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XenoPort And GlaxoSmithKline Mutually Agree To Terminate Their Collaboration On Horizant

Stocks in this article: XNPT

Conference Call

XenoPort will host a conference call at 8:30 a.m. Eastern Time today to discuss matters related to the termination and transition agreement between GSK and XenoPort. To access the conference call via the Internet, go to www.XenoPort.com. To access the live conference call via phone, dial 1-888-275-3514. International callers may access the live call by dialing 706-679-1417. The reference number to enter the call is 69518395.

The replay of the conference call may be accessed after 8:30 a.m. Eastern Time today via the Internet, at www.XenoPort.com, or via phone at 1-800-642-1687 for domestic callers, or 706-645-9291 for international callers. The reference number to enter the replay of the call is 69518395. Dial-in access to the replay of the call will be available for approximately one week, and the Internet replay of the call will be available for approximately one month following the live call.

About XenoPort

XenoPort is a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates for the potential treatment of neurological disorders. GlaxoSmithKline holds commercialization rights for Horizant in the United States during a transition period, following which XenoPort will be responsible for Horizant’s further development, manufacturing and commercialization. Regnite® (gabapentin enacarbil) Extended-Release Tablets is approved for the treatment of moderate-to-severe primary restless legs syndrome in Japan. Astellas Pharma Inc. holds all development and commercialization rights for Regnite in Japan and five other Asian countries. XenoPort holds all other world-wide rights to gabapentin enacarbil. XenoPort’s pipeline of product candidates includes potential treatments for patients with spasticity, Parkinson’s disease and relapsing-remitting multiple sclerosis.

To learn more about XenoPort, please visit the Web site at www.XenoPort.com.

Forward-Looking Statements

This press release contains "forward-looking" statements, including, without limitation, all statements related to the transition of all Horizant product rights to XenoPort and the timing thereof; transition activities, including GSK’s conduct and funding of clinical trials; XenoPort’s election of its option to require GSK to purchase additional shares of its common stock; the terms of a future supply agreement, if any; and the continued availability of Horizant to patients. Words such as “will,” “would” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon XenoPort’s current expectations. Forward-looking statements involve risks and uncertainties. XenoPort’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to XenoPort’s dependence on GSK for further development, manufacturing and commercialization of Horizant during the transition period and as a potential source of supply thereafter; GSK’s ability to fund and conduct clinical trials as agreed between the parties; XenoPort’s ability to satisfy the conditions precedent to the exercise of its option to require GSK to purchase additional shares of its common stock; XenoPort’s ability to establish sales, marketing and distribution capabilities to market Horizant following the transition period, or to enter into arrangements with third parties to do so, including the risk that XenoPort’s failure to establish or contract for these capabilities could interrupt, delay or otherwise adversely affect the commercialization of Horizant; and XenoPort’s cash position and need for additional capital. These and other risk factors are discussed under the heading "Risk Factors" in XenoPort’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2012, filed with the Securities and Exchange Commission on October 25, 2012. XenoPort expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

XENOPORT, Regnite and Horizant are registered trademarks of XenoPort, Inc.

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