Massive Sell-Offs Just Hit These 10 Stocks Today

3. Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Xenon Pharmaceuticals decreased by 17.43 percent on Tuesday to finish at $29.60 apiece following the delayed results of its Phase 3 epilepsy study and a dismal earnings performance in the first quarter of the year.

In a statement, Xenon Pharmaceuticals Inc. (NASDAQ:XENE) said that the results of the study are now expected to be released in early 2026.

“While this timing represents a modest shift from our prior guidance, we are encouraged that we are nearing the end of this important study, which represents a significant milestone for Xenon, getting us one step closer to a potential first commercial product launch,” said President and CEO Ian Mortimer.

In the first three months of the year, Xenon Pharmaceuticals Inc. (NASDAQ:XENE) said net loss widened by 35.7 percent to $65 million from $47.9 million in the same period last year, despite incurring $7.5 million in revenues during the period.

Research and development expenses grew by 38 percent to $61.2 million from $44.3 million year-on-year.