Xenon Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Xenon Pharmaceuticals (Nasdaq: XENE) has announced equity inducement grants to seven new non-officer employees, totaling 55,300 share options. The options, approved by the Compensation Committee, were granted at an exercise price of $38.60 per common share, matching the closing price on August 28, 2025.

The options vest over four years, with 25% vesting after one year and the remaining vesting monthly over three years. Each option has a 10-year term under the Company's 2025 Inducement Equity Incentive Plan.

Xenon is advancing azetukalner, their lead molecule, in Phase 3 trials for epilepsy, major depressive disorder, and bipolar depression, while also developing early-stage potassium and sodium channel modulators in Phase 1 for pain treatment.

Positive

• Company is expanding its workforce with seven new hires
• Lead drug candidate azetukalner is advancing in Phase 3 clinical trials for multiple indications
• Multiple early-stage programs in development for pain treatment

Negative

• Share options will result in dilution for existing shareholders

News Market Reaction

+1.52%

1 alert

+1.52% News Effect

On the day this news was published, XENE gained 1.52%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, British Columbia and BOSTON, Aug. 29, 2025 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need, today announced equity inducement grants to seven new non-officer employees consisting of an aggregate of 55,300 share options. All of the foregoing share options were approved by the Compensation Committee of the Company’s Board of Directors with an effective date of August 28, 2025 and were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The share options have an exercise price of $38.60 per common share, which is equal to the closing price per share of Xenon’s common shares on the grant date of August 28, 2025. The share option grants vest over four years, with 25% vesting on the one-year anniversary of the respective employee’s start date and 1/36th of the remaining options vesting monthly thereafter on the last day of each month, subject to such option recipient’s continued service relationship with the Company. Each option has a 10-year term and is subject to the terms and conditions of the share option agreement and the terms of the Company’s 2025 Inducement Equity Incentive Plan.

About Xenon Pharmaceuticals Inc.

Xenon Pharmaceuticals (Nasdaq: XENE) is a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need. Xenon’s lead molecule, azetukalner, is a novel, potent, selective Kv7 potassium channel opener in Phase 3 clinical trials for the treatment of epilepsy, major depressive disorder (MDD) and bipolar depression (BPD). Xenon is also advancing an early-stage portfolio of multiple promising potassium and sodium channel modulators, including Kv7 and Nav1.7 programs in Phase 1 development for the potential treatment of pain. Xenon has offices in Vancouver, British Columbia, and Boston, Massachusetts. For more information, visit www.xenon-pharma.com and follow us on LinkedIn and X.

“Xenon” and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in various jurisdictions. All other trademarks belong to their respective owner.

Contact:

Colleen Alabiso
Senior Vice President, Corporate Affairs
(617) 671-9238
Media: media@xenon-pharma.com
Investors: investors@xenon-pharma.com

FAQ

What equity grants did Xenon Pharmaceuticals (XENE) announce in August 2025?

Xenon announced 55,300 share options granted to seven new non-officer employees at an exercise price of $38.60 per share, with a four-year vesting schedule.

What is the vesting schedule for XENE's August 2025 inducement grants?

The options vest over 4 years, with 25% vesting after one year and the remaining 75% vesting monthly over the following three years.

What is Xenon Pharmaceuticals' (XENE) lead drug candidate?

Xenon's lead molecule is azetukalner, a Kv7 potassium channel opener in Phase 3 trials for epilepsy, major depressive disorder, and bipolar depression.

What therapeutic areas is Xenon Pharmaceuticals (XENE) focusing on?

Xenon is focused on neuroscience therapeutics, developing treatments for epilepsy, major depressive disorder, bipolar depression, and pain management.