Xenon Q1 net loss $47.9M; MDD Phase 3 on track for H2 2024 start

Xenon Pharmaceuticals Inc.

2024-Q1 EPS reported -$0.62

Net loss of $47.9M for Q1 2024, up from $41.7M in Q1 2023; cash and securities $885.4M.
R&D expenses rose to $44.3M from $39.5M, driven by azetukalner manufacturing and personnel costs.
Phase 3 MDD program to start H2 2024 after successful FDA interactions; X-TOLE2 enrollment completion expected late 2024 to early 2025.
WHO and USAN approved 'azetukalner' as generic name for XEN1101, a Kv7 potassium channel opener.
Other income increased to $11.5M from $7.6M on higher interest; cash expected to fund operations into 2027.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Xenon Pharmaceuticals Inc. reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 9, 2024, Xenon Pharmaceuticals Inc. (the “Company”) announced via press release the Company’s financial results for the three months ended March 31, 2024.

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Source: SEC EDGAR

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