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XENE News
XENE Events
Biohaven Enters Global Licensing Agreement with SK Biopharmaceuticals
H.C. Wainwright notes that Biohaven (BHVN) announced a global licensing and collaboration agreement granting SK Biopharmaceuticals an exclusive worldwide license to its Kv7 ion channel platform, led by opakalim, in Phase 2/3 development for focal epilepsy. With Xenon's (XENE) azetukalner reporting such strong data in the Phase 3 XTOLE-2 study, Biohaven likely recognized that there was real risk that opakalim didn't convincingly demonstrate a differentiated profile, which would have made it hard to finance on attractive terms, the firm says. Wainwright has a Neutral rating on Biohaven with a price target of $10.
Xenon Announces Positive Results from X-TOLE2 Study
"In the first quarter of 2026, we announced positive results from our X-TOLE2 study, which exceeded expectations and reinforced azetukalner's significant potential to provide a new therapeutic option for FOS patients with uncontrolled seizures. The strong X-TOLE2 results have paved the way for us to submit an NDA to the FDA in the third quarter of 2026 and our commercial preparedness activities are well underway, supported by our strong balance sheet with cash runway into 2029," said Ian Mortimer, President and Chief Executive Officer of Xenon. "We remain enthusiastic about broadening the opportunity for azetukalner beyond FOS and are making good progress advancing multiple additional Phase 3 studies in epilepsy and neuropsychiatry indications. Additionally, we are looking forward to completing the first-in-human studies for our novel programs targeting NaV1.7 and KV7 in pain later this year."
Xenon Pharmaceuticals Presents Positive Data on Azetukalner at Neurology Annual Meeting
Xenon Pharmaceuticals presented positive data from the Phase 3 X-TOLE2 study highlighting the efficacy and safety of azetukalner in focal onset seizures at the American Academy of Neurology Annual Meeting, taking place April 18-22, 2026 in Chicago, Illinois. Xenon is also presenting data at the AAN meeting that reinforce the significant opportunity for azetukalner in epilepsy, including 48-month data from the ongoing X-TOLE open-label extension, OLE, study, as well as real-world data reinforcing the potential value that no-titration options like azetukalner would bring to epilepsy management. Azetukalner, AZK, is a novel, potent, KV7 potassium channel opener currently in clinical development for epilepsy and depression.
Deal Size Increased to $650M in Common Stock
The deal size was increased to $650M in common stock from $500M in common stock. JPMorgan, Jefferies, TD Cowen, Stifel, RBC Capital and William Blair acted as joint book running managers for the offering.
Major Averages Volatile Amid Oil Price Spike
The major averages looked headed toward a down day amid another spike in oil prices due to the war in Iran and fears of broad stagflation. However, stocks rebounded into the green and oil prices declined after President Trump reportedly told a CBS reporter that the Iran war could be over soon, being quoted by CBS News Senior White House Correspondent Weijia Jiang asthat he thinks the war is "very complete, pretty much." Meanwhile, the Financial Times reported that G7 officials are considering tapping into strategic reserves.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Hims & Hersreached a pact with Novo Nordiskto bringLive Nationis near a settlement with the U.S. Department of Justice under which it may avoid selling Ticketmaster,Universal HealthTalkspacefor $5.25 per shareOpenAIAI security platform PromptfooAirlines are reconsidering growth plans amid the war in Iran,2. WALL STREET CALLS:Verizonto Outperform from Sector Perform at ScotiabankGE Vernovato Buy from Sell at Rothschild & Co RedburnuniQureat RBC Capital and Wells Fargo after news of Vinay Prasad leaving FDAJefferies Financialto Equal Weight at Morgan StanleyStarbucksto Peer Perform at Wolfe Research as a new analyst took over coverage3. AROUND THE WEB:Appleis pushing back the planned launch of its smart home display, Bloomberg saysAirbusis debating on a joint bid with Rheinmetalland OHB to build an internet service for the Bundeswehr armed forces, Bloomberg reportsTencentplans to invest several hundred million dollars on Paramount Skydance'sacquisition of Warner Bros Discovery, Bloomberg reportsKKRis working on a sale of CoolIT Systems, hoping to fetch a price tag in excess of $3B, The Financial Times reportsSamsung'sconsumer device chief TM Roh says the company is "open to strategic co-operation" with more AI groups, FT reports4. MOVERS:Xene Pharmaceuticalsgained after announcing its Phase 3 X-TOLE2 studyRelmadaincreased after reporting 12-month Phase 2Dianthusadvanced afterand announcing an early GO decision based on its Phase 3 trial of claseprubartOric Pharmaceuticalsfell after rival drugmaker Ipsenannounced it isin all indications from all Ipsen marketsFuelCellclosed lower after5. EARNINGS/GUIDANCE:Nayax, with CEO Yair Nechmad commenting, "Nayax delivered strong 2025 results and a very solid fourth quarter"Korn Feryand provided guidance for Q4ARS Pharmaceuticals, with EPS and revenue beating consensusSignet Jewelersprovidedand FY26Genius Groupreportedand provided guidance for FY26INDEXES:The Dow rose 239.25, or 0.50%, to 47,740.80, the Nasdaq gained 308.26, or 1.38%, to 22,695.95, and the S&P 500 advanced 55.97, or 0.83%, to 6,795.99.
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