XenoPort Files Investor Presentation

  XenoPort Files Investor Presentation

     XenoPort Has the Right Strategy and Board to Build Stockholder Value

 Highlights Progress Company is Making Executing its Strategy to Realize Full
                          Value of XenoPort’s Assets

Board Urges XenoPort Stockholders to Vote “FOR ALL” XenoPort Director Nominees
                             on WHITE Card Today

Business Wire

SANTA CLARA, Calif. -- May 21, 2014

XenoPort, Inc. (Nasdaq: XNPT) today announced that it has filed a presentation
with the U.S. Securities and Exchange Commission (SEC) in connection with the
Company’s upcoming Annual Meeting, which will be held on June 11, 2014. The
presentation is available on the SEC's website at www.sec.gov.

Highlights of the presentation include:

  *XenoPort’s Board of Directors and management team are committed to
    realizing the full potential of XenoPort’s assets;
  *XenoPort’s Board is active and engaged, and has the depth, diversity of
    skills and expertise needed to oversee the execution of XenoPort’s
    strategy;
  *XenoPort is making meaningful progress commercializing and building value
    in HORIZANT^® (gabapentin enacarbil) Extended-Release Tablets. With its
    focused commercial efforts involving just ~40 sales reps, XenoPort
    recently achieved a level of prescribed HORIZANT tablets, based on the
    four-week period ending May 9, that corresponds to an annualized gross
    demand sales run-rate of $25 million;
  *XenoPort is committed to optimizing the value of XP23829, and is taking
    appropriate steps to move it through the development process;
  *XenoPort’s ability to monetize and create value for its assets is also
    demonstrated in its May 15, 2014 agreement with Reckitt Benckiser
    Pharmaceuticals, Inc., subject to antitrust regulatory clearance;

  *XenoPort’s Board has concluded that the nominees of Clinton Relational
    Opportunity Master Fund, L.P. and its affiliates (Clinton) add no relevant
    skills, experience or expertise that is not already well represented on
    the Board; and
  *XenoPort’s Board believes that Clinton’s nominees will push an agenda that
    could undermine the Board’s goal of maximally enhancing value of XenoPort
    through its current investment in both HORIZANT and XP23829.

XenoPort stockholders are reminded that their vote is important, no matter how
many or how few shares they own. The XenoPort Board urges stockholders to
protect their investment by voting the WHITE proxy card today “FOR ALL” of
XenoPort’s nominees: Ronald W. Barrett, Ph.D., Jeryl L. Hilleman and Wendell
Wierenga, Ph.D., “FOR” Proposals 2 through 4 and 9 through 14 and “AGAINST”
Clinton Proposals 5 through 8.

  If you have any questions, require assistance with voting your WHITE proxy
    card or need additional copies of the proxy materials, please contact:

                           MACKENZIE PARTNERS, INC.

                              105 Madison Avenue

                              New York, NY 10016

                         proxy@mackenziepartners.com

                        (212) 929-5500 (Call Collect)

                                      Or

                           TOLL-FREE (800) 322-2885

Important Additional Information and Where to Find It

XenoPort, Inc., its directors and certain of its executive officers may be
deemed to be participants in the solicitation of proxies from stockholders in
connection with XenoPort’s 2014 Annual Meeting of Stockholders. XenoPort has
filed with the SEC and provided to its stockholders a definitive proxy
statement and a WHITE proxy card in connection with such solicitation.
XENOPORT STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE PROXY STATEMENT
(INCLUDING ANY AMENDMENTS AND SUPPLEMENTS) AND THE ACCOMPANYING WHITE PROXY
CARD, AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE, BECAUSE
THEY CONTAIN IMPORTANT INFORMATION.

Information regarding the names of XenoPort’s directors and executive officers
and their respective interests in XenoPort by security holdings or otherwise
is set forth in XenoPort’s definitive proxy statement for the 2014 Annual
Meeting of Stockholders, filed with the SEC on April 22, 2014, including
Appendix B thereto.

