$XENE
Xenon Pharmaceuticals Inc.

2018 Form 10-K Financial Statement

#000156459019006514 Filed on March 06, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017
Revenue $0.00 $16.00K $311.0K
YoY Change -100.0% -95.74% -82.72%
Cost Of Revenue $6.000M
YoY Change
Gross Profit -$6.000M
YoY Change
Gross Profit Margin
Selling, General & Admin $8.410M $1.670M $7.310M
YoY Change 15.05% 15.97% 7.66%
% of Gross Profit
Research & Development $23.63M $6.400M $25.57M
YoY Change -7.58% 45.45% 28.96%
% of Gross Profit
Depreciation & Amortization $590.0K $150.0K $650.0K
YoY Change -9.23% -6.25% -24.42%
% of Gross Profit
Operating Expenses $23.63M $8.070M $32.89M
YoY Change -28.13% 38.18% 23.54%
Operating Profit -$29.63M -$8.051M -$32.58M
YoY Change -9.03% 47.4%
Interest Expense $1.394M -$10.00K $1.870M
YoY Change -25.45% -98.15% 2.75%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$34.52M -$8.070M -$30.70M
YoY Change 12.45% 34.5% 33.48%
Income Tax -$24.00K
% Of Pretax Income
Net Earnings -$34.50M -$8.065M -$30.70M
YoY Change 12.35% 34.33% 33.51%
Net Earnings / Revenue -50406.25% -9872.67%
Basic Earnings Per Share -$1.63 -$0.45 -$1.71
Diluted Earnings Per Share -$1.63 -$0.45 -$1.72
COMMON SHARES
Basic Shares Outstanding 19.43M 18.00M 17.99M
Diluted Shares Outstanding 18.00M

Balance Sheet

Concept 2018 2017 Q4 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.3M $43.70M $43.70M
YoY Change 173.0% -31.83% -31.83%
Cash & Equivalents $67.80M $20.49M $20.50M
Short-Term Investments $51.60M $23.20M $23.20M
Other Short-Term Assets $1.900M $700.0K $700.0K
YoY Change 171.43% -46.15% -46.15%
Inventory
Prepaid Expenses
Receivables $200.0K $438.0K $400.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $121.3M $44.82M $44.80M
YoY Change 170.76% -31.78% -31.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.000M $1.070M $1.100M
YoY Change -9.09% -23.57% -21.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $200.0K $200.0K
YoY Change -50.0% -50.0% -50.0%
Total Long-Term Assets $1.100M $1.300M $1.300M
YoY Change -15.38% -27.78% -27.78%
TOTAL ASSETS
Total Short-Term Assets $121.3M $44.82M $44.80M
Total Long-Term Assets $1.100M $1.300M $1.300M
Total Assets $122.4M $46.12M $46.10M
YoY Change 165.51% -31.67% -31.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $3.400M $3.400M
YoY Change -79.41% -5.56% -5.56%
Accrued Expenses $3.400M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $700.0K
YoY Change
Total Short-Term Liabilities $4.100M $4.083M $4.100M
YoY Change 0.0% 13.42% 13.89%
LONG-TERM LIABILITIES
Long-Term Debt $15.00M $6.104M $6.100M
YoY Change 145.9%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $15.00M $6.104M $6.100M
YoY Change 145.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.100M $4.083M $4.100M
Total Long-Term Liabilities $15.00M $6.104M $6.100M
Total Liabilities $19.10M $10.19M $10.20M
YoY Change 87.25% 184.08% 183.33%
SHAREHOLDERS EQUITY
Retained Earnings -$173.4M
YoY Change 21.52%
Common Stock $210.3M
YoY Change 1.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.3M $35.93M $35.90M
YoY Change
Total Liabilities & Shareholders Equity $122.4M $46.12M $46.10M
YoY Change 165.51% -31.66% -31.7%

