Xenon Pharmaceuticals (XENE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Xenon Pharmaceuticals

NasdaqGM•Healthcare•Biotechnology

$56.76+0.48(0.01%)Pre-market

Market Cap

$5.71B

P/B

4.6x

Xenon Pharmaceuticals Inc., a neuroscience-focused biopharmaceutical company, engages in the discovery, development, and delivery of therapeutics to treat patients with neurological and psychiatric disorders. Its product candidates include Azetukalner, a novel, potent Kv7 potassium channel opener which is in Phase 3 clinical development for the treatment of epilepsy, including focal onset seizures, and primary generalized tonic-clonic seizures, as well as neuropsychiatric disorders, such as major depressive disorder and bipolar depression. In addition, the company's Phase 1 Single Ascending Dose/Multiple Ascending Dose products include XEN1701 targeting the sodium channel and XEN1120 targeting the Kv7 potassium channel for the treatment of pain. The company has a license and collaboration agreement with Neurocrine Biosciences, Inc. for the development of NBI-921355, a Nav1.2/1.6 sodium channel inhibitor that is in Phase 1 clinical trials for the treatment of certain types of epilepsy. Xenon Pharmaceuticals Inc. was incorporated in 1996 and is headquartered in Burnaby, Canada.

How this company scores

WeakMetricSide Score: 27/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Profitability (2/25).

Profitability2/25

Growth4/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality6/25

Strengths

Interest easily coveredNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 471.4x5y range 82.0x – 19174.6x

Currently above its 9-quarter median.

P/B · 4.6x5y range 2.2x – 6.1x

Currently near its 17-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $5.71B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $0
Q. Revenue: $0
TTM EBITDA: $-437.92M
TTM Op. Income: $-441.59M
Q. Op. Income: $-123.16M
TTM Net Income: $-409.19M
Q. Net Income: $-110.74M
EPS: $-1.11
Shares Out.: $99.61M

$0 in TTM revenue declined 100.0% YoY, reaching $0 last quarter. TTM EBITDA of $-437.92M and TTM operating income of $-441.59M show growth is flowing through to the bottom line. However, net income is negative at $409.19M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is down 100% — a steady trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -12315500000.0%
Net Margin: -11073600000.0%

Op. margin of -12315500000.0% is down 2892600000.0% YoY — costs are rising relative to revenue. Net margin at -11073600000.0% Across the last 8 quarters, operating margin has fallen for 5 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: 4.6x

P/S of 0.0x and P/B of 4.6x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.30B
Cash: $119.53M
Long-Term Debt: N/A
Book Value: $1.24B
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-95.39M
TTM Free Cash Flow: $-338.53M
FCF Margin: N/A
FCF / Net Income: 0.8

TTM FCF of $-338.53M on $-95.39M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 7 consecutive quarters — a weakening trend.