US biopharmaceutical company Xenoport explores sale

US biopharmaceutical company Xenoport Inc is in the early stages of exploring a potential sale, Reuters today reported, citing people familiar with the matter.

Xenoport, based in California, is working with an investment bank and has reached out to potential buyers to discuss a sale, the report said.

XenoPort focused on developing a portfolio of drugs for the treatment of neurological and other disorders.

It is commercialising Horizant Extended-Release tablets in the US and has entered into a clinical trial agreement with the National Institute on Alcohol Abuse and Alcoholism (NIAAA) under which the NIAAA has initiated a clinical trial evaluating gabapentin enacarbil as a potential treatment for AUD. 

Its Regnite extended-release tablets is being marketed in Japan by Astellas Pharma and XenoPort has granted exclusive world-wide rights for the development and commercialisation of its clinical-stage oral product candidate, arbaclofen placarbil, to Indivior Plc for all indications. 

XenoPort's other product candidates include XP23829, a novel fumaric acid ester prodrug that is a potential treatment for patients with moderate-to-severe chronic plaque-type psoriasis or patients with relapsing forms of multiple sclerosis, and XP21279, a prodrug of levodopa that is a potential treatment for patients with idiopathic Parkinson's disease.

The Nasdaq-listed company has a market cap of $303 million. Its stock yesterday closed at $4.79.