Xenon Pharma receives $15M milestone from Neurocrine after FDA accepts pediatric epilepsy study expansion

Xenon Pharmaceuticals Inc.

FDA accepted protocol amendment to expand Phase 2 study of NBI-921352 to children aged 2–11 with SCN8A-DEE.
Xenon receives aggregate $15M: $6.75M cash plus $8.25M equity (258,986 shares at $31.855, a 15% premium to 30-day VWAP).
Full IND acceptance triggered per amendment to 2019 Collaboration Agreement with Neurocrine Biosciences.
Neurocrine's NBI-921352 is a selective Nav1.6 sodium channel inhibitor; two ongoing Phase 2 trials in epilepsy.
Xenon potential for future clinical, regulatory, and commercial milestones plus royalties.

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