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Barchart
Wajeeh Khan

XENE Stock Plummets as Xenon Pharmaceuticals Pauses Drug Trial

XENE Xenon Pharmaceuticals Xenon

Xenon Pharmaceuticals (XENE) shares crashed on Friday after the biopharmaceutical firm said it has paused new patient enrollment in its clinical trials evaluating azetukalner. As investors responded to the setback involving XENE’s lead drug candidate for major depressive disorder, its relative strength index (RSI) slipped into the early teens, indicating extremely oversold conditions.

Following today’s decline, Xenon Pharmaceuticals stock is trading nearly 40% below its year-to-date high.

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