Praxis Precision Medicines, Inc.
- Open
- 312.53
- Day high
- 319.49
- Day low
- 308.24
- Prev close
- 324.99
- Volume
- 235K
- Mkt cap
- $8.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.2
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.6M over the last 3 months (0 open-market buys, 12 sales)
- 🏛Institutions accumulating (13F)
Praxis Precision Medicines, Inc. (PRAX) is a Healthcare company listed on NASDAQ. The stock is up 543% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 12 sales (SEC Form 4).
Praxis Precision Medicines, Inc. (PRAX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRAX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-3.58 | $-3.20 | +10.6% | — | — |
| Feb 19, 2026 | $-3.00 | $-3.50 | -16.7% | — | — |
| Nov 5, 2025 | $-3.45 | $-3.36 | +2.6% | — | — |
| May 2, 2025 | $-3.20 | $-3.29 | -2.8% | — | — |
| Feb 28, 2025 | $-2.76 | $-2.94 | -6.5% | $7M | +2405.4% |
| Aug 13, 2024 | $-2.38 | $-1.74 | +26.9% | $357000 | -57.0% |
| Mar 5, 2024 | $-3.15 | $-2.97 | +5.7% | $515000 | +930.0% |
| May 11, 2023 | $-11.24 | $-10.64 | +5.3% | $683000 | — |
| Feb 7, 2023 | $-10.94 | $-13.04 | -19.2% | — | — |
| Nov 9, 2022 | $-13.79 | $-14.39 | -4.4% | — | — |
| Feb 28, 2022 | $-16.19 | $-19.49 | -20.4% | — | — |
| Nov 3, 2021 | $-13.94 | $-14.99 | -7.5% | — | — |
PRAX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 26, 2026 | DeSimone Jilldirector | Option | 8,566 | $44.25 |
| Jun 26, 2026 | DeSimone Jilldirector | Option | 3,034 | $147.30 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 10 | $301.44 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 120 | $303.13 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 320 | $305.31 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 683 | $306.77 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 1,240 | $308.24 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 999 | $309.38 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 1,750 | $310.89 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 2,854 | $311.91 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 1,004 | $312.83 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 504 | $313.66 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 1,279 | $314.90 |
| Jun 26, 2026 | DeSimone Jilldirector | Sell | 837 | $315.70 |
| Jun 12, 2026 | KINDLER JEFFREY Bdirector | Grant | 648 | $240.66 |
Source: PRAX SEC Form 4 filings, latest Jun 26, 2026. For informational purposes only — not investment advice.
See the full PRAX insider & 13F page →Praxis Precision Medicines, Inc. company profile
Overview
Praxis Precision Medicines, Inc. (NASDAQ:PRAX) is a clinical-stage biopharmaceutical company founded in 2015 and based in Boston, Massachusetts. The company went public in October 2020 and specializes in developing precision therapies for central nervous system disorders characterized by neuronal imbalance. Praxis focuses on genetically-defined patient populations and employs a precision medicine approach to address conditions including essential tremor, epilepsy, and depression. The company currently operates multiple clinical programs across various stages of development, with several candidates approaching potential regulatory submissions.
Business
Praxis operates in the biotechnology sector, specifically focusing on central nervous system (CNS) disorders where there is an imbalance in neuronal activity. The CNS encompasses the brain and spinal cord, and disorders in this system can manifest as conditions like epilepsy, tremors, depression, and other neurological conditions that significantly impact patients' quality of life. The company's approach centers on precision medicine, which means developing treatments tailored to specific genetic profiles or biological mechanisms rather than broad-spectrum therapies. This strategy allows for more targeted and potentially more effective treatments for patients with specific genetic variants or disease characteristics. Praxis has four main therapeutic programs: 1. Ulixacaltamide (PRAX-944) for essential tremor represents approximately 40-50% of the company's focus based on development stage and resource allocation. Essential tremor is a neurological disorder causing involuntary shaking, typically in the hands, that affects daily activities like writing or drinking. Current treatments are often inadequate, with 77% of patients reporting dissatisfaction with existing therapies. 2. Relutrigine (PRAX-562) for developmental and epileptic encephalopathies (DEEs) accounts for roughly 30-35% of development efforts. DEEs are severe forms of childhood epilepsy that combine frequent seizures with developmental delays. These conditions are often caused by genetic mutations and can be devastating for families. 3. Vormatrigine for broader epilepsy indications represents about 15-20% of current programs. This candidate targets both generalized and focal epilepsy, potentially expanding the addressable patient population significantly. 4. Elsunersen (PRAX-222) is an antisense oligonucleotide therapy for patients with specific genetic mutations (SCN2A gain-of-function epilepsy), representing the remaining 5-10% of development focus. This represents a gene therapy approach targeting the underlying genetic cause of certain epilepsies.
