Welcome to our dedicated page for Praxis Precision Medicines news (Ticker: PRAX), a resource for investors and traders seeking the latest updates and insights on Praxis Precision Medicines stock.
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.
News
Rhea-AI Summary
Praxis Precision Medicines, Inc. granted non-qualified stock options and restricted stock units to a new non-executive employee under the 2024 Inducement Plan. The options have an exercise price of $58.60 per share and will vest over four years, while the restricted stock units will vest in four equal annual installments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.62%
Tags
-
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced the pricing of its underwritten public offering, raising approximately $200 million. The offering includes 3,318,585 shares of common stock and pre-funded warrants. Praxis granted underwriters an option for additional shares, with the closing expected soon.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.07%
Tags
-
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced a proposed public offering of common stock and prefunded warrants to certain investors. The offering, managed by Piper Sandler, Guggenheim Securities, and Truist Securities, includes an option for underwriters to purchase additional shares. The offering is subject to market conditions and regulatory approvals.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.07%
Tags
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) reports positive results from Phase 2a study of PRAX-628 in epilepsy patients with PPR, showing high complete response rates in both 15mg and 45mg cohorts. Safety profile remains favorable, paving the way for an efficacy study in focal onset epilepsy in the second half of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
23.13%
Tags
-
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) will host a virtual program update to discuss its PRAX-628 program in epilepsy on March 26, 2024. The event will feature key opinion leader Dr. Daniel Friedman, Professor of Neurology at NYU Grossman School of Medicine.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
23.13%
Tags
-
Rhea-AI Summary
Praxis Precision Medicines, Inc. reports strong progress in various clinical studies for CNS disorders, including essential tremor and epilepsy. They have received over 3,000 referrals for ulixacaltamide Phase 3 studies and expect topline results by 2024. The PRAX-628 study in epilepsy patients showed promising preliminary results. Additionally, the EMBRAVE study of elsunersen demonstrated a 43% median reduction in seizures and received PRIME designation from the EMA. Praxis also announced a licensing partnership with Tenacia Biotechnology for ulixacaltamide development in Greater China.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.88%
Tags
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) will participate in the TD Cowen 44th Annual Health Care Conference in Boston from March 4 – 6, 2024. The company will engage in one-on-one investor meetings and a corporate panel discussion on orphan epilepsies. The webcast of the panel discussion will be available on the company's website for 90 days post-event.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.9%
Tags
-
News
Rhea-AI Summary
Praxis Precision Medicines, Inc. (PRAX) granted non-qualified stock options and restricted stock units to new non-executive employees under the 2024 Inducement Plan. The options have an exercise price of $43.73 per share and will vest over four years, while the restricted stock units will vest in four equal annual installments.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.17%
Tags
-
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced the pricing of its underwritten public offering of 3,168,275 shares of its common stock at a public offering price per share of $35.50, with expected gross proceeds of approximately $150.0 million. The offering also includes pre-funded warrants to purchase up to an aggregate of 1,056,725 shares of common stock at a purchase price of $35.4999 per pre-funded warrant. The underwriters have been granted a 30-day option to purchase up to 633,750 additional shares of common stock at the public offering price.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.66%
Tags
Rhea-AI Summary
Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced a proposed public offering of its common stock and prefunded warrants to purchase shares of common stock. The offering, subject to market conditions, is being made pursuant to a shelf registration statement filed with the SEC. The final terms will be disclosed in a final prospectus supplement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.66%
Tags
FAQ
What is the current stock price of Praxis Precision Medicines (PRAX)?
The current stock price of Praxis Precision Medicines (PRAX) is $76.52 as of December 20, 2024.
What is the market cap of Praxis Precision Medicines (PRAX)?
The market cap of Praxis Precision Medicines (PRAX) is approximately 1.4B.
What does Praxis Precision Medicines, Inc. specialize in?
Praxis specializes in developing therapies for CNS disorders characterized by neuronal imbalance, leveraging genetic insights for innovative treatments.
What are the primary product candidates of Praxis?
Praxis' key product candidates include Prax-114, Prax-944, Prax-562, Prax-222 (Elsunersen), PRAX-628, and Ulixacaltamide.
What is the status of Prax-114?
Prax-114 is in Phase IIa clinical trials for the treatment of major depressive disorder and perimenopausal depression.
How is Praxis advancing its epilepsy treatments?
Praxis is developing PRAX-562 and PRAX-628, with the latter showing strong potential as a best-in-class focal epilepsy treatment.
What are recent corporate milestones for Praxis?
Recent milestones include strategic partnerships, ongoing clinical trials, and financial progress ensuring operations funding into 2027.
Can you provide financial details on Praxis' operations?
As of the latest reports, Praxis has $243.3 million in cash, cash equivalents, and marketable securities, with funding expected to last into 2027.
How can I stay updated on Praxis' developments?
Visit https://www.praxismedicines.com and follow them on Facebook, LinkedIn, and Twitter/X for the latest updates.
What partnerships has Praxis recently announced?
Praxis recently partnered with Tenacia to extend ulixacaltamide's reach to Greater China and continues collaborations with Ionis Pharmaceuticals and RogCon, Inc.
What is Ulixacaltamide, and what is its current development stage?
Ulixacaltamide is a selective small molecule inhibitor for essential tremor, currently in late-stage development.
Where can I find more information about Praxis' clinical studies?
You can learn more about Praxis' clinical studies on their official website, www.praxismedicines.com, and specific study sites like www.praxisessentialtremor.com.
Praxis Precision Medicines, Inc.
Nasdaq:PRAX
PRAX Rankings
PRAX Stock Data
1.37B
17.35M
0.25%
103.96%
8.2%
Biotechnology
Pharmaceutical Preparations
United States of America
BOSTON