Xenon Pharmaceuticals Inc. (XENE) shares jumped 47.54 percent to $61.88 on Monday, gaining $19.94 after the company reported positive Phase 3 results for its epilepsy drug candidate Azetukalner.
The stock is currently trading at $61.88 compared with its previous close of $41.94. Shares opened at $60.56 and traded between $58.00 and $62.64 during the session on the Nasdaq. Trading volume reached about 7.94 million shares, far above the average volume of about 0.92 million shares.
The Phase 3 X-TOLE2 study met its primary endpoint, with patients receiving the 25 mg dose of Azetukalner showing a 53.2 percent median reduction in monthly seizure frequency compared with 10.4 percent for placebo. The lower 15 mg dose produced a 34.5 percent reduction. The company plans to submit a New Drug Application to the U.S. FDA in the third quarter of 2026.
The stock has traded in a 52-week range of $26.74 to $62.64.
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