BURNABY, British Columbia, July 12, 2018 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq: XENE ), a clinical stage biopharmaceutical company, announced today that it has entered into an at-the-market equity offering sales agreement with Jefferies and Stifel, effective as of July 11, 2018, under which Xenon may sell its common shares, from time to time, for up to $50.0 million in aggregate sales proceeds in "at the market" transactions.

In connection with Xenon’s entry into the at-the-market equity offering sales agreement, its prior at-the-market equity offering sales agreement that it entered into with Stifel on May 8, 2018 was mutually terminated by Xenon and Stifel effective as of July 11, 2018.

A shelf registration statement on Form S-3 relating to the common shares offered in the at-the-market equity offering described above was filed with the Securities and Exchange Commission (SEC) on December 7, 2015 and declared effective by the SEC on January 5, 2016.  The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.  A prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and is available on the SEC's website at www.sec.gov.

Copies of the prospectus supplement and accompanying prospectus relating to these securities may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com, or by phone at (877) 821-7388; or from Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at 415-364-2720 or by email at syndprospectus@stifel.com .

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities being offered, nor may there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or other jurisdiction.

About Xenon Pharmaceuticals Inc.

Xenon is a clinical stage biopharmaceutical company focused on developing innovative therapeutics to improve the lives of patients with neurological disorders.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. These forward-looking statements are not based on historical fact, and include statements regarding our expectations regarding our offering from time to time of our common shares pursuant to the at-the-market equity offering sales agreement. These forward-looking statements are based on current assumptions that involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties, many of which are beyond our control, include, but are not limited to: promising results in preclinical and early clinical trials may not be replicated in subsequent clinical trials; clinical trials may not demonstrate safety and efficacy of any of our or our collaborators' product candidates; any of our or our collaborators' product candidates may fail in development, may not receive required regulatory approvals, or may be delayed to a point where they are not commercially viable; we may not achieve additional milestones in our proprietary or partnered programs; the impact of competition; adverse conditions in the general domestic and global economic markets; as well as the other risks identified in our filings with the Securities and Exchange Commission and the securities commissions in British Columbia, Alberta and Ontario. These forward-looking statements speak only as of the date hereof and we assume no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.

“Xenon” and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in various jurisdictions. All other trademarks belong to their respective owner.

Investor/Media Contact : Jodi Regts VP, Corporate Affairs & Investor Relations Xenon Pharmaceuticals Inc. Phone: 604.484.3353 Email: investors@xenon-pharma.com