Xenon Reports Q3 2026 Financial Results and Provides Business Update
Globe Newswire•09/11/2026•16:01 ET
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Key Highlights
- ➤September NDA submitted for azetukalner in focal seizures to U.S. FDA
- ➤X-NOVA2 MDD enrollment completed; topline readout expected December 2026
- ➤Cash, equivalents and marketable securities $1,153.5 million; runway into 2029
- ➤Phase 2 acute-pain studies for XEN1701 and XEN1120 planned H1 2027
- ➤Q3 net loss $110.4 million versus $90.9 million year earlier
Expert Statements
Ian Mortimer, President and Chief Executive Officer of Xenon
“We’ve made significant progress advancing azetukalner with our recent NDA submission to the FDA for focal seizures and through ongoing scientific exchange opportunities. We continue to have great confidence in azetukalner’s product profile in epilepsy based on strong efficacy and consistent safety across more than 1,500 patient-years of data, which has been reiterated in conversations with both epileptologists and neurologists”
Ian Mortimer, President and Chief Executive Officer of Xenon
“Following the completion of enrollment in X-NOVA2, we are working toward our first Phase 3 data readout in psychiatry with topline results now expected in December 2026. We also are excited about the growing value of our earlier stage pipeline as seen through the recent announcement of positive Phase 1 data for our novel, non-opioid pain programs, XEN1701 and XEN1120, which we are planning to progress to Phase 2 proof-of-concept studies in acute pain in the first half of 2027.”
* New Drug Application for azetukalner in focal seizures submitted to U.S. Food & Drug Administration in September 2026
* Expanding potential opportunity in epilepsy through ongoing Phase 3 X-TOLE3 and X-ACKT studies and planned Q1 2027 initiation of Phase 3b/4 X-FIRST study evaluating azetukalner as first add-on ASM
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