Xenon Pharmaceuticals Appoints Tucker Kelly as CFO

By Greg Peters • Friday, October 17 15:42 • Permanent Link

Xenon Pharmaceuticals Inc. (NASDAQ: XENE) has just announced the appointment of Tucker Kelly as its new Chief Financial Officer (CFO). This move comes as the company anticipates the commercialization of its lead candidate, azetukalner, which is currently being studied in three phase 3 programs for the treatment of epilepsy, major depressive disorder (MDD), and bipolar depression (BPD).

Mr. Kelly is joining Xenon with more than 25 years of experience in driving corporate and financial strategy for U.S. and international life sciences companies. Most recently, he served as the Executive Vice President, CFO, and Treasurer at Deciphera Pharmaceuticals, Inc., overseeing the company's growth from discovery to direct commercialization in the U.S. and abroad, culminating in its $2.4 billion acquisition by Ono Pharmaceuticals, Co., Ltd. in 2024.

In connection with Mr. Kelly's appointment, the compensation committee of Xenon's board of directors granted him an option to purchase 225,000 common shares at an exercise price of $41.90 per common share, which is equal to the closing price of the company’s common shares on October 15, 2025. Additionally, Mr. Kelly was granted 30,000 restricted share units (RSUs), which will vest as to 25% of the underlying shares on each of the first four anniversaries of his start date.

Xenon's lead molecule, azetukalner, is a novel, potent, selective kv7 potassium channel opener in phase 3 clinical trials for the treatment of epilepsy, MDD, and BPD. The company 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.

This strategic appointment and the accompanying inducement grants come at a critical juncture for Xenon as it prepares to report topline results for the x-tole2 study and plans for the anticipated launch of azetukalner in epilepsy and beyond. Following these announcements, the company's shares moved 0.64%, and are now trading at a price of $42.17. For more information, read the company's full 8-K submission here.

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