06:10 AM EDT, 03/11/2026 (MT Newswires) -- (Updates to include the most recent stock move in the last paragraph)

Xenon Pharmaceuticals ( XENE ) said Tuesday it has priced an upsized $650 million underwritten public offering at $57 per common share.

Under the offering, the company said it will sell about 10.5 million shares. It will also offer pre-funded warrants for the purchase of up to 877,194 shares.

Additionally, the company said it has granted underwriters an option to buy up to 1.7 million shares at the same price.

Xenon said the offering is expected to close around Thursday.

Shares of the company were down more than 3% in premarket activity Wednesday.

Price: 58.74, Change: -1.87, Percent Change: -3.09