Praxis CCO Nicole Sweeny departs; cash runway extended to Q2 2024 via restructuring

Praxis Precision Medicines, Inc.

Nicole Sweeny, Chief Commercial Officer, to depart effective March 31, 2023; no dispute or disagreement cited.
Separation agreement provides 9 months base salary ($337,500) plus COBRA premium subsidy.
Company refocuses on ulixacaltamide end-of-Phase-2 FDA meeting, PRAX-562 and PRAX-222 readouts.
Realigned expenses and headcount expected to extend cash runway into Q2 2024.

item 5.02 item 8.01 item 9.01

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Departed

Nicole Sweeny

Chief Commercial Officer

PRAX · Praxis Precision Medicines, Inc.

Effective: 2023-03-31
Filed: March 21, 2023, 7:59 PM ET

On March 17, 2023, Nicole Sweeny, Chief Commercial Officer of Praxis Precision Medicines, Inc. (the “Company”), and the Company determined that, considering the current priorities of the Company, Ms. Sweeny would depart from the Company, effective March 31, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Nicole Sweeny departed as Chief Commercial Officer at Praxis Precision Medicines, Inc..

Action: departed
Role: Chief Commercial Officer

Exact text from the filing

On March 17, 2023, Nicole Sweeny, Chief Commercial Officer of Praxis Precision Medicines, Inc. (the “Company”), and the Company determined that, considering the current priorities of the Company, Ms. Sweeny would depart from the Company, effective March 31, 2023.

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Praxis Precision Medicines, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-035170

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