Xenon Pharmaceuticals Inc.
Business
Xenon Pharmaceuticals is a neuroscience-focused biopharmaceutical company dedicated to discovering, developing and commercializing therapeutics for neurological and psychiatric disorders. Its lead product candidate, azetukalner, a Kv7 potassium channel opener, is in Phase 3 clinical development for epilepsy (focal onset seizures and primary generalized tonic-clonic seizures), major depressive disorder, and bipolar depression. The company also has early-stage programs in pain and epilepsy targeting ion channels, and a partnered program with Neurocrine Biosciences for sodium channel inhibitors. Xenon operates in the U.S. and international markets through direct development and commercialization, as well as through collaboration agreements.
Summary from 10-K filed 2026-02-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Collaboration revenue (note 10) | 8 | 0 | 0 | 9 | 18 | |
| Research and development | 301 | 210 | 168 | 106 | 75 | |
| General and administrative | 80 | 69 | 47 | 33 | 22 | |
| Total operating expenses | 381 | 279 | 214 | 139 | 97 | |
| Loss from operations | −373 | −279 | −214 | −129 | −79 | |
| Interest income | 27 | 42 | 28 | 9 | 466,000 | |
| Unrealized fair value gain on trading securities | 0 | 0 | 4 | −3 | −719,000 | |
| Foreign exchange gain (loss) | 1 | −1 | 199,000 | −2 | 358,000 | |
| Total other income | 28 | 41 | 31 | 4 | 105,000 | |
| Loss before income taxes | −345 | −238 | −183 | −125 | −79 | |
| Income tax recovery (expense) (note 14) | −1 | 4 | 292,000 | −118,000 | 6,000 | |
| Net loss | −346 | −234 | −182 | −125 | −79 | |
| Unrealized gain (loss) on available-for-sale securities (note 5) | 2 | −2 | 3 | −2 | — | |
| Comprehensive loss | −344 | −236 | −179 | −127 | −79 | |
| Basic (per share) | −4.36 | −3.01 | −2.73 | −2.06 | −1.77 | |
| Diluted (per share) | −4.36 | −3.01 | −2.73 | −2.06 | −1.77 | |
| Basic (shares) | 79 | 78 | 67 | 61 | 44 | |
| Diluted (shares) | 79 | 78 | 67 | 61 | 44 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 199 | 143 | 149 | 57 | 176 | |
| Marketable securities (note 5) | 350 | 484 | 489 | 535 | 376 | |
| Other receivables | 1 | 1 | — | — | — | |
| Prepaid expenses and other current assets | 10 | 7 | 6 | 7 | 4 | |
| Total current assets | 561 | 635 | 645 | 600 | 559 | |
| Marketable securities, long-term (note 5) | 37 | 127 | 293 | 129 | 0 | |
| Operating lease right-of-use asset, net (note 7) | 7 | 8 | 9 | 10 | 8 | |
| Property, plant and equipment, net (note 6) | 9 | 10 | 10 | 7 | 4 | |
| Deferred tax assets (note 14) | 13 | 10 | 802,000 | 509,000 | 465,000 | |
| Prepaid expenses, long-term | 7 | 7 | 7 | 8 | 0 | |
| Total assets | 633 | 798 | 965 | 754 | 572 | |
| Accounts payable and accrued liabilities (note 8) | 40 | 34 | 26 | 22 | 14 | |
| Operating lease liability (note 7) | 2 | 1 | 1 | 488,000 | 605,000 | |
| Total current liabilities | 42 | 36 | 27 | 23 | 14 | |
| Operating lease liability, long-term (note 7) | 6 | 8 | 10 | 10 | 8 | |
| Other liabilities, long-term | 3 | 0 | — | — | — | |
| Total liabilities | 51 | 43 | 37 | 33 | 22 | |
| Common shares, without par value; unlimited shares authorized; issued and outstanding: 80,010,790 (December 31, 2024 - 76,413,086) (note 9) | 1,599 | 1,457 | 1,436 | 1,065 | 783 | |
| Additional paid-in capital | 228 | 199 | 157 | 142 | 117 | |
| Accumulated deficit | −1,245 | −899 | −665 | −483 | −357 | |
| Accumulated other comprehensive income (loss) | 335,000 | −2 | −77,000 | −3 | −990,000 | |
| Total shareholders' equity | 582 | 755 | 928 | 721 | 550 | |
| Total liabilities and shareholders equity | 633 | 798 | 965 | 754 | 572 | |
| Commitments and contingencies (note 12) | — | — | — | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −346 | −234 | −182 | −125 | −79 | |
| Interest receivable and accretion of discounts on marketable securities | 7 | 816,000 | −6 | −3 | — | |
| Depreciation of property, plant and equipment | 3 | 3 | 2 | 1 | 906,000 | |
| Non-cash operating lease expense | 1 | 1 | 1 | 819,000 | — | |
| Deferred income tax recovery | −3 | −9 | −292,000 | −44,000 | 58,000 | |
| Stock-based compensation | 54 | 51 | 32 | 20 | 10 | |
| Realized loss on marketable securities | 625,000 | 0 | 0 | — | — | |
| Unrealized foreign exchange (gain) loss | 73,000 | 745,000 | −640,000 | 3 | 327,000 | |
| Other receivables | 104,000 | −614,000 | 130,000 | — | — | |
| Prepaid expenses and other assets | −3 | −984,000 | 2 | −10 | −2 | |
| Accounts payable and accrued liabilities | 6 | 9 | 4 | 8 | 3 | |
| Operating lease liability | −1 | −1 | 267,000 | −600,000 | — | |
| Other liabilities | 3 | — | — | — | — | |
| Net cash used in operating activities | −279 | −181 | −151 | −101 | −70 | |
| Purchases of property, plant and equipment | −799,000 | −3 | −6 | −3 | −2 | |
| Purchase of marketable securities | −356 | −532 | −794 | −551 | −389 | |
| Proceeds from marketable securities | 574 | 700 | 688 | 261 | 145 | |
| Net cash provided by (used in) investing activities | 218 | 165 | −111 | −293 | −247 | |
| Proceeds from offerings, net | 112 | 12 | 353 | — | — | |
| Proceeds from exercise of stock options | 5 | 47,000 | 35,000 | 705,000 | — | |
| Net cash provided by financing activities | 117 | 12 | 354 | 278 | 448 | |
| Effect of exchange rate changes on cash and cash equivalents | 458,000 | −2 | 376,000 | −2 | −592,000 | |
| Increase (decrease) in cash and cash equivalents | 56 | −6 | 91 | −118 | 131 | |
| Cash paid for operating lease | 2 | 2 | 2 | 919,000 | 824,000 | |
| Cash received for lease incentives | — | — | 1 | — | — | |
| Fair Value of Stock Options and Warrants Exercised on a Cashless Basis | 21 | 8 | 5 | — | — | |
| Fair Value of Warrant and Pre-funded Warrants Exercised | 291,000 | — | 36 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Xenon Pharmaceuticals Inc.'s CIK number?
Xenon Pharmaceuticals Inc.'s SEC CIK number is 0001582313 (1582313). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Xenon Pharmaceuticals Inc.'s SEC filings?
All of Xenon Pharmaceuticals Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Xenon Pharmaceuticals Inc. last report earnings?
Xenon Pharmaceuticals Inc. (XENE) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-211843). This is Xenon Pharmaceuticals Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Xenon Pharmaceuticals Inc.'s most recent earnings 8-K?
Xenon Pharmaceuticals Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-211843. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Xenon Pharmaceuticals Inc.'s latest earnings 8-K →
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