Xenon Pharma Expects XEN801 Results In Q1 2017, Delayed One Quarter

After the close on Wednesday Xenon Pharmaceuticals XENE reported Q2 earnings. EPS in the second quarter was a loss of $0.42 versus estimates for a loss of $0.48.

President and CEO Dr. Simon Pimstone spoke about the on-going Phase 2 clinical trial of XEN801 which was expected to yield topline results in Q4 2016 but has been delayed, saying " We have now surpassed 50% enrollment in our XEN801 Phase 2 clinical trial in patients with moderate to severe acne, and based on updated projections, we anticipate a read out of top-line results in the first quarter of 2017."

Xenon is slated to present at Canaccord's 36th Annual Growth Conference at 3pm EDT on August 11.

Shares of Xenon Pharmaceuticals closed Wednesday's regular session down $0.03 or 0.41 percent to $7.36.