Xenon Pharmaceuticals Inc.

We are a neuroscience-focused biopharmaceutical company that discovers, develops, and sells medicines. Our main product pipeline is led by azetukalner, an investigational candidate currently in multiple Phase 3 studies for epilepsy, major depressive disorder (MDD), and bipolar depression (BPD). Our earlier-stage pipeline includes Kv7 potassium channel openers and Nav sodium channel modulators, which are being developed for specific high-need conditions, including pain. Our strategy is to become a fully-integrated and profitable biopharmaceutical company that finds, develops, and sells new treatments for various neurological and psychiatric disorders. We use our discovery capabilities, based on our understanding of channelopathy genetics and proprietary biology and medicinal chemistry, to identify potential product candidates. We advance selected proprietary candidates through clinical development and selectively form collaborations to expand our capabilities or address broader commercial opportunities. We also look for ways to expand our pipeline by developing existing products for new conditions, acquiring new products, or licensing external candidates. We commercialize our product candidates, either alone or with partners, including azetukalner, which is being studied for epilepsy and depression. Azetukalner is a novel, potent Kv7 potassium channel opener and is the most advanced, clinically-validated potassium channel modulator in late-stage clinical development. It is being developed for multiple conditions, including two types of epilepsy: focal onset seizures (FOS) and primary generalized tonic-clonic seizures (PGTCS), as well as neuropsychiatric disorders like MDD or BPD. Our Phase 3 clinical studies for azetukalner in FOS (X-TOLE2 and X-TOLE3) are ongoing. The X-TOLE2 study has completed enrollment with 380 patients randomized, and results are expected in the first half of March 2026. The X-TOLE3 study is still enrolling and aims to support regulatory submissions outside the United States.