Praxis Precision Medicines

PRAX

Market cap $7.19B

BOSTON, June 02, 2026 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (Nasdaq: PRAX), a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, today announced that on June 1, 2026, the Compensation Committee of Praxis' Board of Directors granted restricted stock unit awards covering an aggregate of 2,754 shares of its common stock to thirteen new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock unit awards were granted as inducements material to the employees' entering into employment with Praxis in accordance with Nasdaq Listing Rule 5635(c)(4).

Praxis Precision Medicines unexpectedly halted enrollment in a late-stage study of its seizure drug. Praxis stock tumbled.

Praxis Precision Medicines Inc. (NASDAQ:PRAX) on Monday reported results from its Phase 2/3 POWER1 study of vormatrigine for focal onset seizures.

Praxis Precision Medicines said on Monday its experimental epilepsy drug failed to meet the ​main goal of a mid- to late-stage ‌study, prompting it to pause enrollment in another ongoing study while it reassesses the program.

POWER1 Study in highly refractory patients with focal onset seizures did not meet its primary success measure Secondary measure, the 50% response rate, was met and seizure reduction during the second half of the study on higher dose (30 mg) was more pronounced Vormatrigine was generally well-tolerated; adverse event-related discontinuations were less than 10% Approximately 90% of patients from the vormatrigine arm transitioned to and remain in the open label extension (OLE) study Praxis is pausing enrollment in the POWER2 study to reassess the vormatrigine program and determine potential modifications BOSTON, June 01, 2026 (GLOBE NEWSWIRE) -- Praxis Precision Medicines , Inc. (NASDAQ: PRAX), a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, today announced results from the Phase 2/3 POWER1 study evaluating vormatrigine in patients with focal onset seizures (FOS). “While the results for POWER1 were not what we hoped for, we are encouraged by the signal we saw on the higher dose arm, the low discontinuation rate and solid safety profile,” said Marcio Souza, President and Chief Executive Officer of Praxis.

Praxis Precision Medicines, Inc. (PRAX) Presents at Bank of America Global Healthcare Conference 2026 Prepared Remarks Transcript

Praxis Precision Medicines, Inc. (PRAX) Q1 2026 Earnings Call Transcript

Praxis Precision Medicines NASDAQ: PRAX said it is preparing for two potential U.S. product launches while advancing several late-stage clinical programs, as management outlined first-quarter 2026 results and pipeline updates on the company's earnings call.

FDA accepted the new drug application (NDA) for ulixacaltamide in Essential Tremor with a PDUFA target action date of January 29, 2027, and the NDA for relutrigine, with priority review, in SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs) with a PDUFA target action date of September 27, 2026

BOSTON, May 05, 2026 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (Nasdaq: PRAX), a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, today announced that on May 1, 2026, the Compensation Committee of Praxis' Board of Directors granted restricted stock unit awards covering an aggregate of 5,420 shares of its common stock to twenty-one new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock unit awards were granted as inducements material to the employees' entering into employment with Praxis in accordance with Nasdaq Listing Rule 5635(c)(4).