Xenon Pharmaceuticals (XENE) investor relations material

Introduction and purpose

• Submission of a New Drug Application (NDA) for azetukalner to the FDA for the treatment of focal seizures was announced on September 17, 2026.

• The announcement included updates on ongoing clinical programs in epilepsy and psychiatry.

Details of approval or decision

• NDA for azetukalner submitted to the FDA for focal seizures, based on positive data from two pivotal randomized, double-blind, placebo-controlled trials (X-TOLE and X-TOLE2).

• X-TOLE2 showed a 42.7% placebo-adjusted median percent change in seizure frequency, the highest reported in a pivotal focal seizure study.

• Ongoing Phase 3 studies (X-TOLE3 and X-ACKT) continue to enroll patients for focal seizures and primary generalized tonic-clonic seizures.

• NDA submission marks a significant milestone toward potential approval and launch.

Impact on industry and stakeholders

• Azetukalner offers a differentiated mechanism of action, once-daily dosing, and no dose adjustments for other antiseizure medications.

• Positive feedback from healthcare professionals and key opinion leaders on efficacy and differentiated profile.

• Anticipated to become a preferred add-on therapy for patients not achieving seizure control with initial treatment.

• The drug addresses a critical need for new therapies in focal epilepsy, where many patients remain uncontrolled despite existing treatments.

• Ongoing efforts to educate and engage the epilepsy community and prepare for commercial launch.