<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<headerData>
<submissionType>144</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001619961</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>
</filerInfo>
</headerData>
<formData>
<issuerInfo>
<issuerCik>0001582313</issuerCik>
<issuerName>Xenon Pharmaceuticals Inc.</issuerName>
<secFileNumber>001-36687</secFileNumber>
<issuerAddress>
<street1 xmlns="http://www.sec.gov/edgar/common">3650 Gilmore Way</street1>
<city xmlns="http://www.sec.gov/edgar/common">Burnaby</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">A1</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">V5G 4W8</zipCode>
</issuerAddress>
<issuerContactPhone>(604)-484-3300</issuerContactPhone>
<nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>IAN MORTIMER</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
<relationshipsToIssuer>
<relationshipToIssuer>Officer</relationshipToIssuer>
<relationshipToIssuer>Director</relationshipToIssuer>
</relationshipsToIssuer>
</issuerInfo>
<securitiesInformation>
<securitiesClassTitle>Common Shares</securitiesClassTitle>
<brokerOrMarketmakerDetails>
<name>Canaccord Genuity Corp.</name>
<address>
<street1 xmlns="http://www.sec.gov/edgar/common">1133 Melville St</street1>
<street2 xmlns="http://www.sec.gov/edgar/common">Suite 1200</street2>
<city xmlns="http://www.sec.gov/edgar/common">Vancouver, BC</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">Z4</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">V6E 4E5</zipCode>
</address>
</brokerOrMarketmakerDetails>
<noOfUnitsSold>270000</noOfUnitsSold>
<aggregateMarketValue>16289196</aggregateMarketValue>
<noOfUnitsOutstanding>83190316</noOfUnitsOutstanding>
<approxSaleDate>03/09/2026</approxSaleDate>
<securitiesExchangeName>NASDAQ</securitiesExchangeName>
</securitiesInformation>
<securitiesToBeSold>
<securitiesClassTitle>Common Shares</securitiesClassTitle>
<acquiredDate>03/09/2026</acquiredDate>
<natureOfAcquisitionTransaction>Exercise of Options</natureOfAcquisitionTransaction>
<nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
<isGiftTransaction>N</isGiftTransaction>
<amountOfSecuritiesAcquired>270000</amountOfSecuritiesAcquired>
<paymentDate>03/09/2026</paymentDate>
<natureOfPayment>Cash</natureOfPayment>
</securitiesToBeSold>
<nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
<securitiesSoldInPast3Months>
<sellerDetails>
<name>Ian Mortimer</name>
<address>
<street1 xmlns="http://www.sec.gov/edgar/common">3650 Gilmore Way</street1>
<city xmlns="http://www.sec.gov/edgar/common">Burnaby</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">A1</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">V5G 4W8</zipCode>
</address>
</sellerDetails>
<securitiesClassTitle>Common Shares</securitiesClassTitle>
<saleDate>01/02/2026</saleDate>
<amountOfSecuritiesSold>40000</amountOfSecuritiesSold>
<grossProceeds>1777166</grossProceeds>
</securitiesSoldInPast3Months>
<remarks>The Common Shares reported on this Form 144 were obtained via the exercise of options scheduled to expire between March 12, 2027 and September 15, 2029, and are being sold pursuant to a Rule 10b5-1 trading plan.</remarks>
<noticeSignature>
<noticeDate>03/09/2026</noticeDate>
<planAdoptionDates>
<planAdoptionDate>09/27/2024</planAdoptionDate>
</planAdoptionDates>
<signature>/s/ Ian Mortimer</signature>
</noticeSignature>
</formData>
</edgarSubmission>
