Xenon Pharmaceuticals Outlines Key Milestone Opportunities for 2024

Completion of Patient Enrollment in XEN1101 Phase 3 X-TOLE2 Clinical Trial in Focal Onset Seizures Anticipated in Second Half of 2024

XEN1101 Phase 3 Program in Major Depressive Disorder Planned for Initiation in 2024

VANCOUVER, British Columbia, Jan. 08, 2024 (GLOBE NEWSWIRE) --  Xenon Pharmaceuticals Inc. (Nasdaq:XENE), a neurology-focused biopharmaceutical company, today outlined progress within its pipeline programs and key milestones for 2024.

Mr. Ian Mortimer, Xenon’s President and Chief Executive Officer, stated, “We enter this year well positioned to continue to execute on our broad XEN1101 clinical program, which represents the most advanced potassium channel modulator in clinical development for multiple indications. Most recently, the data we generated in our Phase 2 proof-of-concept X-NOVA clinical trial demonstrated clinically meaningful drug activity in depression, in addition to further supporting XEN1101’s highly differentiated profile in epilepsy. With a strong financial position, we are actively planning for late-stage development of XEN1101 in depression and evaluating potential development in additional neurological indications, as we believe this mechanism potentially has broad applicability.”

Mr. Mortimer added, “We also remain focused on our goal to improve outcomes for epilepsy patients where there continues to be a significant need for new, differentiated anti-seizure medications. We continue to progress our Phase 3 epilepsy clinical trials and importantly, we anticipate that patient enrollment in X-TOLE2 will be completed in the second half of this year. In addition, the ongoing XEN1101 Phase 2b X-TOLE open label extension epilepsy study has now collected over 500 patient years of data and has been extended from five to seven years. Our interim analyses completed to date have continued to demonstrate compelling efficacy data and seizure freedom rates, while building upon the safety and tolerability profile of XEN1101.”

Mr. Mortimer continued, “In addition to our clinical stage programs, we continue to conduct important pre-clinical work that leverages our expertise in ion channel drug development, and we expect multiple drug candidates will enter IND-enabling studies in 2024 and 2025 with a focus on our leadership in the Kv7 space as well as new potential opportunities targeting Nav1.1 for seizure disorders and Nav1.7 for pain. We expect to provide additional updates as these discovery programs advance through IND-enabling studies and into clinical development.”