Xenon Pharmaceuticals Inc (NASDAQ:XENE) announced recently that it has advanced its second Proprietary Epilepsy Product to Phase I Clinical Trial for XEN901 candidate. The Clinical Trial Application (CTA) for XEN901 has already been approved by the Medicines & Healthcare products Regulatory Agency in the UK and the first group of participants has been enrolled in the program.
XEN901 is designed to treat patients with epilepsy and some related seizures such as pediatric focal seizures, other pediatric forms of epilepsy, infantile epileptic encephalopathy and much more.
The company also reported a decline in its earnings compared to the previous year’s performance. For a period of five years, Xenon’s annual revenues have been consistently getting more negative with an average of -21.44% compared to the overall industry performance where most of its counterparts in the US Biotechs industry have realized drastic gains throughout the financial period. As a result, the company is unable to reach breakeven point.
According to Dr. Simon Pimstone, President and CEO at Xenon, with the launch of the XEN901 Phase I clinical trial, the company will have two key anti-epileptic therapeutics in its clinical development each with high potential of reporting positive results. XEN901 follows
The trial is anticipated to support the company’s long-term strategy of becoming a leading company in the development of exceptional therapeutically distinctive alternatives to the treatment of epilepsy and related conditions. The progress may further help increase the earnings for the firm and perhaps improve the overall performance of the company.
XEN901 is a greatly selective Nav1.6 inhibitor that is currently in the development phase and has the potential to provide efficacious treatment particularly if offered with superior therapeutic index, which has enhanced target selectivity.
The development of XEN1101, for treatment of epilepsy that is also still in Phase I development. The two Phase I clinical trials could possibly proceed to the next Phase if there is evidence of supportive data.