Xenon Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Xenon Pharmaceuticals (Nasdaq: XENE) announced inducement equity grants to seven new non-officer employees totaling 77,750 share options with an exercise price of $39.20 per share, equal to the closing price on the grant date. Grants were approved by the Compensation Committee with an effective date of October 2, 2025 and are intended as inducements under Nasdaq Listing Rule 5635(c)(4). Options vest over four years (25% at one year, then monthly 1/36th) and have a 10-year term, subject to the company’s 2025 Inducement Equity Incentive Plan and standard option agreement terms.

Business context: Xenon is a neuroscience-focused biopharmaceutical company advancing azetukalner in Phase 3 for epilepsy, MDD, and BPD and early-stage Kv7 and Nav1.7 programs in Phase 1 for pain.

VANCOUVER, British Columbia and BOSTON, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need, today announced equity inducement grants to seven new non-officer employees consisting of an aggregate of 77,750 share options. All of the foregoing share options were approved by the Compensation Committee of the Company’s Board of Directors with an effective date of October 2, 2025 and were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The share options have an exercise price of $39.20 per common share, which is equal to the closing price per share of Xenon’s common shares on the grant date of October 2, 2025. The share option grants vest over four years, with 25% vesting on the one-year anniversary of the respective employee’s start date and 1/36th of the remaining options vesting monthly thereafter on the last day of each month, subject to such option recipient’s continued service relationship with the Company. Each option has a 10-year term and is subject to the terms and conditions of the share option agreement and the terms of the Company’s 2025 Inducement Equity Incentive Plan.

About Xenon Pharmaceuticals Inc.

Xenon Pharmaceuticals (Nasdaq: XENE) is a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need. Xenon’s lead molecule, azetukalner, is a novel, potent, selective Kv7 potassium channel opener in Phase 3 clinical trials for the treatment of epilepsy, major depressive disorder (MDD) and bipolar depression (BPD). Xenon is also advancing an early-stage portfolio of multiple promising potassium and sodium channel modulators, including Kv7 and Nav1.7 programs in Phase 1 development for the potential treatment of pain. Xenon has offices in Vancouver, British Columbia, and Boston, Massachusetts. For more information, visit www.xenon-pharma.com and follow us on LinkedIn and X. “Xenon” and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in various jurisdictions. All other trademarks belong to their respective owner.

Contact:

Colleen Alabiso
Senior Vice President, Corporate Affairs
(617) 671-9238
Media: media@xenon-pharma.com
Investors: investors@xenon-pharma.com

FAQ

What did Xenon (XENE) grant on October 2, 2025?

Xenon granted an aggregate of 77,750 share options as inducements to seven new non-officer employees, effective October 2, 2025.

What is the exercise price and term of the XENE inducement options?

Each option has an exercise price of $39.20 per common share and a 10-year term.

How do the XENE inducement options vest?

Options vest over four years: 25% vests at the one-year anniversary, then 1/36th of the remainder vests monthly on the last day of each month, subject to continued service.

Why did Xenon issue these option grants under Nasdaq Rule 5635(c)(4)?

The grants were issued as inducements material to new hires and approved under Nasdaq Listing Rule 5635(c)(4) to permit inducement equity awards for new employees.

Do the inducement grants signal any change to Xenon’s clinical programs?

The announcement describes only equity grants and does not disclose changes to Xenon’s Phase 3 azetukalner program or other clinical programs.

Where can investors find more information about Xenon (XENE)?

Investors can visit www.xenon-pharma.com or contact investors@xenon-pharma.com for investor relations information.