Xenon jumps on pos­i­tive da­ta-to-im­me­di­ate pub­lic of­fer­ing train to bankroll PhI­II epilep­sy study

Af­ter woo­ing in­vestors last Oc­to­ber with a suc­cess­ful Phase IIb, Xenon Phar­ma­ceu­ti­cals is back with more da­ta on an ex­pan­sion study for its dai­ly epilep­sy pill, and the biotech im­me­di­ate­ly went to the pub­lic mar­kets to drum up the cash need­ed for a Phase III that it hopes will gar­ner an FDA nod.

The Phase III tri­al of XEN1101 is slat­ed to be­gin in the sec­ond half of this year and will set the grounds, along with the Phase IIb da­ta, for a reg­u­la­to­ry fil­ing, the com­pa­ny said. To bankroll that work and oth­er stud­ies of the drug, the British Co­lum­bia-based biotech laid out plans Wednes­day night for a $250 mil­lion pub­lic of­fer­ing that is ex­pect­ed to close Mon­day.

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