Xenon Reports Q3 2026 Net Loss of $110.4 Million; Cash Totals $1.2 Billion
Xenon reported third-quarter 2026 results with no revenue in either period, a net loss of $110.4 million versus $90.9 million a year earlier, and higher research and development and general and administrative spending. Loss per share narrowed to $1.11 from $1.15, and the company said its cash funds operations into 2029. Shareholders should note that the X-NOVA2 depression study readout is now expected in December 2026 and that enrollment of new patients in the depression and bipolar Phase 3 studies was paused in September.
Key points
- Net loss was $110.4 million for Q3 2026 versus $90.9 million for Q3 2025; loss per share was $1.11 versus $1.15.
- No revenue was recorded in Q3 2026 or Q3 2025. Research and development expenses rose to $95.6 million from $77.1 million.
- Cash, cash equivalents and marketable securities were $1,153.5 million at September 30, 2026, compared with $586.0 million at December 31, 2025.
- The azetukalner New Drug Application for focal seizures was submitted to the FDA in September 2026; X-NOVA2 topline data are now expected in December 2026.
The filing
Written by AI on Nov 9, 2026, 4:06 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.