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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 data from its PRAX-944 essential tremor (ET) program will be showcased at the 2022 American Academy of Neurology Annual Meeting in Seattle from April 2-7, and virtually from April 24-26. Chief Medical Officer Bernard Ravina highlighted the need for better therapeutic options for ET, as current treatments often have poor tolerability. PRAX-944, a T-type calcium channel blocker, has shown promise in reducing tremor symptoms with acceptable safety profiles. The oral presentation is scheduled for April 6 at 5:06 PM PT.
Praxis Precision Medicines (NASDAQ: PRAX) announced its participation in a fireside chat at Stifel’s 4th Annual CNS Day on March 29, 2022, at 11:30 a.m. ET. The event will be accessible through 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 disorders by leveraging genetic insights into neuronal excitation-inhibition imbalances, targeting both rare and prevalent neurological and psychiatric conditions. For more details, visit www.praxismedicines.com.
Praxis Precision Medicines (NASDAQ: PRAX) will participate in the Neuropsych panel at Cowen’s 42nd Annual Healthcare Conference on March 7, 2022, at 9:10 a.m. ET. The event will be accessible via live webcast on the company's website, with a replay available for 30 days post-event. Praxis focuses on developing therapies for CNS disorders using genetic insights, addressing conditions such as epilepsy, psychiatric, and movement disorders. They currently have three clinical-stage product candidates.
Praxis Precision Medicines (NASDAQ: PRAX) provided a corporate update and reported financial results for Q4 and full year 2021. The company expects topline results for PRAX-114 Phase 2/3 Aria Study for Major Depressive Disorder in June 2022. As of December 31, 2021, Praxis had $275.9 million in cash, funding operations into Q2 2023. R&D expenses rose to $120.3 million for 2021, up from $45 million in 2020. Net loss for 2021 was $167.1 million, compared to $61.8 million the previous year. Upcoming milestones include multiple study results for psychiatric and movement disorders.
Praxis Precision Medicines (NASDAQ: PRAX) announced on February 22, 2022, that it will release its fourth quarter and full year 2021 financial results on February 28, 2022, prior to U.S. market opening. The company will provide a corporate update and report on recent business and pipeline advancements through a video presentation. Afterward, a live Q&A session will be held at 8:30 a.m. ET. Praxis focuses on developing therapies for CNS disorders linked to neuronal excitation-inhibition imbalance, with three clinical-stage product candidates.
Praxis Precision Medicines (NASDAQ: PRAX) announced positive results from a preclinical study of PRAX-562, a new sodium channel blocker targeting rare Developmental and Epileptic Encephalopathies (DEEs). The study showed robust antiseizure activity and improved tolerability compared to existing therapies. Praxis plans to initiate a Phase 2 trial in Q1 2022 for treating DEEs, supported by favorable data presented at the American Epilepsy Society Annual Meeting. PRAX-562 has received Orphan Drug Designation from the FDA, indicating its potential as a viable treatment for epilepsy.
Praxis Precision Medicines (NASDAQ: PRAX) will host a Movement Disorder Day on December 17, 2021, from 9:00 a.m. to 12:00 p.m. ET, both virtually and in New York City. The event will provide insights into the company’s Movement Disorder franchise, highlighting the Essential Tremor market and development plans for PRAX-944 and PRAX-114. Additionally, updates on the upcoming clinical study for PRAX-944 in Parkinson’s disease will be discussed. Webcast access will be available through the company's website, with a replay for 90 days.
Praxis Precision Medicines has appointed Megan Sniecinski as its new chief business officer, enhancing its executive leadership team. Promoting Alyssa Wyant to chief regulatory and quality officer and Karl Hansen, Ph.D. to chief technical operations officer reflects the company’s commitment to advancing its clinical-stage programs targeting central nervous system disorders. Sniecinski, with extensive experience in corporate development from her previous roles at BioCryst Pharmaceuticals and Merck, is expected to drive operational excellence and innovation within the company.
Praxis Precision Medicines (NASDAQ: PRAX) announced upcoming presentations at the American Epilepsy Society 2021 Annual Meeting from December 3-7, 2021. They will showcase data from rare disease programs, including PRAX-562, a sodium channel blocker, and a KCNT1 inhibitor. Presenters include senior scientists discussing the efficacy and potency of these treatments. Praxis also emphasizes their broad pipeline for rare epilepsies and ongoing collaborations to explore genetic influences on CNS disorders.
Praxis Precision Medicines (NASDAQ: PRAX) announced its participation in a fireside chat at Piper Sandler’s 33rd Annual Virtual Healthcare Conference on December 2, 2021, at 10:30 a.m. ET. The event will be available via live webcast on the company’s website, with a replay accessible for 90 days thereafter. Praxis focuses on developing therapies for central nervous system (CNS) disorders, leveraging genetic insights to address neurological and psychiatric conditions, and has three clinical-stage candidates in its portfolio.
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