An investigation on behalf of investors in XenoPort, Inc. (NASDAQ:XNPT) common stock, including those who purchased XNPT stock between May 5, 2009 and February 17, 2010, over possible violations of Federal Securities Laws was announced.

XenoPort, Inc., located in Santa Clara, California, is a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates, which utilizes the bodys natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs. XenoPort, Inc. reported in 2007 Total Revenue of $113.82million, in 2008 $42.00million, and in 2009 $34.27million. According to the investigation by a law firm the investigation focuses on potential violations of the federal securities laws by XenoPort, Inc. and others.

The investigation concerns whether, among other things, a series of statements regarding XenoPort's experimental drug Horizant (gabapentin enacarbil) were materially false and misleading at the time they were made. On February 17, 2010, after the market closed, XenoPort, Inc announced that it has received a complete response letter from the U.S. Food and Drug Administration (FDA) regarding the New Drug Application (NDA) for Horizant indicating that a preclinical finding of pancreatic acinar cell tumors in rats was of sufficient concern to preclude approval of Horizant for Restless Legs Syndrome at this time. On February 17, 2010, XNPT shares traded at $19.60 per share, and dropped after the announcement to $6.67 per share on February 18, 2010. Shares of XenoPort, Inc. (Public, NASDAQ:XNPT) traded recently at $10.30 per share, down from its 52weekHigh of $25.42 per share, and over $60 per share in 2008.