Canada's Xenon Pharmaceuticals posts smaller-than-expected Q3 net loss
XENE•Xenon Pharmaceuticals reported a third-quarter net loss of $110.44 million, below analysts’ $112.96 million estimate. Operating expenses were $120.07 million, driven in part by azetukalner Phase 3 studies and commercialization preparations.
1. Quarterly results
Xenon Pharmaceuticals reported a Q3 net loss of $110.44 million, compared with the $112.96 million consensus estimate from 15 analysts. Operating expenses were $120.07 million; the company said higher research and development costs reflected ongoing Phase 3 studies of azetukalner for major depressive disorder and bipolar depression, while manufacturing and launch-readiness work also contributed.
