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H XENON Xenon Pharmaceuticals Reports First Quarter 2021 Financial Results and Provides Corporate Update May 11 , 2021 Topline Data from XEN1101 Phase 2b " X - TOLE " Clinical Trial Anticipated by End of Third Quarter of 2021 Conference Call at 4:30 pm ET Today -- Xenon Pharmaceuticals Inc. BURNABY , British Columbia , May 11 , 2021 ( GLOBE NEWSWIRE ) ( Nasdaq : XENE ) , a neurology - focused biopharmaceutical company , today reported financial results for the first quarter ended March 31 , 2021 and provided a corporate update . Dr. Simon Pimstone , Xenon's Chief Executive Officer , said , " We continue to make excellent progress across both our proprietary and partnered programs . In particular , I am pleased to report that we have completed patient screening in our Phase 2b ' X - TOLE ' clinical trial evaluating XEN1101 as an adjunctive treatment of focal epilepsy . With the final patients currently in baseline , we anticipate randomization to be completed in June and the release of topline data by the end of the third quarter . Additionally , we continue to initiate new sites to support ongoing patient enrollment in our Phase 3 " EPIK " study , which is evaluating XEN496 as a treatment of KCNQ2 developmental and epileptic encephalopathy . - to Mr. Ian Mortimer , Xenon's President and Chief Financial Officer added , " This quarter we successfully completed a public offering - resulting in approximately $ 115 million in gross proceeds to Xenon further fortify our balance sheet . We continue to prudently manage our resources and believe we have the team and capital in place to execute on our business and clinical development goals for this year . The additional capital will enable us to continue to expand our pipeline including a company sponsored clinical study of XEN1101 in major depressive disorder . " Highlights and Anticipated Milestones Proprietary Programs XEN1101 is a differentiated Kv7 potassium channel modulator being developed for the treatment of epilepsy and potentially other neurological disorders . Designed as a randomized , double - blind , placebo - controlled , multicenter study , Xenon's " X - TOLE " study is an ongoing Phase 2b clinical trial to evaluate the clinical efficacy , safety , and tolerability of XEN1101 administered as adjunctive treatment in approximately 300 adult patients with focal epilepsy . The primary endpoint is the median percent change in monthly focal seizure frequency from baseline compared to treatment