Floatz Rating
CCC54/100
Confidence
Indicative
Sponsor
Xenon Pharmaceuticals Inc.
Modality
Small molecule
Development Phase
Phase 3
Status
Active
Evidence ledger · v0.2
Clinical Evidence
Clinical track record: trial progression, reported outcomes, safety signals, and endpoint quality.
45Indicative
Detailed axis rationale is planned and will be published soon.
| Trial | Phase | Status | N | Primary endpoint | Readout |
|---|---|---|---|---|---|
NCT07217860CT.gov An Open-label Study of Azetukalner in Bipolar I or II Depression (X-CEED-OLE) | — | Enrolling By Invitation | — | — | — |
NCT07172516CT.gov A Randomized Study of Azetukalner Versus Placebo in Depressive Episodes Associated With Bipolar I or II Disorder (Bipolar Depression) | — | Recruiting | — | — | — |
Competitive Position
Competitive setting: how crowded the indication is, class-level failures, and timing against rivals.
73High confidence
Detailed axis rationale is planned and will be published soon.
Same indication · Bipolar Disorder
| Asset | Sponsor | Phase | Rating |
|---|---|---|---|
| Encukalner (this asset) | Xenon Pharmaceuticals Inc. | P3 | CCC · 54 |
| Asenapine | Dr. Stavroula Rakitzi | P4 | BBB |
| Quetiapine | First Affiliated Hospital of Zhejiang University | P4 | BBB |
| Lamotrigine | Johns Hopkins University | P4 | BBB |
| Lithium, Elemental | University of Aarhus | P4 | BBB |
| Citalopram | University of Texas Southwestern Medical Center | P4 | BBB |
| Escitalopram | First Affiliated Hospital of Zhejiang University | P4 | BBB |
| Paroxetine | Mental Health Centre Copenhagen, Bispebjerg and Frederiksberg Hospital | P4 | BBB |
| Valproic Acid | University of New Mexico | P4 | BBB |
+42 more in the Bipolar Disorder cohort
Other indications for Encukalner
| Indication | Sponsor | Phase | Rating |
|---|---|---|---|
| Focal Epilepsy | — | P3 | BB · 67 |
| Epilepsy With Generalized Tonic-Clonic Seizures | — | P3 | B · 60 |
| Bipolar Depression | — | P3 | B · 57 |
Scientific Foundation
Strength of the underlying biology: target validation, tractability, modality fit, and how related mechanisms have fared.
NR
Planned for methodology v0.2.
Development Feasibility
How realistically the program can be executed, drawing on modality precedent, enrollment dynamics, and sponsor delivery.
NR
Planned for methodology v0.2.
Commercial Opportunity
Commercial prize: addressable population, unmet need, and the value case for the indication.
NR
Planned for methodology v0.2.
IP & Exclusivity
Exclusivity position, covering patent protection and freedom-to-operate runway.
NR
Planned for methodology v0.2.
Manufacturing & Supply
Manufacturing and supply readiness, driven by modality process and scale-up risk.
NR
Planned for methodology v0.2.
Related assets
Citation
Floatz Terminal. Encukalner in Bipolar Disorder. Methodology v0.2. Rated under v0.2 effective July 8, 2026. Last refreshed July 8, 2026. Accessed July 14, 2026. https://terminal.floatz.ai/assets/encukalner-bipolar-disorder
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