Xenon Q2 net loss $84.7M; azetukalner Phase 3 X-TOLE2 enrollment complete, topline early 2026

Xenon Pharmaceuticals Inc.

2025-Q2 EPS reported -$1.90 revenue$7,500,000

Net loss $84.7M vs $57.9M Q2 2024; R&D expenses rose to $75.0M from $49.7M on azetukalner trials.
Phase 3 X-TOLE2 (focal seizures) patient recruitment complete; topline data expected early 2026.
Phase 1 studies underway for XEN1120 (Kv7) and XEN1701 (Nav1.7) pain candidates.
Darren Cline appointed Chief Commercial Officer to lead commercial build for azetukalner launch.
Cash $624.8M as of June 30, 2025; funding expected into 2027.

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