Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $35.0652W HIGH $72.66
Volume
1.24 M
Value Traded
32.52 M
Short % Float
7.02%
-3.01%Week
-37.87%1 Month
-46.19%3 Month
-37.82%6 Month
+198.62%5 Year
+440.62%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
3.52 B
EPS (TTM)
-4.23
P/E Ratio
-
Ent. Value
2.28 B
Total Shares
96.66 M
Float Shares
91.75 M
Insiders
5.26%
Institutions
100.29%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
PoA blends historical approval base rates, trial design score and FDA review track record.
XENE Catalyst Timeline
Dated clinical, regulatory and corporate events for Xenon Pharmaceuticals Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Xenon Pharmaceuticals Inc.
750Total events
8Upcoming
94Tier-1 (high impact)
2014 to 2027Coverage
Upcoming catalysts 2
Event history 50
▼Equity OfferingCorporate
Equity inducement grants to eight new non-officer employees (17,850 options and 10,500 RSUs)
●R&D DayPresentation
Xenon to present at TD Cowen Novel Mechanisms in Neuropsychiatry & Epilepsy Summit
●NDA SubmissionAzetukalnerFiledRegulatory Filing
Azetukalner NDA submitted to FDA for focal seizures
focal seizuressource ↗
▼Enrollment PausedAzetukalnerFiledTrial
Voluntary pause of new patient enrollment in psychiatry studies
major depressive disorder and bipolar depressionsource ↗
●Enrollment UpdateAzetukalnerFiledTrial
X-NOVA2 enrollment reached approximately 80% of 450-patient target
major depressive disorder (MDD)source ↗
▲Enrollment CompleteAzetukalnerFiledTrial
X-NOVA2 enrollment completed with approximately 360 total patients
major depressive disordersource ↗
▼Safety Signal DisclosedAzetukalnerFiledSafety
Neuropsychiatric adverse events observed in psychiatry studies
major depressive disorder and bipolar depressionsource ↗
▲Other Regulator MilestoneXEN1720Ex-US Regulatory
Clinical Trial Application (CTA) approved for XEN1720
painsource ↗
●Timing GuidanceAzetukalnerFiledPresentation
NDA submission for azetukalner in FOS expected
focal onset seizuressource ↗
●Pre NDA MeetingAzetukalnerFiledFDA Meeting
Pre-NDA meeting with FDA completed
focal onset seizuressource ↗
●Oral PresentationAzetukalnerFiledPresentation
Topline results from X-TOLE2 presented at Epilepsy Foundation Pipeline Conference
focal onset seizuressource ↗
●Oral PresentationAzetukalnerFiledPresentation
Topline results presented at Epilepsy Foundation Pipeline Conference
focal onset seizuressource ↗
◆Oral PresentationPresentation
Beyond the Right Heart Cath: 129Xe MRI for Noninvasive, Multidimensional Monitoring in PH
Pulmonary Hypertensionsource ↗
◆Poster PresentationPresentation
Periostin and Airway Fibroblasts in Obesity-associated Asthma
Asthmasource ↗
◆Oral PresentationPresentation
Establishing Standardized Mapping of 129Xe Frequency Shift Heterogeneity in Capillary Red Blood Cells
Pulmonary Vascular Diseasesource ↗
◆Poster PresentationPresentation
Illuminating Pulmonary Function on CT With Integrated 129Xe MRI Gas Exchange Maps
Methods / Validationsource ↗
◆Oral PresentationPresentation
A First-in-human Study of Pulmonary Macrophage Transplantation Therapy of Hereditary Pulmonary Alveolar Proteinosis
Rare Lung Disease / PAPsource ↗
◆Poster PresentationPresentation
Oxidant Stress and Ventilation Impairment in Obesity-related Asthma
Asthmasource ↗
◆Oral PresentationPresentation
