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Praxis Precision Medicines, Inc. (PRAX)

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20.51-1.01 (-4.69%)
At close: 4:00PM EDT
20.55 +0.04 (0.20%)
After hours: 04:16PM EDT
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Neutralpattern detected
Previous Close21.52
Open21.73
Bid20.00 x 1400
Ask20.52 x 1000
Day's Range19.84 - 22.71
52 Week Range17.68 - 60.95
Volume391,032
Avg. Volume405,525
Market Cap792.23M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est63.33
  • Praxis Precision Medicines Appoints Tim Kelly as Chief Financial Officer
    GlobeNewswire

    Praxis Precision Medicines Appoints Tim Kelly as Chief Financial Officer

    CAMBRIDGE, Mass., May 25, 2021 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance, today announced the appointment of Tim Kelly as chief financial officer, effective immediately. Mr. Kelly joins Praxis from Foundation Medicine, where he served as chief financial officer and head of corporate management. “Tim’s diverse background and leadership experience in finance, strategy and business operations roles make him an ideal chief financial officer for Praxis and our needs moving forward,” said Marcio Souza, president and chief executive officer of Praxis. “Praxis is well capitalized following the recently completed equity financing, and Tim’s stewardship will ensure that that we remain prudent and strategic as our pipeline continues to progress and expand.” Mr. Kelly added, “This is an exciting time to be joining Praxis, with an incredibly deep pipeline of CNS drug candidates, a wealth of upcoming milestones and the capital needed to execute on the company’s strategic objectives. I look forward to working closely with the team to help Praxis achieve its strategic and financial goals.” Mr. Kelly brings more than 20 years of experience in the life sciences, pharmaceutical and biotechnology industries. Most recently, Mr. Kelly was the chief financial officer and head of corporate management at Foundation Medicine, having served in this role since 2019. In this position, he led the finance and corporate management teams, providing strategic leadership and oversight for the corporate functions, which included accounting and tax, billing and reimbursement, corporate development, project management and financial planning and analysis. Prior to working at Foundation Medicine, Mr. Kelly worked at the Roche Group for more than 15 years, serving in finance roles of increasing responsibility across product commercialization, pipeline development, manufacturing and strategic planning, most recently as the finance and corporate services director for Roche Pharma in the UK. Mr. Kelly holds a bachelor of arts in economics from the College of William and Mary, and a master’s in business administration from the Columbia Business School. About PraxisPraxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance. Praxis is applying insights from genetic epilepsies to broader neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio, including multiple disclosed programs across CNS disorders including depression, epilepsy, movement disorders and pain syndromes, with three clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on LinkedIn and Twitter. CONTACT: Investor Contact: Alex Kane Praxis Precision Medicines investors@praxismedicines.com 617-300-8481 Media Contact: Ian Stone Canale Communications Ian.stone@canalecomm.com 619-849-5388

  • Praxis Precision Medicines to Present at Upcoming Investor Conferences
    GlobeNewswire

    Praxis Precision Medicines to Present at Upcoming Investor Conferences

    CAMBRIDGE, Mass., May 14, 2021 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal imbalance, today announced that management will participate in the following upcoming virtual investor conferences: RBC Capital Markets Global Healthcare ConferencePresentation on Wednesday, May 19, 2021 at 2:30 p.m. ET Oppenheimer Rare & Orphan Disease SummitPrerecorded presentation available on Friday, May 21, 2021 at 8:00 a.m. ET The events will be available via webcast through the Events & Presentations page of the Investors + Media section of the company’s website at www.praxismedicines.com. Replays of the webcasts will be available for 90 days following the events. About PraxisPraxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance. Praxis is applying insights from genetic epilepsies to broader neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio, including multiple disclosed programs across CNS disorders including depression, epilepsy, movement disorders and pain syndromes, with three clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on LinkedIn and Twitter. CONTACT: Investor Contact: Alex Kane Praxis Precision Medicines investors@praxismedicines.com 617-300-8481 Media Contact: Ian Stone Canale Communications Ian.stone@canalecomm.com 619-849-5388

  • Praxis Precision Medicines Prices Public Offering of Common Stock
    GlobeNewswire

