Is XENE halal?
Xenon Pharmaceuticals Inc.
Not halal
Xenon Pharmaceuticals Inc. did not pass AAOIFI screening. The failed check is shown below.
Checked: 15 October 2026
Exchange
NASDAQ
Price
33.49
Day
-2.45%
Market cap
$3.35B
Industry
Biotechnology
Sector
Healthcare
What the company does
Xenon Pharmaceuticals (Canada) is a clinical-stage biotech testing azetukalner for epilepsy and depression (phase 3). No commercial product yet.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $0 ÷ 36-month average market cap $3.48B = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $1.25B ÷ 36-month average market cap $3.48B = 35.8%
35.8%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $26.83M ÷ annual revenue $7.50M (2025) = 357.7%
357.7%
Fail
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $3.35B.
For information (AAOIFI 3/1 note): cash + receivables are 72.0% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Biotechnology — for comparison.
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- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.