Overview

• Xenon Pharmaceuticals' XEN1101 shows promising results in Phase 2 X-NOVA trial for major depressive disorder (MDD), despite not meeting the primary endpoint.
• XEN1101 demonstrated a clinically meaningful, but not statistically significant, reduction in depressive symptoms compared to placebo.
• Statistical significance was achieved on several secondary endpoints, including the Hamilton Depression Rating Scale (HAM-D17), the Snaith-Hamilton Pleasure Scale (SHAPS), and early onset of efficacy in MADRS at week 1.
• Analysts remain optimistic about the potential of XEN1101 in addressing depression and other psychiatric conditions, and anticipate that XEN1101 could emerge as a premier adjunctive therapy for patients with focal onset seizures.
• XEN1101 was well tolerated, with similar rates of adverse events reported across all treatment arms.