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Praxis Precision Medicines, Inc. (NASDAQ: PRAX) is a clinical-stage biopharmaceutical company dedicated to developing innovative therapies for central nervous system (CNS) disorders characterized by neuronal imbalance. By leveraging genetic insights, Praxis aims to address conditions ranging from major depressive disorder to epilepsy.
The company's lead product candidates include:
- Prax-114: An extrasynaptic-preferring GABAA receptor positive allosteric modulator, currently in Phase IIa trials for treating major depressive disorder and perimenopausal depression.
- Prax-944: A selective small molecule inhibitor of T-type calcium channels, in Phase IIa trials for essential tremor treatment.
- Prax-562: A persistent sodium current blocker in Phase I trials aimed at severe pediatric epilepsy and adult cephalgia.
- Prax-222 (Elsunersen): An antisense oligonucleotide targeting gain-of-function SCN2A epilepsy, under collaboration with Ionis Pharmaceuticals and RogCon, Inc.
- PRAX-628: A next-gen small molecule targeting sodium-channels in the brain, being developed as a treatment for focal epilepsy.
- Ulixacaltamide: A small molecule inhibitor for essential tremor, currently in late-stage development.
Recent news highlights include a partnership with Tenacia to extend ulixacaltamide's reach to Greater China, and advances in the PRAX-628 program demonstrating its potential as a best-in-class epilepsy drug.
Financially, Praxis has shown significant progress. As of the latest reports, the company has sufficient funding to continue operations into 2027, driven by strategic public offerings and a lean operational model.
For more details, visit www.praxismedicines.com and follow them on social media channels.
Praxis Precision Medicines (NASDAQ: PRAX) has announced that it will release topline results from the Phase 2 EMBOLD study of relutrigine (PRAX-562) on September 3, 2024, before the market opens. The study focuses on SCN2A and SCN8A Developmental and Epileptic Encephalopathies (DEEs). Following the announcement, the company will host a conference call and webcast presentation at 8:00 a.m. ET to discuss the trial results. This event is significant for Praxis, a clinical-stage biopharmaceutical company developing therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance.
Praxis Precision Medicines (NASDAQ: PRAX) provided a corporate update and reported Q2 2024 financial results. Key highlights include:
- Up to four programs in registrational phase by 2025
- Planned interim analysis for ulixacaltamide Essential3 Study 1 in Q4 2024
- Topline results for Phase 2 EMBOLD study of relutrigine expected in Q3 2024
- PRAX-628 Phase 2/3 POWER1 study to initiate in Q4 2024
- Cash and investments of $434 million as of June 30, 2024, maintaining runway into 2027
Financial results show $0.4 million in collaboration revenue, $27.3 million in R&D expenses, and a net loss of $32.7 million for Q2 2024. The company's strong cash position supports advancement of its clinical programs towards regulatory registrations.
Praxis Precision Medicines (NASDAQ: PRAX), a clinical-stage biopharmaceutical company focused on developing therapies for central nervous system (CNS) disorders, has announced it will release its second quarter 2024 financial results on Tuesday, August 13, 2024, before the market opens. The company will host a live webcast at 8am EDT on the same day to discuss the results.
Investors and interested parties can access the webcast through a registration link or via the Events & Presentations page on the company's website. A replay of the webcast will be available on Praxis' website for 90 days following the event. This announcement provides an opportunity for stakeholders to gain insights into the company's financial performance and operational progress in developing treatments for CNS disorders characterized by neuronal excitation-inhibition imbalance.
Praxis Precision Medicines (Nasdaq: PRAX) announced that its Compensation Committee has granted non-qualified stock options and restricted stock units to a new non-executive employee under its 2024 Inducement Plan. This plan is used to attract new talent under Nasdaq Listing Rule 5635(c)(4). The grants include stock options to purchase 300 shares and restricted stock units covering 225 shares of common stock. The exercise price of the options is $47.05 per share, matching the closing price on the Nasdaq Global Select Market as of June 3, 2024. The stock options will vest over four years, with 25% vesting after the first year and the remaining vesting equally over the subsequent three years. Similarly, the restricted stock units will vest in four equal annual installments, contingent on the employee’s continued employment.
Praxis Precision Medicines (NASDAQ: PRAX), a clinical-stage biopharmaceutical company focused on CNS disorders, announced its participation in three upcoming investor conferences. Praxis will attend the H.C. Wainwright 2nd Annual BioConnect Investor Conference in New York on May 20, 2024, with a live webcast available. The company will also be at the Mizuho Securities USA Neuroscience Summit in Boston on May 21, 2024. Additionally, Praxis will join the Jefferies Global Healthcare Conference in New York on June 6, 2024, with a live webcast available. Replay of the webcasts will be accessible on the company's website for 90 days.
Praxis Precision Medicines, Inc. provided a corporate update and reported financial results for Q1 2024. The company plans to initiate two efficacy studies for PRAX-628, continues recruitment for Essential3 trials, and completed a public offering, resulting in cash of $451.2 million. Key developments include positive results for PRAX-628, expected topline results for Essential3 in H2 2024, and PRAX-562 Phase 2 EMBOLD study results in Q3 2024. Praxis aims to submit a NDA for ulixacaltamide in 2025 and is progressing with Elsunersen for SCN2A GoF DEEs.
Praxis Precision Medicines, Inc. will release its first quarter 2024 financial results on May 13, 2024. The company focuses on developing therapies for CNS disorders related to neuronal excitation-inhibition imbalance.
Praxis Precision Medicines, Inc. announced the granting of non-qualified stock options and restricted stock units to six new non-executive employees under the 2024 Inducement Plan. The options have an exercise price of $55.16 per share and will vest over four years, while the restricted stock units will vest in four equal annual installments. This move aims to attract and retain top talent for the company.
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