Characterization of Lung Microstructural Injury in Bronchopulmonary Dysplasia Using 129Xe MRI
Pediatric / BPDsource ↗
◆Poster PresentationPresentation
Functional Xenon Imaging in Pulmonary Sarcoidosis – Multi-center Cohort
ILD / Sarcoidosissource ↗
◆Oral PresentationPresentation
Oral presentation on impact of comorbid depression on healthcare utilization in newly diagnosed epilepsy
epilepsysource ↗
◆Poster PresentationAzetukalnerFiledPresentation
Poster presentation of long-term 48-month azetukalner data from X-TOLE open-label extension
focal epilepsysource ↗
●Oral PresentationAzetukalnerFiledPresentation
Topline results from X-TOLE2 presented at AAN Annual Meeting
focal onset seizuressource ↗
◆Oral PresentationXPC-837Presentation
Oral presentation of preclinical NaV1.1 program data for XPC-837 in Dravet mice
Dravet syndromesource ↗
▲Oral PresentationAzetukalnerFiledPresentation
Late-breaking oral presentation of X-TOLE2 results at AAN 2026
focal onset seizuressource ↗
▲Poster PresentationAzetukalnerFiledPresentation
Poster presentation of ≥48-month interim analysis of X-TOLE OLE at AAN 2026
focal onset seizuressource ↗
◆Poster PresentationPresentation
Poster presentation on real-world data regarding burden of titration and need for no-titration options in epilepsy
epilepsysource ↗
●Oral PresentationAzetukalnerFiledPresentation
Topline results presented at AAN Annual Meeting
focal onset seizuressource ↗
●Pre NDA MeetingAzetukalnerFiledFDA Meeting
Pre-NDA meeting with FDA completed
focal onset seizuressource ↗
▼Equity OfferingCorporate
Closing of $747.5 million upsized public offering including full exercise of underwriters' option
▼Equity OfferingCorporate
Pricing of upsized $650M public offering of common shares and pre-funded warrants
▲Topline ReadoutAzetukalnerFiledClinical Data
Positive topline results from Phase 3 X-TOLE2 study of azetukalner in FOS
focal onset seizuressource ↗
◆Topline ReadoutAzetukalnerFiledClinical Data
Topline data for Phase 3 X-TOLE2 study of azetukalner in focal onset seizures
focal onset seizuressource ↗
◆Oral PresentationPresentation
Xenon to present at 44th Annual J.P. Morgan Healthcare Conference
◆Topline ReadoutAzetukalnerFiledClinical Data
Topline data for X-TOLE2 Phase 3 study of azetukalner in focal onset seizures
focal onset seizuressource ↗
▲First Patient DosedTrial
Complete first-in-human studies for NaV1.7 and KV7 pain programs
painsource ↗
◆Oral PresentationAzetukalnerFiledPresentation
Investor webinar highlighting AES 2025 data including long-term data from X-TOLE open-label extension study
focal onset seizuressource ↗
◆Oral PresentationPresentation
Scientific Exhibit: Overview of clinical- and pre-clinical-stage research programs
epilepsysource ↗
Past FDA Catalysts and PDUFA Decisions
How XENE actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-09-30 | azetukalner | NDA Submission | NDA |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
C50 / 100
Pipeline Score
$875M
Pipeline Value
Overvalued
Valuation Signal
5
Drugs Scored
0.3x
rNPV / MCap
Top 18%
Small Cap(rank 120 of 660)
Percentile Rank
Xenon Pharmaceuticals Inc. carries a moderate pipeline score (50/100), with $1.3B risk-adjusted pipeline value, led by Azetukalner in Major Depressive Disorder (Phase 3), across $63B in total addressable markets.
