Xenon Pharmaceuticals Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
XENE$41.39+2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
(Expressed in thousands of U.S. dollars)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities: | |||
| Net loss | $(345,910) | $(234,330) | $(182,393) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Interest receivable and accretion of discounts on marketable securities | 7,369 | 816 | (5,785) |
| Depreciation of property, plant and equipment | 2,543 | 2,560 | 2,061 |
| Non-cash operating lease expense | 1,313 | 1,254 | 1,213 |
| Deferred income tax recovery | (3,198) | (8,864) | (292) |
| Stock-based compensation | 53,707 | 50,717 | 32,372 |
| Realized loss on marketable securities | 625 | — | — |
| Unrealized foreign exchange (gain) loss | 73 | 745 | (640) |
| Unrealized fair value gain on trading securities | — | — | (3,550) |
| Changes in operating assets and liabilities: | |||
| Other receivables | 104 | (614) | 130 |
| Prepaid expenses and other assets | (3,157) | (984) | 1,574 |
| Accounts payable and accrued liabilities | 5,511 | 8,531 | 3,931 |
| Operating lease liability | (1,297) | (1,220) | 267 |
| Other liabilities | 3,199 | — | — |
| Net cash used in operating activities | (279,118) | (181,389) | (151,112) |
| Investing activities: | |||
| Purchases of property, plant and equipment | (799) | (3,075) | (5,617) |
| Purchase of marketable securities | (355,657) | (532,268) | (793,907) |
| Proceeds from marketable securities | 574,454 | 700,343 | 688,139 |
| Net cash provided by (used in) investing activities | 217,998 | 165,000 | (111,385) |
| Financing activities: | |||
| Proceeds from offerings, net | 112,151 | 12,083 | 353,487 |
| Proceeds from exercise of stock options | 4,962 | 47 | 35 |
| Net cash provided by financing activities | 117,113 | 12,130 | 353,522 |
| Effect of exchange rate changes on cash and cash equivalents | 458 | (1,672) | 376 |
| Increase (decrease) in cash and cash equivalents | 56,451 | (5,931) | 91,401 |
| Cash and cash equivalents, beginning of year | 142,712 | 148,643 | 57,242 |
| Cash and cash equivalents, end of year | $199,163 | $142,712 | $148,643 |
| Supplemental cash flow disclosure: | |||
| Cash paid for operating lease | $1,714 | $1,672 | $1,624 |
| Cash received for lease incentives | $— | $— | $1,489 |
| Supplemental disclosure of non-cash transactions: | |||
| Fair value of stock options and warrants exercised on a cashless basis | $20,995 | $8,305 | $5,250 |
| Fair value of warrant and pre-funded warrants exercised | $291 | $— | $35,913 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.