42.9 million, and general and administrative expenses rose to $12.8 million. The net loss for the quarter was $48.5 million. Cash and cash equivalents and marketable securities totaled $639.1 million as of September 30, 2023.
Topline data from XEN1101 Phase 2 X-NOVA clinical trial in major depressive disorder on track for late November to mid-December
XEN1101 Phase 3 epilepsy program continues to progress with X-TOLE2 and X-TOLE3 in focal onset seizures and X-ACKT in primary generalized tonic-clonic seizures
Patient enrollment in X-TOLE2 expected to complete in the second half of 2024
Neurocrine data from NBI-921352 adult focal study are anticipated this month
Xenon Pharmaceuticals
Xenon Pharmaceuticals
Forward Guidance
Xenon anticipates having sufficient cash to fund operations into 2026, including the completion of the XEN1101 Phase 3 epilepsy studies.