Praxis Q3 net loss $24.6M; starts Essential3 Phase 3 for ulixacaltamide

Praxis Precision Medicines, Inc.

2023-Q3 EPS reported -$1.12 revenue$1,932,000

Cash $101.1M as of Sep 30, 2023, providing runway into Q1 2025.
Initiated Essential3 Phase 3 program for ulixacaltamide in essential tremor; enrollment expected H1 2024.
Completed Part 1 dosing of EMBRAVE study for elsunersen in SCN2A-DEE; seeking FDA guidance.
R&D expenses $17.3M (down from $30.4M YoY); net loss $24.6M (down from $43.9M YoY).
Expects topline results from PRAX-628 Phase 2a PPR study in Q4 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Praxis Precision Medicines, Inc. reported the three months ended September 30, 2023 results: revenue $0.5 million, net income net loss of $24.6 million.

Period: the three months ended September 30, 2023
Revenue: $0.5 million
Net income: net loss of $24.6 million
Result: reported results

Exact text from the filing

offerings of shares of Praxis’ common stock, partially offset by cash used in operations of $87.3 million during the nine months ended September 30, 2023. Praxis recognized $0.5 million in collaboration revenue during the three months ended September 30, 2023, related to its Option and License Agreement with UCB. Research and development expenses were $17.3

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Source: SEC EDGAR

accession 0001689548-23-000157

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