What is Xenon Pharmaceuticals's R&D?

Xenon Pharmaceuticals (XENE) reported R&D of $88.51M in Q1 2026.

How has Xenon Pharmaceuticals's R&D changed year-over-year?

Xenon Pharmaceuticals's R&D increased by 44.6% year-over-year, from $61.2M to $88.51M.

What is the long-term trend for Xenon Pharmaceuticals's R&D?

Over 4 years (2021 to 2025), Xenon Pharmaceuticals's R&D has grown at a 41.3% compound annual growth rate (CAGR), from $75.46M to $300.94M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Xenon Pharmaceuticals XENE R&D

R&D at other companies

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$3.51B+28.4%

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$196M+8.5%

Axsome TherapeuticsAXSM

$52.68M+17.6%

Praxis Precision Medicines, Inc.PRAX

$77.99M+28.3%

Neurocrine BiosciencesNBIX

$296.2M+12.5%

BridgeBio PharmaBBIO

$126.64M+13.6%

Other financials

Income statement

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Revenue--100%

Operating income-$112.3M-54.4%

Net income-$102.3M-57.3%

EPS (diluted)-$1.17-41.0%

Balance sheet

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Cash & equivalents$545.9M+368%

Total debt$7.5M-13.6%

Total equity$1.3B+90.0%

Total assets$1.4B+86.6%

Cash flow

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Operating cash flow-$88.9M-44.2%

CapEx$133.0K+209%

Free cash flow-$89.0M-44.3%

Valuation

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Market cap$5.11B+116%

Profitability

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Operating margin-4,974.3%—

Net margin-4,612.1%—

FCF margin-3,732.2%—

Returns & leverage

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Return on equity-37.5%+8.7pp

Debt / equity0×0.0×

Current ratio27.8×+10.1×

Where this comes from

Reported directly by Xenon Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Xenon Pharmaceuticals’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Xenon Pharmaceuticals's R&D?: Xenon Pharmaceuticals (XENE) reported R&D of $88.51M in Q1 2026.
How has Xenon Pharmaceuticals's R&D changed year-over-year?: Xenon Pharmaceuticals's R&D increased by 44.6% year-over-year, from $61.2M to $88.51M.
What is the long-term trend for Xenon Pharmaceuticals's R&D?: Over 4 years (2021 to 2025), Xenon Pharmaceuticals's R&D has grown at a 41.3% compound annual growth rate (CAGR), from $75.46M to $300.94M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.