Revenue model
Praxis operates under a traditional biopharmaceutical business model where revenue will eventually come from product sales of approved medications to patients through healthcare systems, hospitals, and specialty pharmacies. Currently, the company generates minimal revenue (under $10 million annually) primarily from licensing agreements and research collaborations with partners like Ionis Pharmaceuticals and RogCon Inc. The company's future paying customers will be healthcare payers including insurance companies, government programs (Medicare/Medicaid), and international health systems that reimburse for prescription medications. Given the precision medicine approach targeting genetically-defined populations, Praxis will likely pursue premium pricing strategies typical of specialty pharmaceuticals, potentially ranging from $50,000 to $200,000+ annually per patient depending on the indication. Several factors could significantly impact the company's future margins and profitability. Positive margin drivers include the high unmet medical need in CNS disorders which supports premium pricing, the precision medicine approach that can justify higher costs through better outcomes, and the relatively small patient populations that may face less pricing pressure. The company's focus on rare genetic epilepsies particularly supports higher pricing given the severe nature of these conditions and lack of effective alternatives. Negative margin pressures include the high cost of CNS drug development due to complex clinical trial designs and regulatory requirements, increasing scrutiny on pharmaceutical pricing especially for neurological drugs, and potential competition from larger pharmaceutical companies with more resources. Manufacturing costs for precision medicines, particularly antisense oligonucleotides like Elsunersen, tend to be higher than traditional small molecules. Additionally, the small patient populations, while supporting higher prices, also limit total revenue potential and may not support the same economies of scale as larger market drugs.
Competitive moat
Praxis possesses a moderate but developing competitive moat primarily built around its precision medicine approach and genetic expertise in CNS disorders. The company's strongest defensive position lies in its scientific and regulatory knowledge accumulated through years of clinical development in genetically-defined neurological conditions. This expertise creates barriers for new entrants who would need to replicate years of research and regulatory interactions. The company's intellectual property portfolio and licensing agreements provide some protection, particularly for its antisense oligonucleotide platform developed with Ionis Pharmaceuticals. However, this moat is not impenetrable as the underlying technologies and approaches could potentially be developed by well-funded competitors. Regulatory advantages represent another component of the moat. Praxis has built relationships with regulatory agencies and accumulated clinical data that would be difficult for competitors to replicate quickly. The company's focus on rare genetic epilepsies also benefits from orphan drug designations that provide market exclusivity periods. However, the moat faces significant challenges. Large pharmaceutical companies with substantially greater resources could potentially develop competing therapies or acquire smaller competitors. Companies like Biogen, Roche, and Novartis have strong CNS portfolios and the financial capacity to compete directly. Academic medical centers and other biotech companies are also actively researching similar genetic approaches to neurological disorders. The precision medicine field is rapidly evolving, and technological disruption from advances in gene therapy, digital therapeutics, or novel drug delivery systems could potentially bypass Praxis's current approaches. Additionally, the company's reliance on specific genetic targets means that if alternative biological pathways prove more effective, the competitive advantage could erode quickly.
Risks & safety
Praxis exhibits a strong financial safety profile typical of well-funded clinical-stage biotechnology companies, though with the inherent risks of drug development. • Cash position: $165.6 million in cash and short-term investments as of Q1 2025, providing runway into 2027 • Debt levels: Minimal debt with debt-to-equity ratio of 0.002, indicating very low financial leverage • Liquidity: Current ratio of 8.4x and quick ratio of 8.4x demonstrate excellent short-term liquidity • Cash burn: Quarterly operating cash flow of -$53 million in Q1 2025, suggesting approximately 3+ years of runway at current burn rate • Valuation concerns: Trading at negative P/E ratios due to losses, though this is typical for clinical-stage biotech • Enterprise value: Negative EV/EBITDA of -2.1x reflects the cash-rich balance sheet • Book value: Price-to-book ratio of 1.8x suggests reasonable valuation relative to net assets • Clinical risks: Multiple ongoing Phase 2/3 trials with binary outcomes that could significantly impact valuation • Regulatory uncertainty: Dependence on FDA approvals creates substantial execution risk • Market competition: Well-funded competitors in CNS space pose strategic threats
Recent development
Over the past few years, Praxis has executed a focused strategy of advancing its precision medicine pipeline toward potential commercialization. The company's most significant development has been the progression of ulixacaltamide for essential tremor into Phase 3 trials (Essential3 studies), with interim analysis results expected in Q1 2025 and potential NDA submission planned for 2025. This represents the company's most advanced program and nearest-term commercial opportunity. In the epilepsy portfolio, Praxis achieved important clinical milestones with relutrigine showing impressive efficacy in the Phase 2 EMBOLD trial, demonstrating a 46% reduction in motor seizures with 33% of patients achieving seizure-free status. The company has expanded this program by initiating a second cohort with 80 patients and exploring broader developmental and epileptic encephalopathy (DEE) indications, recognizing the significant commercial potential in this underserved patient population. The company launched its ENERGY clinical program for vormatrigine, including the RADIANT study targeting both generalized and focal epilepsy patients. This represents a strategic expansion beyond the company's initial focus on rare genetic epilepsies toward broader epilepsy populations, potentially significantly expanding the addressable market. Financial strengthening has been a key strategic accomplishment, with the company raising substantial capital that increased its cash position from $81.3 million at the end of 2023 to over $400 million, extending its runway into 2027 and providing the resources to fund multiple programs simultaneously. Praxis has also advanced its gene therapy capabilities through the elsunersen program for SCN2A epilepsy, conducting studies in Brazil while preparing for global registration studies. The company has strengthened its partnership ecosystem through collaborations with Ionis Pharmaceuticals for antisense oligonucleotide development and The Florey Institute for additional ASO programs.
PRAX company profile · for informational purposes only — not investment advice.
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