Xenon Pharmaceuticals (XENE) Misses Q2 EPS by 3c

Xenon Pharmaceuticals (NASDAQ: XENE) reported Q2 EPS of ($0.51), $0.03 worse than the analyst estimate of ($0.48). Revenue for the quarter came in at $2.2 million versus the consensus estimate of $2.33 million.

Mr. Ian Mortimer, Xenon’s President and Chief Executive Officer stated, “We continue to make strong progress across our portfolio of proprietary and partnered neurology-focused therapeutic programs. Importantly, we remain on track to report topline data from our XEN1101 Phase 2b X-TOLE study in late September to mid-October and believe these results could represent a key inflection point for the company. In anticipation of this important milestone, last month, we hosted a webinar with two leading key opinion leaders in the epilepsy space to discuss the focal epilepsy landscape, the X-TOLE clinical trial and the important attributes of XEN1101 and its potential in the treatment of adult focal epilepsy.”

Mr. Mortimer added, “Patient enrollment continues in our XEN496 Phase 3 ‘EPIK’ clinical trial, as well as the investigator-led study examining XEN007 in absence seizures. We also expect that our partnered programs will reach important milestone events in 2021, with Neurocrine Biosciences anticipating the advancement of NBI-921352 into Phase 2 clinical development, and Flexion Therapeutics expecting topline results from its Phase 1b FX301 clinical trial.”

For earnings history and earnings-related data on Xenon Pharmaceuticals (XENE) click here.

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