Xenon Pharma up 21% premarket on positive XEN1101 data

Thinly traded nano cap Xenon Pharmaceuticals (NASDAQ:) is up 21% premarket on light volume in response to its of positive preliminary results from its ongoing Phase 1 study of epilepsy candidate XEN1101. The data were presented at the Eilat Conference on New Antiepileptic Drug and Devices in Madrid, Spain.

XEN1101‘s pharmacodynamic characteristics appear greater than ezogabine at 1/20th the dose which supports once-daily dosing and an improved safety profile.

The company says , its lead drug, is a next-generation Kv7 potassium channel opener, acquired from 1st Order Pharmaceuticals in April 2017.

Ezogabine, a earlier-generation Kv7 channel opener, was sold by GlaxoSmithKline (NYSE:) under the brand name Potiga. It the drug about a year ago due to low patient demand due, in large part, to the risks, including vision loss.

Management will host a conference call this morning at 8:00 am ET to discuss the results.

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