Xenon Pharmaceuticals (NASDAQ: XENE) reported Q1 EPS of ($0.30), versus the analyst estimate of $0.14. Revenue for the quarter came in at $4 million versus the consensus estimate of $4.65 million.

Dr. Simon Pimstone, Xenon's President and Chief Executive Officer, said, "We continue to make good progress towards our goal of advancing a diversified pipeline of partnered and proprietary programs. In our Teva collaboration, Teva recently initiated patient enrollment in a Phase 2b clinical trial of TV-45070 in postherpetic neuralgia, or PHN, with results expected in the second half of 2016. Teva's Phase 2b trial of TV-45070 in osteoarthritis remains on track and we expect results from the trial in the third quarter of this year. Our collaborations with Genentech are also proceeding well; the Phase 1 clinical trial of GDC-0276 is expected to complete enrollment later this year and we are progressing toward identifying new pain targets. In addition, we continue to make progress in our proprietary pipeline with a focus on advancing our acne product, XEN801, into clinical development later this year, filing an IND in our Dravet Syndrome program in 2016 and identifying novel target using our Extreme Genetics platform."

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