Cantor Fitzgerald assumed coverage of Xenon Pharmaceuticals with an Overweight rating and no price target. The analyst says XEN-1101 is a potassium channel opener that has generated “compelling” Phase 2 results for treatment of focal onset seizures. The stock’s current valuation already reflects considerable success in a seizure market that can be hard/slow to crack, but there is an imminent Phase 2 readout for XEN-1101 in depression “that could unlock an even larger unmet medical need,” the analyst tells investors in a research note.
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Read More on XENE:
- Xenon: XEN1101 Phase 2b ‘X-TOLE’ Clinical trial results published
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- Xenon Pharmaceuticals to Present at Jefferies Inaugural Biotech CNS/Neuro Summit
- Xenon Pharmaceuticals added to Q4 2023 Tactical Ideas List at Wells Fargo
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