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 (NASDAQ: PRAX) announced its presentations at the American Academy of Neurology (AAN) 2023 Annual Meeting, scheduled from April 22-27 in Boston. The company aims to discuss significant advances in its clinical programs focused on central nervous system disorders. Noteworthy highlights include the release of topline results from the ulixacaltamide Essential1 Phase 2 study in essential tremor and upcoming patient doses for the PRAX-222 EMBRAVE and PRAX-562 EMBOLD studies. The presentations will cover key topics such as the challenges of SCN2A and SCN8A-related disorders. These updates underscore Praxis' commitment to developing innovative therapies for CNS conditions.
Praxis Precision Medicines (NASDAQ: PRAX) has scheduled an end-of-phase 2 meeting with the FDA for ulixacaltamide, aimed at treating Essential Tremor (ET), in June 2023. The company will also present key findings from its Essential1 trial at various medical conferences, including the 75th Annual AAN on April 23, 2023, and the World Congress on Parkinson’s Disease on May 15, 2023. Ulixacaltamide is a selective T-type calcium channel blocker designed to mitigate tremor activity, a common neurological disorder affecting roughly seven million people in the U.S. The current pharmacotherapy options are limited, underscoring the need for effective treatments, which may position ulixacaltamide favorably in the market.
Praxis Precision Medicines (NASDAQ: PRAX) has announced that management will present at the 22nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 12:45 p.m. ET. The presentation will be accessible via a live webcast on the company's website, with a replay available for 90 days post-event.
Praxis focuses on developing therapies for central nervous system (CNS) disorders that stem from neuronal excitation-inhibition imbalances. The company utilizes its proprietary platforms, Cerebrum™ and Solidus™, to leverage genetic insights for creating therapies for rare and prevalent neurological conditions. With a diverse portfolio, Praxis has multiple clinical-stage product candidates targeting movement disorders and epilepsy.
BOSTON, March 3, 2023 (GLOBE NEWSWIRE) -- Praxis Precision Medicines (NASDAQ: PRAX), focused on CNS disorders, will participate in key investor conferences. They will take part in the 43rd Annual TD Cowen Health Care Conference on March 6, 2023, featuring a panel on orphan epilepsies at 12:50 p.m. ET. Additionally, Praxis will join the Needham Neuroscience Forum for a fireside chat on March 15, 2023, at 2:00 p.m. ET. Both events will be accessible via live webcast on their website, with replays available for 30 days post-event. Praxis is advancing therapies for neurological disorders using its proprietary platforms.
Praxis Precision Medicines (NASDAQ: PRAX) announced topline results from the Phase 2b Essential1 study of ulixacaltamide for treating essential tremor. The primary endpoint of improvement in modified Activities of Daily Living (mADL) did not reach statistical significance (p=0.126), but a secondary endpoint, the TETRAS-ADL, showed nominal significance (p=0.026). The drug was well tolerated, with no new safety findings reported. Praxis plans to engage with the FDA for an end-of-Phase 2 meeting and initiate a Phase 3 study in 2H23, as the unmet need for effective therapies for essential tremor persists.
Praxis Precision Medicines (NASDAQ: PRAX) provided a corporate update and financial results for Q4 and full year 2022, highlighting a transformative 2023 ahead with topline results from the ulixacaltamide Essential1 study expected in 1Q23. The company reported cash and investments of $100.5 million as of December 31, 2022, which funds operations into 1Q24. R&D expenses increased to $155 million in 2022, with net losses of $214 million.
Key milestones for 2023 include results from their clinical programs, including PRAX-562 and PRAX-628. A strategic collaboration with UCB could yield up to $100 million in milestone payments for the KCNT1 program.
Praxis Precision Medicines (NASDAQ: PRAX) has announced a strategic collaboration with UCB focused on developing small molecule therapeutics for KCNT1 related epilepsies, which currently have no approved treatments. The partnership will allow Praxis to leverage UCB's experience in epilepsy drug development. Praxis will receive an upfront payment and could earn up to approximately $100 million in milestone payments, along with royalties from any resulting products. This collaboration underscores Praxis' commitment to advancing treatments for genetic epilepsy disorders.
FAQ
What is the current stock price of Praxis Precision Medicines (PRAX)?
What is the market cap of Praxis Precision Medicines (PRAX)?
What does Praxis Precision Medicines, Inc. specialize in?
What are the primary product candidates of Praxis?
What is the status of Prax-114?
How is Praxis advancing its epilepsy treatments?
What are recent corporate milestones for Praxis?
Can you provide financial details on Praxis' operations?
How can I stay updated on Praxis' developments?
What partnerships has Praxis recently announced?
What is Ulixacaltamide, and what is its current development stage?