Ezogabine IR is a small molecule commercialized by Xenon Pharmaceuticals, with a leading Phase III program in Epileptic Encephalopathy. According to Globaldata, it is involved in 4 clinical trials, of which 1 was completed, and 3 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Ezogabine IR’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for Ezogabine IR is expected to reach an annual total of $32 mn by 2034 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

Ezogabine IR Overview

Ezogabine is under development for the treatment of KCNQ2 epileptic encephalopathy. It is formulated as a pediatric-specific, granule formulation packaged as single-dose sprinkle capsules administered orally as immediate release formulation. It acts by targeting KCNQ2.

Xenon Pharmaceuticals Overview

Xenon Pharmaceuticals (Xenon) is a clinical stage biopharmaceutical company that carries out the development of innovative therapeutics. The company offers a pipeline of neurology-focused therapies to address areas of unmet medical need and to improve the lives of patients suffering with neurological disorders. Its products portfolio includes XEN1101, to treat epilepsy and other neurological disorder; XEN496, to treat KCNQ2 developmental and epileptic encephalopathy; and NBI-921352, to treat rare pediatric epilepsy, focal-onset seizures in adults. Xenon also carries out the research and development programs, pre-clinical studies and clinical trials. The company collaborates with other pharmaceutical companies for the development of therapeutic drug candidates. It operates in Canada and the US. Xenon is headquartered in Burnaby, British Columbia, Canada.

The company reported revenues of (US Dollars) US$18.4 million for the fiscal year ended December 2021 (FY2021), a decrease of 42.7% over FY2020. The operating loss of the company was US$79 million in FY2021, compared to an operating loss of US$32.3 million in FY2020. The net loss of the company was US$78.9 million in FY2021, compared to a net loss of US$28.8 million in FY2020. The company reported revenues of US$0.1 million for the third quarter ended September 2022, a decrease of 98.6% over the previous quarter.

For a complete picture of Ezogabine IR’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.