Replies to post #225831 on Biotech Values

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XENE NBIX > Neurocrine Biosciences and Xenon Pharmaceuticals Announce Agreement to Develop First-in-Class Treatments for Epilepsy

http://www.globenewswire.com/news-release/2019/12/02/1954673/0/en/Neurocrine-Biosciences-and-Xenon-Pharmaceuticals-Announce-Agreement-to-Develop-First-in-Class-Treatments-for-Epilepsy.html

Xenon Pharmaceuticals and Neurocrine Biosciences (NBIX) announced a license and collaboration agreement to develop first-in-class treatments for epilepsy (11.83)

Xenon will receive $50 million, including a $30 million upfront payment in cash and a $20 million equity investment by Neurocrine Biosciences at a Xenon per share price of $14.196.

Xenon will receive up to $25 million upon the U.S. Food and Drug Administration (FDA) acceptance of an IND for XEN901, with 55% of the amount in the form of an equity investment in Xenon at a 15% premium to Xenon's 30-day trailing volume weighted average price at that time.

Xenon may also be entitled to receive up to approximately $1.7 billion in additional development, regulatory and commercial milestone payments related to XEN901 and other licensed Nav1.6 or Nav1.2/1.6 inhibitor products.

Neurocrine Biosciences anticipates filing an IND application with the FDA in the middle of 2020 in order to start a proposed clinical trial for XEN901 in SCN8A-DEE patients.

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XENE announces pricing of public offering of common shares




Xenon Pharmaceuticals Announces Pricing of $60.0 Million Public Offering of Common Shares
GlobeNewswire GlobeNewswire•January 22, 2020
BURNABY, British Columbia, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (XENE), a clinical stage biopharmaceutical company, today announced the pricing of its underwritten public offering of 3,750,000 common shares pursuant to its existing shelf registration statement at a public offering price of $16.00 per share. The gross proceeds to Xenon from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Xenon, are expected to be approximately $60.0 million. In addition, Xenon has granted to the underwriters of the offering an option for a period of 30 days to purchase up to an additional 562,500 common shares at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about January 27, 2020, subject to customary closing conditions.

Jefferies, Stifel and Guggenheim Securities are acting as joint book-running managers for the offering.

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