The definitive proxy statement (and amendments or supplements thereto) and the
accompanying WHITE proxy card, and any other relevant documents and other
material filed by XenoPort with the SEC, are or will be available for no
charge at the SEC’s website at www.sec.gov and at XenoPort’s investor
relations website at http://investor.xenoport.com/index.cfm. Copies may also
be obtained free of charge by contacting XenoPort Investor Relations by mail
at 3410 Central Expressway, Santa Clara, California 95051 or by telephone at
(408) 616-7200.

Forward-Looking Statements

This press release contains “forward-looking” statements, including, without
limitation, all statements related to the potential value of XenoPort’s assets
and XenoPort’s ability to achieve its goal of enhancing stockholder value
through the execution of its strategic plan, including all statements related
to the commercial and value opportunity for HORIZANT and the suitability of
XP23829 as a potential treatment for psoriasis or relapsing forms of multiple
sclerosis; XenoPort’s current strategy for advancing the XP23829 clinical
development program; and other statements that are not historical facts. Any
statements contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements. Words such as
“believe,” “could,” “may,” “plan,” “will” and similar expressions are intended
to identify forward-looking statements. These forward-looking statements are
based upon XenoPort’s current expectations. Forward-looking statements involve
risks and uncertainties. XenoPort’s actual results and the timing of events
could differ materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which include,
without limitation: risks related to XenoPort’s lack of commercialization
experience and its ability to successfully market and sell HORIZANT, including
XenoPort’s ability to maintain sales, marketing, distribution, supply chain
and other sufficient capabilities to sell HORIZANT; XenoPort’s dependence on
the success of its strategies for HORIZANT commercialization, promotion and
distribution, as well as its ability to successfully execute on these
activities and to comply with applicable laws, regulations and regulatory
requirements; the competitive environment for and the degree of market
acceptance of HORIZANT; obtaining appropriate pricing and reimbursement for
HORIZANT in an increasingly challenging environment; the difficulty and
uncertainty of pharmaceutical product development and the uncertain results
and timing of clinical trials and other studies, including the risk that
success in preclinical testing and early clinical trials does not ensure that
later clinical trials will be successful; XenoPort’s ability to successfully
advance XP23829 development and to conduct or initiate clinical trials in the
anticipated timeframes, or at all; the uncertainty of the FDA’s review process
and other regulatory requirements, including the risk that FDA action,
including with respect to the investigational new drug application for
XP23829, would delay or prevent the initiation of future clinical trials of
XP23829; XenoPort’s need for and the availability of resources to develop
XP23829 and to support XenoPort’s operations; XenoPort’s dependence on future
collaborative partners; the uncertain therapeutic and commercial value of
HORIZANT and XP23829; as well as risks related to future opportunities and
plans, including the uncertainty of future operating results. These and other
risk factors are discussed under the heading “Risk Factors” in XenoPort’s
Quarterly Report on Form 10-Q for the quarter ended March 31, 2014 filed with
the SEC on May 9, 2014. XenoPort expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in the
Company’s expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based.

About XenoPort

XenoPort, Inc. is a biopharmaceutical company focused on developing and
commercializing a portfolio of internally discovered product candidates for
the potential treatment of neurological disorders. XenoPort is currently
commercializing HORIZANT in the United States and developing its novel fumaric
acid ester product candidate, XP23829, as a potential treatment for patients
with moderate-to-severe chronic plaque type psoriasis and/or relapsing forms
of multiple sclerosis. REGNITE^® (gabapentin enacarbil) Extended-Release
Tablets is being marketed in Japan by Astellas Pharma Inc. XenoPort's pipeline
of product candidates also includes a potential treatment for patients with
Parkinson's disease.

To learn more about XenoPort, please visit the website at www.XenoPort.com.

XNPT2G

Contact:

XenoPort, Inc.
Jackie Cossmon, 408-616-7220
ir@XenoPort.com
 
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