Xenon制药 2026年季度报告

FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period ended June 30, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period from __________ to __________Commission File Number: 001-36687 XENON PHARMACEUTICALS INC. (Exact name of Registrant as Specified in its Charter) Canada98-0661854(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)3650 Gilmore WayBurnaby, British Columbia, CanadaV5G 4W8(Address of principal executive offices)(Zip Code) Registrant’s telephone number, including area code: (604) 484-3300 Securities registered pursuant to Section 12(b) of the Act: Title of each classTradingSymbol(s)Name of each exchange on which registeredCommon Shares, without par valueXENEThe Nasdaq Stock Market LLC(The Nasdaq Global Market) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerginggrowth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ Accelerated filer☐Smaller reporting company☐Emerging growth company☐  If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒As of August 3, 2026, the registrant had 96,840,432 common shares, without par value, outstanding. XENON PHARMACEUTICALS INC.QUARTERLY REPORT ON FORM 10-QFOR THE QUARTER ENDED JUNE 30, 2026 TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1. Financial Statements3Condensed Consolidated Balance Sheets3Condensed Consolidated Statements of Operations and Comprehensive Loss4Condensed Consolidated Statements of Shareholders’ Equity5Condensed Consolidated Statements of Cash Flows6Notes to Condensed Consolidated Financial Statements7Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations16Item 3. Quantitative and Qualitative Disclosures About Market Risk24Item 4. Controls and Procedures24PART II. OTHER INFORMATION25Item 1. Legal Proceedings25Item 1A. Risk Factors25Item 5. Other Information65Item 6. Exhibits66SIGNATURES67 In this Quarterly Report on Form 10-Q, “we,” “our,” “us,” “Xenon,” and “the Company” refer to Xenon Pharmaceuticals Inc.and its subsidiary. “Xenon” and the Xenon logo are the property of Xenon Pharmaceuticals Inc. and are registered in the UnitedStates and used or registered in various other jurisdictions. This report contains references to our trademarks and to trademarksbelonging to other entities. Solely for convenience, trademarks and trade names referred to in this report may appear without the ®or ™ symbols, but such references are not intended to indicate, in any way, that their respective owners will not assert, to the fullestextent under applicable law, their rights thereto. We do not intend our use or display of other companies’ trade names or trademarksto imply a relationship with, or endorsement or sponsorship of us by, any other companies. Risk Factors Summary Our business is subject to numerous risks and uncertainties, including those highlighted in the section of this report captioned“Risk Factors.” The following is a summary of the principal risks we face: •We have incurred significant losses since our inception and anticipate that we will continue to incur significant losses forthe foreseeable future.•We will need to raise additional funding, which may not be available on acceptable terms, if at all. Failure to obtaincapital when needed may force us to delay, limit or terminate our product discovery and development programs orcommercialization efforts or other operations.•Our business substantially depends upon the successful development of azetukalner. If we are unable to obtain regulatoryapproval for, and successfully commercialize,