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TheStreet Open House

XenoPort Reports Third Quarter Financial Results

XenoPort, Inc. (Nasdaq: XNPT) announced today financial results for the third quarter and nine months ended September 30, 2013. Revenues for the third quarter were $2.5 million, compared to $0.4 million for the same period in 2012. Net loss for the third quarter was $18.8 million, compared to a net loss of $16.8 million for the same period in 2012. At September 30, 2013, XenoPort had cash, cash equivalents and short-term investments of $74.3 million.

XenoPort Third Quarter Events

Since the start of the third quarter:

  • XenoPort reported favorable preliminary results from two Phase 1 clinical trials and three 13-week toxicology studies of XP23829, a novel fumaric acid ester compound that is a prodrug of monomethyl fumarate (MMF). The first healthy-subject Phase 1 study assessed the pharmacokinetics, safety and tolerability of multiple doses of two different oral formulations of XP23829, as well as the approved dose of TECFIDERA ® (dimethyl fumarate; DMF). The second Phase 1 study examined the metabolism and distribution of radiolabeled XP23829 in healthy subjects. The toxicology studies, each of which included a DMF control arm, were conducted in three different animal species. XP23829 is being developed for the potential treatment of relapsing forms of multiple sclerosis and/or psoriasis.
  • XenoPort announced the inclusion of gabapentin enacarbil in treatment guidelines published by the International Restless Legs Syndrome Study Group and the Willis-Ekbom Disease (WED) Foundation.

Additional Results from Previous Phase 1 Trial of XP23829

XenoPort also announced today encouraging pharmacodynamic data from its previous Phase 1, randomized, double-blind, placebo-controlled, multiple ascending dose study of two formulations of XP23829 in healthy adult subjects dosed for up to 12 days. Compared to pre-dosing baseline, XP23829 dosed once or twice a day selectively reduced blood lymphocytes and increased blood eosinophils when assessed after 12 days of dosing. Individual subject end-of-treatment lymphocyte and eosinophil counts were within normal limits with few exceptions. There were no subjects with post-treatment lymphocyte counts below 500 per microliter. Lymphocyte counts returned to near baseline levels when assessed eight to ten days after the last dose. These effects were not observed in placebo-dosed subjects, and there was no effect of XP23829 on other monitored blood cell populations.

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