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Azetukalner Small moleculeNCT07172516 | Bipolar Disorder | Phase 3 | RECRUITING | 400 | Aug 1, 2028 |
Clinical Trial Results
Readouts, endpoints and source filings for every XENE program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| azetukalner | focal onset seizures | Phase 3 | 2026-04-20 | nearly 40% of patients achieving 12 months of seizure freedom; median of 13 seizures per month at baseline; nearly 40% of patients treated for at least 48 months achieved at least 12 months of seizure freedomRead More | Xenon Presents Azetukalner Phase 3 X-TOLE2 Study Results and 48-Month Long-term Data in Focal Onset Seizures at 2026 AAN Annual MeetingRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| MORTIMER IANDirector, Officer (PRESIDENT & CEO) | Buy | 30,000 49,923 held | $37.38 | 09/30/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in XENE
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| Avoro Capital Advisors LLC | 3.1 % (-6.1 %) | 348.75 M | 5.78 M |
XENE Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
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Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-12-18 | ||||||||||||
Real-Time Option Chain
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| Last | Vol | OI | Last | Vol | OI | |
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Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How XENE ranks across every disease it competes in
Competitive Position is a premium feature
See how XENE ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialXENE News
XENEXenon Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Xenon Pharmaceuticals has announced equity inducement grants to eight new non-officer employees, totaling 17,850 share options and 10,500 restricted share units (RSUs). These grants were approved by the Compensation Committee and are intended to incentivize new hires as per Nasdaq Listing Rule 5635(c)(4). The options have a 10-year term and will vest over four years, while the RSUs will vest over four anniversaries.
Read more →XENEXenon to Present at TD Cowen Novel Mechanisms in Neuropsychiatry & Epilepsy Summit
Xenon Pharmaceuticals Inc. will present at the TD Cowen Novel Mechanisms in Neuropsychiatry & Epilepsy Summit on September 23, 2026. The virtual fireside chat will showcase the company's advancements in drug discovery and clinical development. Xenon's lead molecule, azetukalner, is in late-stage development for epilepsy and mood disorders.
Read more →XENE▼ -30.7%on this newsshared move
Xenon Announces Azetukalner NDA Submission to FDA for Focal Seizures and Provides Update on Psychiatry Clinical Program
Xenon Pharmaceuticals has submitted a New Drug Application for azetukalner to the FDA for the treatment of focal seizures. This submission is based on positive results from two clinical trials. The company has also paused enrollment in its psychiatry studies due to neuropsychiatric adverse events, although current participants remain active. Topline data for the major depressive disorder study is expected in Q1 2027.
Read more →XENEMechanistic Characterization of Azetukalner: KV7 Binding, Enhanced Channel Opening, and Rational Polytherapy Potential in Epilepsy
The article discusses the mechanistic characterization of azetukalner (AZK), a novel KV7.2/7.3 channel opener. AZK enhances channel opening and may provide additive effects when combined with existing antiseizure medications (ASMs). Preclinical studies demonstrate its potential in improving seizure control for patients with difficult-to-treat epilepsy. The findings suggest AZK could be a valuable addition to epilepsy treatment strategies.
Read more →XENELong-Term Safety and Efficacy of Azetukalner, a Novel, Potent KV7 Potassium Channel Opener, in Adults With Focal Epilepsy: ≥48-Month Interim Analysis of the Ongoing 7-Year X-TOLE Open-Label Extension
The interim analysis of the X-TOLE open-label extension study indicates that Azetukalner (AZK) demonstrates long-term efficacy and safety in adults with focal epilepsy. Over 48 months, participants experienced a substantial reduction in seizure frequency, with notable retention rates. The safety profile remained consistent with earlier findings, although some participants reported adverse events and discontinued treatment.
Read more →XENEClinical Practice and Patient Burden Associated With Antiseizure Medication Titration: A Thematic Analysis
The study explores the challenges associated with antiseizure medication (ASM) titration from both patient and physician perspectives. It reveals that titration is often overlooked in clinical discussions, contributing to patient burden and healthcare resource strain. The findings suggest a need for better communication and the development of ASMs that simplify the titration process.
