Why Xenon Pharmaceuticals Stock Is Screaming Higher Today
Xenon Pharmaceuticals (NASDAQ: XENE), a clinical-stage biotech, is having a superb showing in pre-market trading Monday morning. The biotech's shares, in fact, jumped by as much as 98%, on extremely heavy volume, before 8 a.m. today.
What's driving this enormous rally in the tiny biotech's stock today? Ahead of the opening bell, Xenon announced positive mid-stage trial results for XEN1101 as a potential treatment for adult patients with focal epilepsy.
XEN1101 is anticipated to be an integral part of this next generation of anti-epileptic drugs currently making their way to market. What's important to understand is that this next batch of epilepsy drugs is expected to grow the overall market by high single-digits per year due to their improved efficacy and fewer side effects.
Source Fool.com
