Xenon Pharmaceuticals Inc. (NASDAQ:XENE) is one of the 10 Stocks Making Huge Moves this Week.

Xenon Pharmaceuticals climbed by 31.7 percent week-on-week, as investor sentiment was bolstered by positive clinical trial for its epilepsy and depression treatment candidate, alongside plans to submit a new drug application (NDA) in the second half of the year.

In a statement earlier in the week, Xenon Pharmaceuticals Inc. (NASDAQ:XENE) said that it would submit an NDA for its treatment candidate, Azetukalner, with the Food and Drug Administration (FDA) in the third quarter.

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This followed the completion of the third phase of clinical trial, which saw a 53 percent seizure reduction in patients who took both 25mg and 15mg, versus the placebo, over a 12-week period.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) added that Azetukalner also demonstrated a safety and tolerability profile consistent with prior studies.

“We are very happy to announce these data for azetukalner, which exceeded expectations and, to our knowledge, show the highest placebo-adjusted efficacy ever observed in a pivotal epilepsy study,” Xenon Pharmaceuticals Inc. (NASDAQ:XENE) President and CEO Ian Mortimer said.

Following the results, the company successfully raised $747.5 million in fresh funds from a public offering of 12.2 million common shares.

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