Xenon pauses depression trial enrollment
- Xenon Pharmaceuticals (NASDAQ:XENE) paused new enrollment in clinical studies for its depression drug candidate.
- Shares fell 26.5% premarket after the company reported side effects in trial participants.
- Existing patients will remain on treatment while Xenon evaluates potential dose adjustments.
Xenon Pharmaceuticals (NASDAQ:XENE) shares declined after the company temporarily paused new patient enrollment in clinical studies evaluating its drug candidate for major depression and bipolar depression.
The company said the pause followed reports of side effects, including confusion, speech difficulties, motor coordination issues and a small number of cases classified under the broad term “psychosis.”
Xenon said new enrollment has been temporarily paused as it reviews the safety profile of the drug candidate, while patients already participating in the depression and bipolar disorder studies will continue receiving treatment.
Following the announcement, Xenon Pharmaceuticals' share price was down 26.5% at $42.13 in premarket trading.
Xenon develops therapies for neurological disorders and has also submitted an application to the U.S. Food and Drug Administration for azetukalner, an investigational epilepsy treatment.
The company’s shares had gained about 28% year to date before the premarket decline, according to market data, as investors continued tracking progress across its drug development programs.
