Xenon Pharmaceuticals tumbles after pausing depression-trial enrollment
-30.69% to $39.75 from $57.35
What moved XENE
- Xenon paused new-patient enrollment in its Phase 3 trials of azetukalner for major depressive disorder and bipolar depression following a review of neuropsychiatric adverse events; existing participants continue treatment while the company evaluates possible dosage adjustments.
- Deutsche Bank downgraded the stock following the announcement.
- Separately, Xenon filed a New Drug Application with the FDA for azetukalner as a treatment for focal seizures in epilepsy, an indication the enrollment pause does not affect.
- At least one analyst characterized the market’s reaction to the pause as overblown relative to the underlying safety signal.
Sources: Gurufocus · Seeking Alpha · RTTNews · Benzinga