Cashflow Statement

Concept 2018 2017 Q4 2017
OPERATING ACTIVITIES
Net Income -$34.50M -$8.065M -$30.70M
YoY Change 12.35% 34.33% 33.51%
Depreciation, Depletion And Amortization $590.0K $150.0K $650.0K
YoY Change -9.23% -6.25% -24.42%
Cash From Operating Activities -$34.72M -$6.840M -$28.73M
YoY Change 20.88% 46.47% 46.79%
INVESTING ACTIVITIES
Capital Expenditures $507.0K -$70.00K $315.0K
YoY Change 60.95% 133.33% 12.9%
Acquisitions
YoY Change
Other Investing Activities -$28.48M $5.870M $24.61M
YoY Change -215.73% -118.24% -151.75%
Cash From Investing Activities -$28.99M $5.800M $24.29M
YoY Change -219.32% -118.0% -150.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $102.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 111.6M 6.890M 7.070M
YoY Change 1478.37% 17125.0% -70.49%
NET CHANGE
Cash From Operating Activities -34.72M -6.840M -28.73M
Cash From Investing Activities -28.99M 5.800M 24.29M
Cash From Financing Activities 111.6M 6.890M 7.070M
Net Change In Cash 47.27M 5.850M 2.638M
YoY Change 1691.81% -115.88% -106.07%
FREE CASH FLOW
Cash From Operating Activities -$34.72M -$6.840M -$28.73M
Capital Expenditures $507.0K -$70.00K $315.0K
Free Cash Flow -$35.23M -$6.770M -$29.04M
YoY Change 21.31% 45.91% 46.31%

