Xenon Q3 net loss $90.9M, Phase 3 FOS study fully enrolled, new CFO appointed

Xenon Pharmaceuticals Inc.

2025-Q3 EPS reported -$3.05 revenue$7,500,000

Net loss $90.9M (vs $62.8M Q3 2024) on higher R&D spend; R&D expenses $77.1M (vs $57.0M).
Phase 3 X-TOLE2 FOS study completed enrollment (380 patients); topline data expected early 2026.
Phase 3 MDD (X-NOVA2/3) and BPD (X-CEED) studies continue recruiting; Phase 1 Nav1.7 and Kv7 studies underway.
Tucker Kelly appointed CFO to lead finance strategy ahead of azetukalner launch.
Cash $555.3M as of Sept 30, 2025; runway into 2027.

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