Xenon Pharmaceuticals reports Q3 EPS (73c), consensus (77c)

Cash and cash equivalents and marketable securities were $639.1M as of September 30, compared to $720.8M as of December 31, 2022. Ian Mortimer, Xenon’s president and CEO, stated, “We are excited by the progress that we have made across our broad XEN1101 program, including the publication of a peer-reviewed article in the prestigious JAMA Neurology journal summarizing our Phase 2b X-TOLE study of XEN1101 in adults with focal epilepsy. We also recently presented new interim data from our ongoing open-label extension study from our Phase 2b X-TOLE trial at the International Epilepsy Congress, demonstrating that the long-term efficacy of XEN1101 translates into overall improvements in patients’ quality of life. Importantly, we also continue to execute on our ambitious Phase 3 epilepsy program – including X-TOLE2 and X-TOLE3 in patients with focal onset seizures and X-ACKT in patients with primary generalized tonic-clonic seizures – with patient enrollment in X-TOLE2 expected to complete in the second half of next year.”