Just saw that Braidwell dumped like $75 million worth of Xenon stock back in February - sold off almost 1.8 million shares when the stock was around $42. Interesting timing tbh, especially with that Phase 3 data for azetukalner supposed to hit in March for focal onset seizures. The fund went from having Xenon as a bigger position down to like 2.6% of their portfolio after the sale. Feels like they're being smart about it - spreading risk instead of going all-in on one biotech binary event. I get it though, biotech can be brutal if the data doesn't pan out. The stock's only up like 6% over the past year which is pretty weak compared to some of the other names that have been running. Xenon's got a lot riding on those Phase 3 results, plus four other studies in the pipeline across epilepsy and neuropsych stuff. The question is whether that March data actually moves the needle or if we see more of the same volatility. Not sure I'd be chasing it at these levels without knowing how those trials actually performed. Anyone else holding this one?

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