Praxis: FY2023 net loss $123.3M; cash $247.6M; ulixacaltamide Phase 3 on track, PRAX-628 topline expected 1Q24

Praxis Precision Medicines, Inc.

Cash and equivalents $247.6M as of Feb 29, 2024, funded by $161.7M January 2024 follow-on; runway into 2026.
FY2023 net loss $123.3M vs $214.0M in 2022; R&D expenses fell to $86.8M from $155.0M.
Essential3 Phase 3 program for ulixacaltamide (ET) has >3,000 pre-qualified referrals; enrollment due 1H24, topline 2H24.
PRAX-628 PPR study 15 mg cohort exceeded expectations; topline data expected Q1 2024; Phase 2b plan in 2H24.
Elsunersen (PRAX-222): 43% median seizure reduction in EMBRAVE Part 1; EMA PRIME designation for SCN2A DEE.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Praxis Precision Medicines, Inc. reported financial results for fourth quarter and full-year 2023.

Period: fourth quarter and full-year 2023
Result: reported results

Exact text from the filing

On March 5, 2024, Praxis Precision Medicines, Inc. (the “Company”) announced its financial results for the quarter and full year ended December 31, 2023.

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Praxis Precision Medicines, Inc. filing history →

Source: SEC EDGAR

accession 0001689548-24-000035

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