Xenon Pharmaceuticals CFO sells $770,911 worth of stock via Investing.com
In a recent transaction reported to the Securities and Exchange Commission, Sherry Aulin, Chief Financial Officer of Xenon Pharmaceuticals Inc. (NASDAQ:), sold most of his holdings in the company. According to InvestingPro data, Xenon, which is currently valued at $2.97 billion, has shown strong financial health with an impressive current ratio of 22.21, indicating strong liquidity. The transaction occurred on December 18, 2024, involving the sale of 18,709 common shares at prices ranging from $41.19 to $41.23, amounting to $770,911.
The filing also explained that Aulin exercised stock options to acquire 25,334 common shares at prices ranging from $9.44 to $11.58, for a total acquisition value of $273,392. Additionally, shares were disposed of with tax obligations at a price of $41.28, resulting in a total of $273,480 for the transaction.
This transaction reflects Aulin’s strategic financial decisions regarding his equity in Xenon Pharmaceuticals, which specializes in pharmaceutical preparations. The company’s shares are traded on NASDAQ under the ticker XENE. While the company is not currently profitable, InvestingPro’s analysis reveals 7 other key insights about XENE’s financial condition and growth prospects, which are available in Pro’s comprehensive research report.
In other recent news, Xenon Pharmaceuticals has made major advances in the biopharmaceutical industry, attracting the attention of several analyst firms. HC Wainwright reiterated their buy rating on shares of Xenon, maintaining a target price of $53. This estimate is primarily influenced by the promising potential of Xenon’s new drug, azetukalner, and the company’s plans to file multiple Investigational New Drug applications by 2025.
RBC Capital also echoed the positive outlook, maintaining an Outperform rating and raising the price target to $56, reflecting positive expectations for Xenon’s upcoming clinical data release. Xenon’s third quarter 2024 financial results highlighted azetukalner’s efficacy data in epilepsy, including significant improvement in seizure frequency and patient quality of life. The company ended the quarter with a cash balance of $803.3 million, indicating sufficient funding through 2027.
The company’s strategic focus on developing new treatments for epilepsy and major depressive disorder (MDD) is reflected in its latest initiatives. Xenon plans to start the Phase 3 MDD program before the end of 2024 and expects the results of the Phase 3 program in the last quarter of 2025. The company is also advancing its Nav1.7 sodium channel program, with an IND filing expected in 2025.
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