    Praxis Precision Medicines Prices Public Offering of Common Stock

    CAMBRIDGE, Mass., May 13, 2021 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance, today announced that it has priced an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $18.25 per share. The gross proceeds to Praxis from the offering are expected to be approximately $91.25 million, before deducting the underwriting discounts and commissions and other offering expenses. Praxis has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. All shares in the offering are to be sold by Praxis. The offering is expected to close on or about May 18, 2021, subject to satisfaction of customary closing conditions. Praxis intends to use the net proceeds from the offering, together with its existing cash, cash equivalents and short-term investments, to (i) advance PRAX-114 into and through the completion of the Phase 2/3 Aria Study in monotherapy major depressive disorder (“MDD”), which is intended to satisfy one of two registrational trials required by the U.S. Food and Drug Administration to support clinical efficacy for monotherapy MDD, advance PRAX-114 into and through the completion of Praxis’ Phase 2 trial for the adjunctive treatment of MDD, complete Part B (perimenopausal depression) of the Phase 2a clinical trial for PRAX-114, initiate a Phase 3 monotherapy trial in MDD, initiate and complete a Phase 2 trial in post-traumatic stress disorder (“PTSD”), initiate and complete a Phase 2 trial in essential tremor (“ET”) and pursue the development of PRAX-114 in an additional indication; (ii) complete its ongoing Phase 2a clinical trial and a Phase 2 randomized, controlled clinical trial for PRAX-944 in ET and initiate and complete a Phase 2 trial of PRAX-944 in Parkinson’s Disease; (iii) complete its ongoing PRAX-562 Phase 1 healthy volunteer trial and initiate and complete Phase 2 trials of PRAX-562 in Short-lasting Unilateral Neuralgiform headache attacks with Conjunctival injection and Tearing (“SUNCT”), Short-lasting Unilateral Neuralgiform headache with Autonomic symptoms (“SUNA”), and Trigeminal Neuralgia (“TN”), and in developmental and epileptic encephalopathies (“DEEs”), including SCN8A-DEE and SCN2A-DEE, and (iv) advance other programs in its pipeline and support working capital and other general corporate purposes. BofA Securities, Cowen and Piper Sandler are acting as joint bookrunning managers for the offering, and Wedbush PacGrow is acting as lead manager for the offering. A registration statement on Form S-1, which includes a preliminary prospectus relating to and describing the terms of the offering, has been filed with the U.S. Securities and Exchange Commission (the “SEC”), and declared effective by the SEC on May 13, 2021. The public offering is being made by Praxis only by means of a prospectus relating to the offering. Copies of the final prospectus relating to the offering will be filed with the SEC and may be obtained, when available, from: BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, or by emailing dg.prospectus_requests@bofa.com; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at 833-297-2926; or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About PraxisPraxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance. Praxis is applying insights from genetic epilepsies to broader neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio, including multiple disclosed programs across CNS disorders including depression, epilepsy, movement disorders and pain syndromes, with three clinical-stage product candidates. Forward-Looking StatementsThis press release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws, including express or implied statements Praxis’ future expectations, plans and prospects, including, without limitation, statements regarding the consummation of the offering, the terms of the offering, the satisfaction of customary closing conditions with respect to the offering, the anticipated use of the net proceeds of the offering, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995, as amended. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation: uncertainties due to changes as a result of market conditions or other reasons; the risk that the offering will not be consummated; those risks and uncertainties inherent in clinical trials; risks, uncertainties and assumptions regarding the impact of the continuing COVID-19 pandemic on Praxis’ business, operations, strategy, goals and anticipated timelines; and other risks concerning Praxis’ programs and operations are described in additional detail in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed on May 11, 2021, its Annual Report on Form 10-K for the year ended December 31, 2020, filed on March 17, 2021 and its other filings made with the Securities and Exchange Commission from time to time. Although Praxis’ forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Praxis. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Praxis undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Investor Contact:Alex Kane Praxis Precision Medicinesinvestors@praxismedicines.com 617-300-8481 Media Contact:Ian StoneCanale CommunicationsIan.stone@canalecomm.com619-849-5388