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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) announced its participation in the Wedbush PacGrow Healthcare Virtual Conference on August 10, 2022, at 12:35 p.m. ET. The panel, titled “Got My Mind Set On You – Advancing Novel Epilepsy Targets,” will focus on therapies addressing central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance. Interested parties can access the live webcast via the company’s website, where a replay will be available for 30 days post-event. Praxis is committed to developing innovative solutions for various CNS disorders.
Praxis Precision Medicines announced that the Phase 2/3 Aria Study for PRAX-114 in treating major depressive disorder did not achieve statistical significance on its primary endpoint. Despite well-tolerated results, the study's failure is disappointing for the company. In response, Praxis will refocus resources on its Movement Disorders and Epilepsy franchises, extending its cash runway into 2024. The company plans to prioritize Phase 2b results for PRAX-944 and proof-of-concept for PRAX-562.
Praxis Precision Medicines (NASDAQ: PRAX) has appointed Jill DeSimone to its board of directors, enhancing its leadership with her extensive experience in oncology and pharmaceuticals. DeSimone previously served as President of U.S. Oncology at Merck & Co. and has a notable background at other leading firms like Teva and Bristol Myers Squibb. Her expertise in product launches and patient care aligns with Praxis's mission to develop therapies for CNS disorders. The company is optimistic about leveraging her insights during a pivotal time for its growth and product development.
Praxis Precision Medicines (NASDAQ: PRAX) has announced its participation in two upcoming investor conferences. The first is the Citi Biotech Virtual Co-Panel Day on May 18, 2022, featuring panels on 'Mood Disorders/Mental Health' at 11:00 a.m. ET and 'Movement Disorders/Epilepsy' at 3:30 p.m. ET. The second is the H.C. Wainwright Global Investment Conference, where a company presentation will be available on May 24, 2022, at 7:00 a.m. ET. Webcasts of these events can be accessed on their website, with replays available for 90 days.
Praxis Precision Medicines (NASDAQ: PRAX) provided a corporate update on May 9, 2022, highlighting positive results from its Phase 2a study of PRAX-944 for essential tremor. The drug showed a 42% mean improvement in the Modified Activities of Daily Living score. The PRAX-114 Aria Study for Major Depressive Disorder is also complete, with topline results expected in June 2022. The company reported a cash balance of $222.5 million as of March 31, 2022, a decrease from $275.9 million, and a net loss of $68.7 million in Q1 2022.
PRAX-944 has shown promising results in the Phase 2a study for treating essential tremor (ET). A mean improvement of 42% in the Modified Activities of Daily Living score was observed by Day 42, with a significant distinction during the randomized withdrawal phase. The treatment was well-tolerated with no new safety findings. Following these results, Praxis intends to update the primary endpoint for the Phase 2b Essential1 study to focus on efficacy, indicating progress towards a potential treatment for ET patients.
Praxis Precision Medicines (NASDAQ: PRAX) announced participation in a fireside chat at the BofA Securities 2022 Healthcare Conference on May 11, 2022, at 5:00 p.m. ET. The event will be accessible via 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 disorders linked to neuronal excitation-inhibition imbalance, leveraging genetic insights. The company has multiple clinical-stage product candidates addressing psychiatric and movement disorders, and epilepsy.
Praxis Precision Medicines (NASDAQ: PRAX) announced a corporate update and financial results for Q1 2022 set for May 9, 2022, post-market close. The management will share a video highlighting business and pipeline progress, followed by a live Q&A at 4:30 p.m. ET. Praxis is focused on developing therapies for CNS disorders linked to neuronal imbalances and boasts a broad portfolio, including multiple clinical-stage product candidates addressing various neurological and psychiatric disorders. For more, visit Praxis Medicines.
Praxis Precision Medicines hosted its 2022 Epilepsy Day in New York City, showcasing its advancements in treating CNS disorders. CEO Marcio Souza highlighted their innovative approaches and significant progress across three major epilepsy programs: PRAX-222, PRAX-562, and PRAX-628, all expected to reach clinical stages by the end of 2022. The company aims to address unmet needs in epilepsy management with targeted therapies. This event emphasized Praxis' multi-billion-dollar market opportunity in the epilepsy sector, reflecting its commitment to rapid drug development driven by genetic insights.
Praxis Precision Medicines (NASDAQ: PRAX) has announced an upcoming Epilepsy Day on April 27, 2022, from 8:30 a.m. to 11:30 a.m. ET, held virtually and in New York City. This event will highlight the company's extensive epilepsy pipeline, the largest in the industry, and discuss clinical and regulatory strategies. Key opinion leaders like Dr. Jacqueline French and Dr. Daniel Friedman will share insights on advancements in epilepsy and unmet patient needs. A live webcast will be available on their website, with a replay accessible for 90 days.
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