Overview

* Xenon Pharmaceuticals ( XENE ) posts Q3 net loss, beats analyst expectations

* Company completed patient randomization for Phase 3 X-TOLE2 study

* Tucker Kelly appointed as CFO ahead of azetukalner launch

Outlook

* Xenon anticipates topline data from Phase 3 X-TOLE2 study in early 2026

* Company expects sufficient cash to fund operations into 2027

* Xenon continues recruitment for Phase 3 studies in MDD and BPD

Result Drivers

* INCREASED R&D EXPENSES - Higher R&D costs driven by azetukalner Phase 3 studies in MDD and BPD

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net Beat -$90.89 -$91.73

Income mln mln (16

Analysts

)

Q3 -$96.33

Income mln

from

Operatio

ns

Q3 $96.33

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Xenon Pharmaceuticals Inc ( XENE ) is $55.00, about 23.8% above its October 31 closing price of $41.92

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)