Stock To Watch: Xenon Pharmaceuticals (XENE)
Xenon Pharmaceuticals Inc. (XENE) has a couple of key milestone opportunities lined up for this year, making the stock worth watching.
Xenon Pharma is a clinical-stage biopharmaceutical company developing therapeutic drugs addressing neurological disorders.
The most advanced drug candidate in the pipeline is XEN496 for the treatment of KCNQ2-DEE, a severe and rare form of pediatric epilepsy. A phase III trial of XEN496 is expected to be initiated this year.
The other ongoing clinical programs are:
— A phase IIb clinical trial of XEN1101 in adult focal epilepsy, with top-line data anticipated later this year.
— A physician-led phase II study of XEN007 in treatment-resistant childhood absence epilepsy is ongoing, with results expected this year.
— XEN901, now known as NBI-921352, for epilepsy, being developed in partnership with Neurocrine Biosciences, Inc. (NBIX). An IND application seeking FDA nod to start a Phase 2 clinical trial of NBI-921352 in SCN8A developmental and epileptic encephalopathy patients is expected to be filed by Neurocrine Biosciences in the second half of 2020.
Xenon Pharma, which ended September 30, 2019, with cash & cash equivalents and marketable securities of $94.6 million, raised gross proceeds of $60.0 million in a public offering last month.
XENE has traded in a range of $7.58 to $18.10 in the last 1 year. As of this writing, the stock is up 0.29% at $17.23.
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