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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
Forward Guidance
Xenon anticipates having sufficient cash to fund operations into 2026, including the completion of the XEN1101 Phase 3 epilepsy studies.
Historical Earnings Impact
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