Xenon Pharma Reports Positive Phase 1 Data for Pain Candidates XEN1701, XEN1120; Eyes Phase 2 in 2027

Xenon Pharmaceuticals Inc. (XENE) announced positive Phase 1 results and new preclinical data supporting advancement of its pain candidates XEN1701 and XEN1120 into Phase 2 proof-of-concept studies in acute pain. The company expects to initiate those studies in the first half of 2027, pending finalized study designs. XEN1701, a selective NaV1.7 inhibitor, achieved target receptor occupancy in both peripheral and central nervous systems and was generally well-tolerated, with no consistent pattern of autonomic cardiovascular effects. XEN1120, a selective KV7 channel opener, reached plasma exposures predicted to be effective in preclinical models and was also generally well-tolerated in Phase 1. Preclinical data in cynomolgus monkeys showed significant reductions in capsaicin-induced heat pain with comparable compounds; Xenon said the NaV1.7 compound produced pain reductions of approximately 85% to 100% at the two highest doses tested, without clinically meaningful changes in blood pressure or heart rate. The findings were presented at the IASP 2026 World Congress on Pain in Bangkok. XENE traded at $36.61, up 0.74%.