This Fund Has a $200 Million Bet on a Biotech Stock Up 30% in Days After Phase 3 Breakthrough

16 hours ago 3

Jonathan Ponciano, The Motley Fool

Fri, March 13, 2026 astatine 9:11 AM CDT 4 min read

On February 17, 2026, Driehaus Capital Management disclosed a bargain of Xenon Pharmaceuticals (NASDAQ:XENE), adding 369,577 shares successful an estimated $15.52 cardinal commercialized based connected quarterly mean pricing.

According to an SEC filing dated February 17, 2026, Driehaus Capital Management accrued its presumption successful Xenon Pharmaceuticals by 369,577 shares during the calendar 4th fourth ended December 31, 2025. The estimated worth of the commercialized was $15.52 million, calculated utilizing the quarter’s mean stock price. The full worth of the presumption astatine quarter-end roseate by $36.03 million, reflecting some the accrued involvement and the interaction of marketplace terms changes.

The fund’s acquisition brings its Xenon Pharmaceuticals involvement to 1.4% of 13F reportable assets nether management.
Top holdings aft the filing:
- NYSE:TSM: $657.49 cardinal (4.5% of AUM)
- NASDAQ:CRNX: $297.35 cardinal (2.0% of AUM)
- NASDAQ: PRAX: $275.01 cardinal (1.9% of AUM)
- NASDAQ:GH: $218.91 cardinal (1.5% of AUM)
- NASDAQ:XENE: $203.42 cardinal (1.4% of AUM)
As of Friday, XENE shares were priced astatine $58.33, up 66% implicit the past twelvemonth and good outperforming the S&P 500’s astir 19% summation successful the aforesaid period.

Metric

Value

Price (as of Friday)	$58.33
Market Capitalization	$4.9 billion
Revenue (TTM)	$7.50 million
Net Income (TTM)	($345.91 million)

Xenon Pharmaceuticals develops clinical-stage therapeutics targeting neurological disorders, with a pipeline that includes XEN496, XEN1101, NBI-921352, and XEN007.
The steadfast operates a biopharmaceutical concern exemplary focused connected probe and development, advancing cause candidates done objective trials, and leveraging strategical collaborations for co-development and commercialization.
It serves patients with neurological and epileptic disorders, processing treatments for these conditions chiefly successful Canada.

Xenon Pharmaceuticals is simply a clinical-stage biotechnology institution specializing successful the improvement of caller therapeutics for neurological conditions. The company’s strategy centers connected advancing a robust pipeline of potassium and sodium transmission modulators done late-stage objective trials, supported by collaborations with starring manufacture partners. Xenon’s absorption connected differentiated, first-in-class treatments positions it to code important unmet aesculapian needs successful epilepsy and related disorders.

Xenon’s pb cause candidate, azetukalner, precocious announced beardown Phase 3 information successful focal onset seizures, 1 of the astir communal forms of epilepsy. Patients receiving the higher dose saw seizures autumn by a median 53.2% compared with astir 10.4% for placebo, portion much than fractional of treated patients achieved astatine slightest a 50% simplification successful seizure frequency, the steadfast announced earlier this week.

Those results determination the programme person to commercialization, with the institution readying to record for U.S. regulatory support aboriginal this year. The information besides arrived alongside a ample $747.5 cardinal nationalist offering that importantly strengthens Xenon’s equilibrium expanse and volition assistance money commercialization efforts and pipeline expansion.

The market’s effect has been swift. Shares person surged much than 30% successful the days pursuing the proceedings results and financing, pushing the banal up astir 66% implicit the past year.

Meanwhile, wrong the broader portfolio, the presumption fits alongside different neuroscience-focused bets specified arsenic Crinetics Pharmaceuticals and Praxis Precision Medicines. With this caller momentum, Xenon mightiness beryllium among the standouts.

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