Read more →XENEXenon to Present at Wells Fargo Healthcare Conference
Xenon Pharmaceuticals Inc. will present at the Wells Fargo Healthcare Conference on September 9, 2026. The presentation will include a fireside chat scheduled from 11:00 to 11:30 am ET. Details regarding the webcast will be available on the company's website. Xenon is focused on developing therapeutics for neurological conditions.
Read more →XENEXenon to Highlight Phase 3 X-TOLE2 Clinical Data and Rational Polytherapy Potential for Azetukalner at EEC 2026
Xenon Pharmaceuticals is set to present six data presentations at the 16th European Epilepsy Congress, including the topline results from the Phase 3 X-TOLE2 study for azetukalner, a novel K V 7 channel opener. The presentations will cover efficacy, safety, and the drug's potential in combination with existing antiseizure medications. The company aims to highlight the mechanistic benefits of azetukalner in treating focal onset seizures.
Read more →XENEXenon Reports Q2 2026 Financial Results and Provides Business Update
Xenon Pharmaceuticals reported its Q2 2026 financial results, highlighting a successful pre-NDA meeting and an NDA submission for azetukalner expected in Q3 2026. The company continues to advance multiple Phase 3 studies in epilepsy and neuropsychiatry, with topline data anticipated in 2027. Despite a significant net loss, Xenon maintains a strong cash position to support operations through 2029.
Read more →XENEXenon to Report Q2 2026 Financial Results on August 6, 2026
Xenon Pharmaceuticals Inc. will report its Q2 2026 financial results on August 6, 2026. The company is known for its focus on neuroscience and is advancing its lead molecule, azetukalner, in Phase 3 clinical trials. A live webcast of the presentation will be available on their website.
Read more →XENEXenon Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - May 29, 2026
Xenon Pharmaceuticals has announced equity inducement grants to 10 new non-officer employees, totaling 32,750 share options and 19,200 restricted share units. These grants were approved by the Compensation Committee and are part of the company's strategy to attract talent. The share options have an exercise price of $54.79 and will vest over four years.
Read more →XENEXenon Reports Q1 2026 Financial Results and Provides Business Update
Xenon Pharmaceuticals reported positive Q1 2026 financial results, highlighting successful outcomes from the X-TOLE2 study of azetukalner for focal onset seizures. The company is preparing to submit a New Drug Application (NDA) to the FDA in the third quarter of 2026. Additionally, Xenon is advancing multiple Phase 3 studies in epilepsy and neuropsychiatry, with a strong cash position supporting its initiatives.
Read more →XENEXenon MRI Advances as a Cardiopulmonary Biomarker Platform at ATS 2026
Polarean will showcase its Xenon MRI technology at the ATS 2026 Respiratory Innovation Summit and International Conference, highlighting its role as a cardiopulmonary biomarker platform in drug development. Chief Business Officer Alex Dusek will present on utilizing Xenon MRI to enhance clinical trial designs. The company aims to address critical needs in pulmonary medicine and has garnered recognition through more than 20 presentations reflecting ongoing research and clinical applications. The advancements are particularly focused on pediatric populations and treatment response assessments.
Read more →XENEXenon Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - May 1, 2026
Xenon Pharmaceuticals announced equity inducement grants to seven new non-officer employees, totaling 25,600 share options and 15,000 restricted share units. These grants were approved by the Compensation Committee and are part of the company's strategy to attract talent. The options have a 10-year term and vest over four years, while the RSUs vest over four anniversaries.
Read more →XENEXenon to Report Q1 2026 Financial Results on May 7, 2026
Xenon Pharmaceuticals Inc. has announced that it will report its first quarter 2026 financial results on May 7, 2026. The company will provide a business update after U.S. financial markets close, along with a live webcast for interested parties. This presentation reflects the company's ongoing commitment to keeping stakeholders informed about its financial health and developments.
Read more →About Xenon Pharmaceuticals Inc.
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