Xenon filed its NDA in September for U.S. commercialization of Zetucandler in focal seizures, moved the major depressive disorder readout to December, and reported a billion two in cash and cash into 2029.
XENE · Xenon Pharmaceuticals Inc.
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Xenon Pharmaceuticals Inc. submitted azetukalner’s NDA for focal seizures to the U.S. Food & Drug Administration in September 2026. Net loss was $323.5 million for the nine months ended September 30, 2026, while cash and marketable securities totaled $1,153.5 million.
Xenon Pharmaceuticals Inc. submitted azetukalner’s drug application for focal seizures to the FDA in September 2026, reported $1.2 billion in cash, cash equivalents and marketable securities with cash runway into 2029, and expects X-NOVA2 results in December 2026.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Nov 9, 2026TL;DR. Xenon submitted the focal-seizure NDA, plans X-FIRST and additional epilepsy studies, moved X-NOVA2 data to December 2026, received positive Phase 1 support for pain Phase 2 studies planned for H1 2027, and ended the quarter with $1,153.5 million of cash and marketable securities and runway into 2029. Q3 net loss increased to $110.4 million, while neuropsychiatric adverse events prompted a voluntary enrollment pause in MDD and bipolar depression studies.
- + All four azetukalner doses produced statistically significant seizure reductions in the pivotal studies, while X-TOLE2 achieved a 42.7% placebo-adjusted median percent change. new
- + Positive Phase 1 results support planned Phase 2 proof-of-concept studies for XEN1701 and XEN1120 in acute pain, with initiation expected in the first half of 2027. new
- + Cash, cash equivalents and marketable securities increased to $1,153.5 million at September 30, 2026 from $586.0 million at December 31, 2025, with cash runway into 2029. new
- + Enrollment in the Phase 3 X-NOVA2 MDD study was completed, with topline data accelerated to December 2026 from Q1 2027. new
- + Xenon submitted the azetukalner NDA for focal seizures to the FDA in September 2026. new
- − Q3 net loss increased to $110.4 million from $90.9 million in the prior-year quarter. new
- − Q3 research and development expense rose to $95.6 million from $77.1 million in the prior-year quarter. new
- − Q3 general and administrative expense increased to $24.4 million from $19.3 million in the prior-year quarter. new
- − Broad payer coverage for azetukalner is expected to take time following commercial availability. new
- − The clinical-stage pipeline remains subject to development, regulatory and commercialization risks. new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
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Technicals
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Direct external costs - Azetukalner | 55.76M | the three months ended June 30, 2026 filing | — |
| Direct external costs - Pain programs | 5.58M | the three months ended June 30, 2026 filing | — |
| Direct external costs - Pre-clinical, discovery and other programs | 4.68M | the three months ended June 30, 2026 filing | — |
| Indirect costs - Other unallocated expenses | 4.64M | the three months ended June 30, 2026 filing | — |
| Indirect costs - Personnel-related (including stock-based compensation) | 28.56M | the three months ended June 30, 2026 filing | — |
| Other G&A expenses | 2.69M | the three months ended June 30, 2026 filing | — |
| Personnel-related expenses (including stock-based compensation) - G&A | 15.91M | the three months ended June 30, 2026 filing | — |
| Professional and consulting fees - G&A | 5.34M | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Biotechnology — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
XENE
this stock
Xenon Pharmaceuticals Inc.
|
$3.98B | -9.7% | -82.8% | — | 7.5% |
|
VRTX
Vertex Pharmaceuticals Inc
|
$136.56B | +18.8% | +46.2% | 34.7 | 1.9% |
|
REGN
Regeneron Pharmaceuticals, Inc.
|
$98.84B | +23.8% | +20.8% | 21.1 | 2.1% |
|
MRNA
Moderna, Inc.
|
$90.38B | +657.4% | +4.3% | — | 8.2% |
|
CSLLY
Csl Ltd
|
$66.05B | — | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 10, 2026
- This year
- 23
Xenon filed its NDA in September for U.S. commercialization of Zetucandler in focal seizures, moved the major depressive disorder readout to December, and reported a billion two in cash and cash into 2029.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| XENE | +3.3% | +20.9% | -25.0% | +8.2% | -9.7% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +0.8% | +22.0% | -25.5% | +8.4% | -20.3% |