Praxis Q1 net loss $39.6M; cash $451.2M, positive PRAX-628 data; Essential3 topline H2 2024

Praxis Precision Medicines, Inc.

2024-Q1 EPS reported -$2.84 revenue$431,000

Net loss $39.6M in Q1 2024 vs $37.5M a year ago; R&D expense $27.0M, G&A $15.3M.
Cash $451.2M at April 30, 2024, from two public offerings ($161.6M Jan, $215.8M Apr); runway into 2027.
PRAX-628 Phase 2a PPR study: 100% response; 80% complete at 15mg, 100% at 45mg; focal onset seizure studies start H2 2024 and H1 2025.
Ulixacaltamide Essential3 trial: >50K pre-screening forms, >7K referrals; topline H2 2024 to support NDA in 2025.
PRAX-562 EMBOLD study in pediatric DEEs: randomization completed; topline results expected Q3 2024.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Praxis Precision Medicines, Inc. reported the first quarter 2024 results: net income $39.6 million.

Period: the first quarter 2024
Net income: $39.6 million
Result: reported results

Exact text from the filing

Praxis Precision Medicines, Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001689548-24-000058

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