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Xenon Pharmaceuticals Reports Third Quarter 2022 Financial Results and Provides Corporate Update
XEN1101 Phase 3 program launched with initiation of X-TOLE2 clinical trial Strong financial position of approximately $752 million to fully support XEN1101
About this update from Xenon Pharmaceuticals Inc.
[{"type":"text","content":"XEN1101 Phase 3 program launched with initiation of X-TOLE2 clinical trial Strong financial position of approximately $752 million to fully support XEN1101 Phase 3 program development and expected cash runway into 2026 Conference call at 4:30 pm ET today BURNABY, British Columbia, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq:XENE), a neurology-focused biopharmaceutical company, today reported financial results for the third quarter ended September 30, 2022 and provided a corporate update. Mr. Ian Mortimer, Xenon’s President and Chief Executive Officer, stated, “We have made significant progress during the past quarter to support the initiation of our XEN1101 Phase 3 program. XEN1101 represents the most advanced potassium channel modulator in clinical development, with substantial clinical efficacy data supporting its advancement for the treatment of epilepsy. Backed by a strong scientific rationale, we have ambitious development plans for XEN1101, including the X-TOLE2 and X-TOLE3 clinical trials in focal onset seizures and the Phase 3 X-ACKT clinical trial in primary generalized tonic clonic seizures to be conducted in parallel. We continue to hear from key opinion leaders and prescribing physicians that novel mechanisms are needed to provide new therapeutic options that are clearly differentiated from the currently approved anti-seizure medications. Based on the strength of our Phase 2b efficacy data, our team is committed to advancing our Phase 3 XEN1101 epilepsy program through clinical development and towards commercialization, with the goal of improving the lives of epilepsy patients.” Mr. Mortimer continued, “Looking ahead, in parallel with the important ongoing activities to support our XEN1101 Phase 3 program, 2023 represents another key year for clinical inflection points within our pipeline. As a result of the advancements of our XEN1101 MDD study, we have further refined our guidance with topline data expected in the third quarter of next year. In addition, our partners at Neurocrine expect to have a clinical read-out from their Phase 2 study in adult patients with focal onset seizures in 2023.” Highlights and Anticipated Milestones Proprietary ProgramsXEN1101 is a differentiated Kv7 potassium channel opener being developed for the treatment of epilepsy and major depressive disorder (MDD). XEN...