<?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>0001880129</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>CHRISTOPHER JOHN KENNEY</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
<relationshipsToIssuer>
<relationshipToIssuer>Officer</relationshipToIssuer>
</relationshipsToIssuer>
</issuerInfo>
<securitiesInformation>
<securitiesClassTitle>Common Shares</securitiesClassTitle>
<brokerOrMarketmakerDetails>
<name>Morgan Stanley Wealth Management Canada Inc.</name>
<address>
<street1 xmlns="http://www.sec.gov/edgar/common">Suite 1500, 600 - 3 Avenue SW</street1>
<city xmlns="http://www.sec.gov/edgar/common">Calgary</city>
<stateOrCountry xmlns="http://www.sec.gov/edgar/common">Z4</stateOrCountry>
<zipCode xmlns="http://www.sec.gov/edgar/common">T2P 0G5</zipCode>
</address>
</brokerOrMarketmakerDetails>
<noOfUnitsSold>2771</noOfUnitsSold>
<aggregateMarketValue>166559</aggregateMarketValue>
<noOfUnitsOutstanding>83190316</noOfUnitsOutstanding>
<approxSaleDate>03/10/2026</approxSaleDate>
<securitiesExchangeName>NASDAQ</securitiesExchangeName>
</securitiesInformation>
<securitiesToBeSold>
<securitiesClassTitle>Common Shares</securitiesClassTitle>
<acquiredDate>03/09/2026</acquiredDate>
<natureOfAcquisitionTransaction>Performance share unit award vesting</natureOfAcquisitionTransaction>
<nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
<isGiftTransaction>N</isGiftTransaction>
<amountOfSecuritiesAcquired>7500</amountOfSecuritiesAcquired>
<paymentDate>03/09/2026</paymentDate>
<natureOfPayment>N/A</natureOfPayment>
</securitiesToBeSold>
<nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
<remarks>The Common Shares reported on this Form 144 were obtained via the vesting of a performance share unit award on March 9, 2026, and are being sold pursuant to a Rule 10b5-1 trading arrangement in the form of a durable sell-to-cover instruction.</remarks>
<noticeSignature>
<noticeDate>03/10/2026</noticeDate>
<planAdoptionDates>
<planAdoptionDate>12/03/2025</planAdoptionDate>
</planAdoptionDates>
<signature>/s/ Christopher Kenney</signature>
</noticeSignature>
</formData>
</edgarSubmission>
