Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Partnerships Acquired from 1st Order (asset purchase Apr 2017, amended Aug 2020). Neurocrine Biosciences: license and collaboration agreement (Dec 2019) to develop treatments for epilepsy, incl. multi-year research collaboration.
Status note Late-stage development for FOS, PGTCS, MDD and BPD. X-ACKT (PGTCS), X-NOVA2/X-NOVA3 (MDD) and X-CEED (BPD I/II) Phase 3 studies ongoing.
XEN1701
Phase 1 · Active
Target Nav1.7
Indications
Acute pain(Phase 1)
Status note Phase 1 SAD/MAD study in healthy adults ongoing; completion expected H2 2026 to support a Phase 2 proof-of-concept study in acute pain.
XEN1120
Phase 1 · Active
Target Kv7
Indications
Acute pain(Phase 1)
Status note Phase 1 SAD/MAD study in healthy adults ongoing; completion expected H2 2026 to support a Phase 2 proof-of-concept study in acute pain.
XEN1720
Phase 1 · Active
Target Nav1.7
Indications
Acute pain(Phase 1)
Status note CTA approved; Phase 1 SAD/MAD study in healthy adults now underway.
Nav1.1 program
Preclinical · ActiveModality: oral small molecule
Target Nav1.1
Indications
Dravet syndrome(Preclinical)
Status note IND-enabling studies ongoing.
NBI-921355
Phase 1 · ActiveModality: selective inhibitor of voltage-gated sodium channels
Target Nav1.2/Nav1.6
Partnerships Neurocrine Biosciences: Phase 1b conducted in collaboration
Indications
Certain types of epilepsy(Phase 1)
Status note Partnered early-stage program under the Neurocrine collaboration.
Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (9 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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