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<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:9pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:9pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Basis of presentation:<font style="font-weight:normal;"> </font></p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).</p> <p style="margin-bottom:0pt;margin-top:12pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has one wholly-owned subsidiary as at December&#160;31, 2018, Xenon Pharmaceuticals USA Inc., which was incorporated in Delaware on December 2, 2016.</p> <p style="margin-bottom:0pt;margin-top:12pt;margin-left:4.54%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions and balances have been eliminated on consolidation. </p>
CY2018 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">5.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Future changes in accounting policies:<font style="font-weight:normal;"> </font></p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.54%;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">In February 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) 2016-02, Leases (Topic 842): Recognition and Measurement of Financial Assets and Financial Liabilities. The update requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP. The new guidance retains a distinction between finance leases and operating leases, with cash payments from operating leases classified within operating activities in the statement of cash flows. These amendments will be effective for public entities for fiscal years and interim periods within those years, beginning after December 15, 2018.</font><font style="Background-color:#FFFFFF;font-size:11pt;font-family:Garamond;"> </font><font style="Background-color:#FFFFFF;">The Company adopted the standard on January 1, 2019 and can elect to record a cumulative-effect adjustment as of the beginning of the year of adoption or apply a modified retrospective transition approach. The Company has identified one operating lease for its premises which will be subject to the new guidance and will be recognized as an operating lease liability and right-of-use asset upon adoption.</font></p> <p style="margin-top:12pt;margin-bottom:0pt;margin-left:9.06%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606. These amendments make targeted improvements to accounting for collaborative arrangements by clarifying that certain transactions between collaborative arrangement participants should be accounted for as revenue under Topic 606 when the collaborative arrangement participant is a customer in the context of a unit of account. In those situations, all the guidance in Topic 606 should be applied, including recognition, measurement, presentation, and disclosure requirements. In addition, unit-of-account guidance in Topic 808 was aligned with the guidance in Topic 606 (that is, a distinct good or service) when an entity is assessing whether the collaborative arrangement or a part of the arrangement is within the scope of Topic 606. These amendments will be effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2019 and should be applied retrospectively to the date of initial application of Topic 606. The Company is currently evaluating the new guidance to determine the impact it will have on the Company&#8217;s consolidated financial statements. </p>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Use of estimates: </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:9.06%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant areas of estimates include, but are not limited to, the timing of revenue recognition, the determination of stock-based compensation and the amounts recorded as accrued liabilities. Actual results could differ materially from those estimates. Estimates and assumptions are reviewed quarterly. All revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. </p>
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td> <td valign="top" style="width:3.33%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:6pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(g)</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Concentration of credit risk and of significant customers: </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:9.06%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. Cash and cash equivalents were held at major financial institutions in Canada and the United States. Such deposits may be in excess of insured limits in the event of non-performance by the institutions; however, the Company does not anticipate non-performance.</p>
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2018 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16199000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15638000
CY2018Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
665000
CY2017Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1253000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1728000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1017000
CY2018Q4 xene Accrued Consulting And Contracted Research Current
AccruedConsultingAndContractedResearchCurrent
1404000
CY2017Q4 xene Accrued Consulting And Contracted Research Current
AccruedConsultingAndContractedResearchCurrent
817000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
237000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
252000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
85000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
44000
CY2017Q4 xene Class Of Warrants Or Rights Period Increase Decrease
ClassOfWarrantsOrRightsPeriodIncreaseDecrease
36008
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5167000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6200000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4133000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
15500000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1910823
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
620950
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
71006
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
120862
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2339905
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
706600
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
251163
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
123436
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2671906
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1566435
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.84
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.32
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
8.69
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.69
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.72
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.86
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.06
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.98
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.32
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.41
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.73
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.19
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.57
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.53
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1194000
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1079000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1128000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1130000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1069000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
256000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
3583000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.61
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
10.50
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.49
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.96
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.70
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.84
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
108000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
159000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1028000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3483000
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2198000
CY2018 xene Stock Options Exercised For Number Of Common Shares For Cash
StockOptionsExercisedForNumberOfCommonSharesForCash
49502
CY2017 xene Stock Options Exercised For Number Of Common Shares For Cash
StockOptionsExercisedForNumberOfCommonSharesForCash
63425
CY2018 xene Common Stock Issued For Cashless Exercise
CommonStockIssuedForCashlessExercise
106474
CY2017 xene Common Stock Issued For Cashless Exercise
CommonStockIssuedForCashlessExercise
4405
CY2018 xene Cashless Exercise Of Stock Options
CashlessExerciseOfStockOptions
201661
CY2017 xene Cashless Exercise Of Stock Options
CashlessExerciseOfStockOptions
7581
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M23D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
900604
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
437771
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
63962
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1105471
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
7.12
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
5.66
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
8.47
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
5.17
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
5.61
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
4.11
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2861000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2047000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0279
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0235
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.80
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.02
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2760000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2236000
CY2018Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3919000
CY2018 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y4M28D
CY2018Q1 us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
4398000
CY2018 xene Additional Milestone Payments Or Royalties Received
AdditionalMilestonePaymentsOrRoyaltiesReceived
0
CY2018 us-gaap Description Of Lessor Leasing Arrangements Operating Leases
DescriptionOfLessorLeasingArrangementsOperatingLeases
for a 120-month term from April 1, 2012 to March 31, 2022,
CY2018 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2022-03-31
CY2018Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P120M
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.27
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.27
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-9273000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-8000000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
10472000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9210000
CY2018 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
1567000
CY2017 us-gaap Income Tax Reconciliation Tax Credits Investment
IncomeTaxReconciliationTaxCreditsInvestment
1393000
CY2018 xene Income Tax Reconciliation Tax Attributes Expired Utilized
IncomeTaxReconciliationTaxAttributesExpiredUtilized
911000
CY2017 xene Income Tax Reconciliation Tax Attributes Expired Utilized
IncomeTaxReconciliationTaxAttributesExpiredUtilized
683000
CY2018 xene Income Tax Reconciliation Nondeductible Expense Benefit
IncomeTaxReconciliationNondeductibleExpenseBenefit
-473000
CY2017 xene Income Tax Reconciliation Nondeductible Expense Benefit
IncomeTaxReconciliationNondeductibleExpenseBenefit
594000
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-1444000
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-70000
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
350000
CY2018Q4 xene Deferred Tax Assets Scientific Research And Development
DeferredTaxAssetsScientificResearchAndDevelopment
26572000
CY2017Q4 xene Deferred Tax Assets Scientific Research And Development
DeferredTaxAssetsScientificResearchAndDevelopment
25056000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
23808000
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
22872000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
22035000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13645000
CY2018Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
5710000
CY2017Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
5360000
CY2018Q4 xene Deferred Tax Assets Deferred Financing Fees
DeferredTaxAssetsDeferredFinancingFees
1303000
CY2017Q4 xene Deferred Tax Assets Deferred Financing Fees
DeferredTaxAssetsDeferredFinancingFees
578000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
98000
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
114000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
79526000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
67625000
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
98412000
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
92799000
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
81611000
CY2017Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
50536000
CY2018 us-gaap Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
2038-12-31
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6350000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6350000

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