Praxis Essential3 interim analysis recommends futility; studies continue to Q3 2025

Praxis Precision Medicines, Inc.

IDMC recommended stopping Essential3 Study 1 for futility; Praxis continues both studies to completion.
Topline results for Essential3 now expected Q3 2025; NDA decision after final data.
Cash, equivalents and marketable securities of $469.5M as of Dec 31, 2024, up from $81.3M.
Net loss for Q4 2024 was $58.7M vs. $26.9M in Q4 2023; R&D spend rose to $56.3M from $18.4M.
UCB exercised option to in-license KCNT1 candidate; Praxis eligible for up to ~$100M in milestones plus royalties.

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