Xenon Pharmaceuticals reports Q2 EPS $1.07 vs. (75c) last year

Cash and cash equivalents and marketable securities were $624.8M as of June 30, compared to $754.4M as of December 31, 2024. “The completion of patient recruitment for our Phase 3 X-TOLE2 study is a significant milestone in the development of azetukalner and keeps us on track to report topline results in early 2026 in anticipation of our first potential approval and commercial product as a company. We remain highly encouraged by the potential value proposition of azetukalner as a novel, next-generation treatment option for people living with the debilitating effects of uncontrolled seizures,” said Ian Mortimer, president and CEO of Xenon. “In addition, we remain excited about azetukalner’s potential beyond epilepsy, with Phase 3 programs underway across multiple neuropsychiatric indications, with the initiation of our Phase 3 X-CEED study in bipolar depression, alongside two clinical studies now underway in our ongoing Phase 3 X-NOVA program in major depressive disorder.”