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.
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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