<SEC-DOCUMENT>0000950123-14-009296.txt : 20141204
<SEC-HEADER>0000950123-14-009296.hdr.sgml : 20141204
<ACCEPTANCE-DATETIME>20140820152707
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-14-009296
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20140820

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Xenon Pharmaceuticals Inc.
		CENTRAL INDEX KEY:			0001582313
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				980661854
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		200 - 3650 GILMORE WAY
		CITY:			BURNABY
		STATE:			A1
		ZIP:			V5G 48W
		BUSINESS PHONE:		(604) 484-3300

	MAIL ADDRESS:	
		STREET 1:		200 - 3650 GILMORE WAY
		CITY:			BURNABY
		STATE:			A1
		ZIP:			V5G 48W
</SEC-HEADER>
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<TYPE>DRSLTR
<SEQUENCE>1
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:ARIAL" SIZE="2">August 20, 2014 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:ARIAL" SIZE="2"><B><I>Via EDGAR and Overnight Delivery </I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Securities and Exchange Commission </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Division of Corporation Finance </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">100 F Street, N.E. </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Washington, D.C. 20549-3720 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:ARIAL" SIZE="2">Attention:</FONT></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Jeffrey P. Riedler, Assistant Director</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Johnny
Gharib, Attorney</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Joel Parker, Accounting Branch Chief</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:ARIAL" SIZE="2">Tabatha Akins, Staff Accountant</FONT></P></TD></TR>
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<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>Re:</B></FONT></TD>
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<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>Xenon Pharmaceuticals Inc.</B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>Amendment #2 to Draft Registration Statement on <FONT STYLE="white-space:nowrap">Form&nbsp;S-1</FONT></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:ARIAL" SIZE="2"><B>Submitted March&nbsp;19, 2014</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>CIK No.&nbsp;0001582313</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:3%"><FONT
STYLE="font-family:ARIAL" SIZE="2">On behalf of Xenon Pharmaceuticals Inc. (the &#147;<B>Company</B>&#148;), we submit this letter in response to comments from the staff (the &#147;<B>Staff</B>&#148;) of the Securities and Exchange Commission (the
&#147;<B>Commission</B>&#148;) received by letter dated April&nbsp;9, 2014, relating to the Company&#146;s Amendment&nbsp;#2 to Confidential Draft Registration Statement on <FONT STYLE="white-space:nowrap">Form&nbsp;S-1</FONT> (CIK
No.&nbsp;0001582313) submitted to the Commission on March&nbsp;19, 2014 (the &#147;<B>Registration Statement</B>&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:ARIAL" SIZE="2">On behalf of
the Company, we are concurrently submitting on a confidential basis via EDGAR an amended draft Registration Statement (<B></B>&#147;<B>Amendment No.&nbsp;3</B>&#148;), and, for the convenience of the Staff, we are providing to the Staff by overnight
delivery copies of this letter and marked copies of Amendment No.&nbsp;3 (against the Registration Statement). Amendment No.&nbsp;3, as confidentially submitted via EDGAR, is marked as specified in Item&nbsp;310 of
<FONT STYLE="white-space:nowrap">Regulation&nbsp;S-T.</FONT> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:3%"><FONT STYLE="font-family:ARIAL" SIZE="2">In this letter, we have recited the comments from the Staff in italicized,
bold type and have followed each comment with the Company&#146;s response. Except as otherwise specifically indicated, page references herein correspond to the page of Amendment No.&nbsp;3, as applicable. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>Prospectus Summary </U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>Our Programs
</U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>Xenon&#146;s Proprietary Product Candidates, page 4 </U></B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>1.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>Please remove the disclosure under the section entitled &#147;Xenon&#146;s Proprietary Product Candidates&#148; on <FONT STYLE="white-space:nowrap">pages&nbsp;4-5.</FONT>
This disclosure is too preliminary to be highlighted in the prospectus summary and is already appropriately located in the Business section. Alternatively, you may replace this disclosure with a single paragraph summarizing your preclinical
proprietary product candidates. If you retain the abbreviated disclosure, please revise the caption to insert the word preclinical. </I></B></FONT></TD></TR></TABLE>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:ARIAL" SIZE="2">August 20, 2014 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Page 2 </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; margin-left:3%"><FONT
STYLE="font-family:ARIAL" SIZE="2">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages&nbsp;4 and 5 of Amendment No.&nbsp;3. The Company respectfully submits that inclusion of the revised preclinical product
candidate disclosure in the prospectus summary is helpful to a prospective investor and appropriate. Unlike the development of the Company&#146;s later-stage programs, which development is being funded by the Company&#146;s collaboration partners,
the Company&#146;s proposed use of proceeds from the offering includes funding the development activities for these preclinical product candidates. Please refer to page&nbsp;53 of Amendment No.&nbsp;3 for the disclosure related to the proposed use
of the offering proceeds. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>Strategic Alliances, page 104 </U></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>2.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>We note your response to our prior comment&nbsp;5. For each of the agreements with uniQure, Teva, Genentech and Merck, please explain how the royalty term is calculated,
including a summary of any exceptions and variations to the term. </I></B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:3%"><FONT STYLE="font-family:ARIAL" SIZE="2">In response to the Staff&#146;s comment, the
Company has revised the disclosure on pages&nbsp;108-111 of Amendment No.&nbsp;3. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>TV-45070: A Small Molecule for the Treatment of Pain
</U></B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>Oral TV-45070 Phase 2 Trial in EM, page 95 </U></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>3.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>We note that you have presented the first four paragraphs of this section two times on pages&nbsp;95 and 96 of your filing. Please delete the repeated paragraphs from
page&nbsp;96. </I></B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:3%"><FONT STYLE="font-family:ARIAL" SIZE="2">In response to the Staff&#146;s comment, the Company has revised the disclosure on page&nbsp;98 of
Amendment No.&nbsp;3. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><U>Principal Shareholders, page 143 </U></B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>4.</I></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2"><B><I>Please revise your principal shareholders table so that it is as of the latest practicable date rather than as of December&nbsp;31, 2013. </I></B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px; margin-left:3%"><FONT STYLE="font-family:ARIAL" SIZE="2">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages&nbsp;148-150 of Amendment No.&nbsp;3. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:ARIAL" SIZE="2">* * * * * </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:ARIAL" SIZE="2">August 20, 2014 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Page 3 </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:3%"><FONT
STYLE="font-family:ARIAL" SIZE="2">Please direct your questions or comments regarding the Company&#146;s responses or Amendment No.&nbsp;3 to Steven&nbsp;V. Bernard at (650)&nbsp;493-9300. Thank you for your assistance. </FONT></P>
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<TD VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2">Sincerely,</FONT></TD></TR>
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<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">WILSON SONSINI GOODRICH&nbsp;&amp; ROSATI</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:ARIAL" SIZE="2">Professional Corporation</FONT></P></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2">/s/ Steven V. Bernard</FONT></TD></TR>
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<TD VALIGN="top"><FONT STYLE="font-family:ARIAL" SIZE="2">Steven V. Bernard</FONT></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Enclosures </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" NOWRAP ALIGN="right"><FONT STYLE="font-family:ARIAL" SIZE="2">cc&nbsp;(w/encl.):</FONT></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Simon Pimstone</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>Xenon Pharmaceuticals
Inc.</B></FONT></P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Charles Kim</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>Cooley
LLP</B></FONT></P></TD></TR>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:ARIAL" SIZE="2">Anthony Lindsay</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:ARIAL" SIZE="2"><B>KPMG
LLP</B></FONT></P></TD></TR>
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