Xenon Pharmaceuticals Inc. shares were up 9% to $33.10 Tuesday after the biopharmaceutical company said it plans to continue its clinical program evaluating XEN1101 for the treatment of patients with focal onset seizures following the completion of an end-of-Phase 2 meeting with the Food and Drug Administration.
The outcome of the meeting supports the advancement of XEN1101 into Phase 3 clinical development, which Xenon plans to initiate in the second half of 2022, the company said.
Xenon said it plans to begin the Phase 3 program to support a new drug application for XEN1101.
The company plans to submit the application when the first XEN1101 Phase 3 study is completed, if the clinical trial is successful.
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