Xenon Q3 Loss Narrower Than Expected, Pipeline Development in Focus

Zacks11-13

Xenon Pharmaceuticals Inc. XENE reported a loss of 81 cents per share for the third quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 82 cents. The company had incurred a loss ...

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The company had incurred a loss ...</p>\n\n<a href=\"https://finance.yahoo.com/news/xenon-q3-loss-narrower-expected-155000607.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xenon Q3 Loss Narrower Than Expected, Pipeline Development in Focus</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXenon Q3 Loss Narrower Than Expected, Pipeline Development in Focus\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 23:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/xenon-q3-loss-narrower-expected-155000607.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Xenon Pharmaceuticals Inc. XENE reported a loss of 81 cents per share for the third quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 82 cents. The company had incurred a loss ...</p>\n\n<a href=\"https://finance.yahoo.com/news/xenon-q3-loss-narrower-expected-155000607.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2065170008.USD","symbol_name":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/xenon-q3-loss-narrower-expected-155000607.html","article_id":"2483371358","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/kHYuj_GDhroF7BEQsCcsVA--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/4658663242c3a61dee3fef55a1bf4887"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483371358","pubTimestamp":1731513000,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Xenon Pharmaceuticals Inc.XENE reported a loss of 81 cents per share for the third quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 82 cents. The company had incurred a loss of 73 cents per share in the year-ago quarter.In the reported quarter, Xenon did not generate any revenues. Due to the absence of a marketed product, the company only recognizes periodic collaboration revenues in its top line from its ongoing partnership with Neurocrine Biosciences NBIX for XEN901, now known as NBI-921352. The company did not recognize any revenues in the year-ago quarter as well.NBI-921352 is a selective Nav1.6 sodium channel inhibitor. Neurocrine is currently evaluating NBI-921352 in a phase II study to treat patients aged 2-21 years with SCN8A developmental and epileptic encephalopathy. Per the terms of the agreement with NBIX, Xenon is eligible to receive certain clinical, regulatory and commercial milestone-based payments, as well as royalties on future sales.Xenon, in ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","XENE":"Xenon制药","BK4588":"碎股","BIIB":"渤健公司","ALLO":"Allogene Therapeutics Inc.","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","BK4505":"高瓴资本持仓","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU2324357040.USD":"HSBC GIF GLOBAL EQUITY SUSTAINABLE HEALTHCARE \"AC\" (USD) ACC","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU0889565916.HKD":"FRANKLIN BIOTECHNOLOGY DISCOVERY \"A\" (HKD) ACC","NBIX":"神经分泌生物科学","BK4532":"文艺复兴科技持仓","LU0823416689.USD":"BNP PARIBAS HEALTH CARE INNOVATORS \"C\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4139":"生物科技","IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","BK4533":"AQR资本管理(全球第二大对冲基金)","ABVC":"ABVC BioPharma, Inc.","LU0320765992.SGD":"FTIF - Franklin Biotechnology Discovery A Acc SGD","LU0109394709.USD":"富兰克林生物科技新领域基金A (acc)"},"translate_title":"Xenon第三季度亏损窄于预期，管道开发成为焦点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALLO":1,"BIIB":1,"NBIX":1,"XENE":0.9,"ABVC":0.79},"content_text":"Xenon Pharmaceuticals Inc. XENE reported a loss of 81 cents per share for the third quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 82 cents. The company had incurred a loss of 73 cents per share in the year-ago quarter.\nIn the reported quarter, Xenon did not generate any revenues. Due to the absence of a marketed product, the company only recognizes periodic collaboration revenues in its top line from its ongoing partnership with Neurocrine Biosciences NBIX for XEN901, now known as NBI-921352. The company did not recognize any revenues in the year-ago quarter as well. \nNBI-921352 is a selective Nav1.6 sodium channel inhibitor. Neurocrine is currently evaluating NBI-921352 in a phase II study to treat patients aged 2-21 years with SCN8A developmental and epileptic encephalopathy. Per the terms of the agreement with NBIX, Xenon is eligible to receive certain clinical, regulatory and commercial milestone-based payments, as well as royalties on future sales.