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The primary endpoint was the change from baseline in the total score of the 17-item Hamilton Depression Rating Scale (HAM-D17).
The scale measures the frequency and intensity of depressive symptoms in individuals with major depressive disorder.
Praxis said it will prioritize programs in movement disorders and epilepsy moving forward.
The strategic realignment will result in a reduction of the company's workforce and future operating expenses. As a result of the realignment, the company's cash runway will extend into 2024.
The strategic alignment will focus on delivering Phase 2b results for PRAX-944 in essential tremor and proof-of-concept for PRAX-562 in epilepsy and advancing the pre-clinical pipeline.
Price Action: PRAX shares traded 65.1% lower at $3 premarket on the last check Monday.
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