SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 10.3% Passive Stake in XENON PHARMACEUTICALS INC

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have filed an amended Schedule 13G, reporting a passive beneficial ownership of 10.3% in XENON PHARMACEUTICALS INC as of February 28, 2025.

Summary

• FMR LLC, a parent holding company, and Abigail P. Johnson, its Chairman and CEO, jointly reported beneficial ownership of 7,851,098 shares of XENON PHARMACEUTICALS INC common stock.
• This aggregate amount represents 10.3% of the total outstanding common stock of XENON PHARMACEUTICALS INC.
• The filing is an Amendment No. 5 to Schedule 13G, indicating a change in their previously reported ownership or status.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• FMR LLC's subsidiaries and affiliates, including FIAM LLC, Fidelity Institutional Asset Management Trust Company, and Fidelity Management & Research Company LLC, are involved in the beneficial ownership.
• Fidelity Management & Research Company LLC beneficially owns 5% or greater of the outstanding shares.
• Abigail P. Johnson, as a member of the Johnson family, is part of a controlling group with respect to FMR LLC through their ownership of Series B voting common shares and a shareholders' voting agreement.

Sentiment

Score: 5

Explanation: This document is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance or prospects. It simply reports a significant passive stake by a large institutional investor.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding XENON PHARMACEUTICALS INC's future performance or strategic direction.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing indicates a significant passive investment by a major institutional asset manager, FMR LLC, in a pharmaceutical company. Such investments are common in the industry as large funds seek exposure to specific sectors or companies, reflecting a belief in the long-term value of the underlying business without intending to influence its control.

Stakeholder Impact

• Shareholders: The disclosure of a significant 10.3% passive stake by FMR LLC, a prominent institutional investor, may be viewed positively by other shareholders as it signals institutional confidence in XENON PHARMACEUTICALS INC. It also indicates a large block of shares held by a single entity, which could influence trading dynamics.

Key Dates

Keywords

XENON PHARMACEUTICALS INC, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, SEC Filing, Pharmaceuticals