\nXenon, in collaboration with Neurocrine, is also currently evaluating the next lead candidate, a Nav1.2/1.6 inhibitor, in pre-clinical studies, aiming to progress into clinical studies in 2025 as a potential treatment for focal onset seizures (FOS).\nFind the latest EPS estimates and surprises on Zacks Earnings Calendar.\nXENE’s Q3 Results in Detail\nIn the third quarter of 2024, research and development (R&D) expenses increased 33% to $57 million compared with $42.9 million in the year-ago period. The uptick was primarily due to increased expenses related to the company’s azetukalner late-stage epilepsy studies, as well as pre-clinical and discovery programs to advance multiple potential drug candidates.\nYear to date, shares of XENE have lost 5.8% compared with the industry’s 0.9% decline.\nImage Source: Zacks Investment Research\nGeneral and administrative expenses were $16.7 million in the reported quarter, up 30% year over year. The significant rise was on the grounds of increased personnel-related costs due to higher employee headcount and stock-based compensation expenses.\nXenon had cash, cash equivalents and marketable securities worth $803.3 million as of Sept. 30, 2024, compared with $850.6 million as of June 30, 2024. The company expects its existing cash balance to fundits current operating plans,which include the completion of the azetukalner phase III epilepsy studies and fully supporting late-stage clinical development of azetukalner in major depressive disorder (MDD) into 2027.\nXENE’s Pipeline Updates\nXenon has no approved products in its portfolio at the moment. Therefore, pipeline development remains the key focus of the company.\nXENE is currently developing azetukalner in late-stage studies for treatingFOS. Under the phase III epilepsy program, two identical phase III studies, X-TOLE2 and X-TOLE3, are evaluating 15 mg or 25 mg doses of azetukalner, administered with food as adjunctive treatment in patients with FOS. The first top-line data readout from the X-TOLE2 study is anticipated in the second half of 2025.\nThe company is also evaluating azetukalner for primary generalized tonic-clonic seizures in a phase III X-ACKT study, which is currently enrolling patients and intends to support potential regulatory submissions in this additional epilepsy indication.\n\nXenon Pharmaceuticals Inc. Price and Consensus\n\nXenon Pharmaceuticals Inc. price-consensus-chart | Xenon Pharmaceuticals Inc. Quote\n\nXenon has also completed a phase II proof-of-concept study on azetukalner called X-NOVA for patients with MDD. Based on the success of the mid-stage study, the company expects to initiate the X-NOVA2 study, the first of three phase III studies evaluating azetukalner in patients with MDD, before 2024 ends. \nXenon is also currently collaborating with the Icahn School of Medicine at Mount Sinai to support an ongoing investigator-sponsored phase II proof-of-concept study of azetukalner for the treatment of MDD in approximately 60 subjects. Patient enrollment in the same has been completed and top-line results are anticipated in the first half of 2025.\nFurthermore, XENE is currently evaluating multiple preclinical therapeutic candidates targeting Kv7, Nav1.7 and Nav1.1 across various indications, aiming to advance them into clinical development in 2025.\nXENE’s Zacks Rank & Stocks to Consider\nXenon currently carries a Zacks Rank #3 (Hold). \nSome better-ranked pharma stocks are Allogene Therapeutics ALLO and Biogen BIIB, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nAllogene Therapeutics’ loss estimates per share have narrowed from $1.41 to $1.36 for 2024 over the past 60 days, while that for 2025 has narrowed from $1.46 to $1.36 per share. ALLO’s shares have lost 11.5% year to date.\nAllogene Therapeutics’ earnings beat estimates in three of the trailing four quarters and matched once, delivering an average surprise of 9.42%.\nBiogen’s earnings estimates have risen from $16.12 to $16.38 per share for 2024 over the past 60 days, while that for 2025 has increased from $17.09 to $17.16. BIIB’s shares have lost 35% year to date.\nBiogen’s earnings beat estimates in three of the trailing four quarters and missed the same in one, delivering an average surprise of 9.99%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBiogen Inc. (BIIB) : Free Stock Analysis Report\nNeurocrine Biosciences, Inc. (NBIX) : Free Stock Analysis Report\nXenon Pharmaceuticals Inc. (XENE) : Free Stock Analysis Report\nAllogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483371358"}