Xenon Pharmaceuticals (XENE) Misses Q3 EPS by 8c

November 3, 2016 4:57 PM EDT
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Xenon Pharmaceuticals (NASDAQ: XENE) reported Q3 EPS of ($0.51), $0.08 worse than the analyst estimate of ($0.43). Revenue for the quarter came in at $400 thousand versus the consensus estimate of $2.2 million.

Dr. Simon Pimstone, Xenon's President and Chief Executive Officer, said, “We have continued our momentum with a strong quarter, which included the completion of a successful public offering that bolstered our balance sheet and supports our program goals going forward. We completed enrollment in our XEN801 Phase 2 clinical trial in patients with moderate to severe acne, and have advanced our other key programs toward important inflection points. We believe we are on the cusp of several major milestones over the next 6 to 12 months that have the potential to accelerate the growth trajectory of our company, including: the topline data read-out from our XEN801 Phase 2 acne clinical trial; the advancement of the Nav1.7 pain program in collaboration with Genentech into a Phase 2 clinical trial; and a topline data read-out from the Phase 2b clinical trial in post-herpetic neuralgia in our partnership with Teva.”

Dr. Pimstone added, “We also continue to make progress with our earlier-stage discovery and development efforts, such as our work to develop potent, selective Nav1.6 inhibitors for treatment of rare infantile epileptic encephalopathies and other forms of epilepsy. We continue to strategically manage our product portfolio as we pursue multiple therapeutic opportunities that fit well with our strategic goals and capabilities.”

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

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