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Xenon Pharmaceuticals
Xenon Pharmaceuticals (XENE) investor relations material
Xenon Pharmaceuticals Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 May, 2026
Executive summary
Achieved significant progress in Q1 2026, highlighted by positive Phase 3 X-TOLE2 results for azetukalner in focal onset seizures, exceeding expectations and supporting NDA submission in Q3 2026.
Expanded azetukalner's potential beyond epilepsy, with ongoing Phase 3 studies in major depressive disorder and bipolar depression, and advanced early-stage pain and epilepsy programs.
No product sales to date; revenue is from collaboration milestones.
Completed $747.5 million financing and raised $707.6 million net proceeds from a public offering, extending cash runway into 2029 and supporting transition to a commercial-stage company.
Report covers the quarter ended March 31, 2026, with continued focus on neuroscience drug development.
Financial highlights
Ended Q1 2026 with $1.34 billion in cash, cash equivalents, and marketable securities, up from $586 million at year-end 2025.
Net loss widened to $102.3 million in Q1 2026 from $65.0 million in Q1 2025, driven by higher R&D and G&A expenses and lower collaboration revenue.
R&D expenses rose to $88.5 million (from $61.2 million), G&A expenses increased to $23.8 million (from $19.0 million) year-over-year.
No collaboration revenue recognized in Q1 2026, compared to $7.5 million in Q1 2025.
Net cash provided by financing activities was $843.0 million, mainly from equity offerings.
Outlook and guidance
NDA submission for azetukalner in focal onset seizures planned for Q3 2026, with anticipated FDA approval and DEA scheduling by late 2027 or early 2028.
Topline data from X-NOVA2 (MDD) expected in H1 2027; first-in-human studies for XEN1701 (NaV1.7) and XEN1120 (Kv7) to complete in 2026.
Continued focus on commercial readiness, payer engagement, and expanding field-based capabilities ahead of azetukalner launch.
Cash runway projected to fund operations into 2029 based on current plans.
Anticipate ongoing operating losses and need for additional capital in the future.
AZK efficacy in cenobamate refractory patients
Acute pain Phase II plans for Nav1.7 and Kv7
AZK ease of use benefits for general neurologists
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Latest events from Xenon Pharmaceuticals
- Proxy covers director elections, executive pay, new equity plan, and auditor appointment for 2026.XENE
Proxy filing22 Apr 2026 - Virtual annual meeting to address director elections, compensation, equity plan, and auditor approval.XENEProxy filing22 Apr 2026
- Lead asset shows unprecedented efficacy in epilepsy, with expansion into psychiatry and pain underway.XENE2026 Bloom Burton & Co. Healthcare Investor Conference22 Apr 2026
- Azetukalner achieved robust efficacy and safety in Phase 3 FOS, supporting NDA submission.XENEStudy result9 Mar 2026
- Advanced Phase 3 trials and strong cash position support multi-year operations despite higher net loss.XENEQ4 202526 Feb 2026
- Ezetucalner leads with best-in-class efficacy in epilepsy and MDD, backed by strong funding and pipeline.XENEGoldman Sachs 45th Annual Global Healthcare Conference3 Feb 2026
- Phase 3 epilepsy and MDD programs advance, with $850.6M cash and key data expected in 2025.XENEQ2 20242 Feb 2026
- All resolutions passed, leadership transitioned, and focus remains on neurological innovation.XENEAGM 202431 Jan 2026
- Azetukalner's rapid efficacy and mood benefits set it apart in epilepsy and depression treatment.XENEBofA Securities CNS Therapeutics Virtual Conference 202419 Jan 2026
Next Xenon Pharmaceuticals earnings date
Bank of America Global Healthcare Conference 202614 May, 2026
Xenon Pharmaceuticals
Next Xenon Pharmaceuticals earnings date
Bank of America Global Healthcare Conference 202614 May, 2026
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Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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