Praxis posts Q2 net loss $34.3M, plans ulixacaltamide Phase 3 after FDA meeting

Praxis Precision Medicines, Inc.

Q2 net loss $34.3M, cash $124.3M; cash runway into Q1 2025 from June offering net $63.4M.
Ulixacaltamide: FDA EOP2 meeting confirms Phase 3 plan; two studies starting Q4 2023, mADL11 primary endpoint, 60 mg, 12 weeks.
PRAX-628 Phase 1 EEG showed pharmacodynamic activity at all doses; Phase 2 PPR study topline H2 2023; focal epilepsy Phase 2 H1 2024.
Net loss $34.3M in Q2 2023 vs $60.2M in Q2 2022; R&D expenses $25.6M down from $43.6M.
R&D Portfolio Day on Oct 2, 2023 to detail Phase 3 program for ulixacaltamide and additional Essential1 data.

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Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Praxis Precision Medicines, Inc. reported financial results for second quarter 2023.

Period: second quarter 2023
Result: reported results

Exact text from the filing

Praxis Precision Medicines, Inc. (the "Company") announced its financial results for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001689548-23-000126

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