| Yesterday | ||||
Jefferies analyst Kambiz… Story temporarily locked. | ||||
| Over a week ago | ||||
H.C. Wainwright analyst… H.C. Wainwright analyst Douglas Tsao lowered the firm's price target on Praxis Precision Medicines to $15 from $16 and keeps a Buy rating on the shares post the Q1 results. | ||||
As of March 31, 2023,… As of March 31, 2023, Praxis had $85.8 million in cash, cash equivalents and marketable securities, which is expected to fund operations into the second quarter of 2024. | ||||
Reports Q1 revenue… Reports Q1 revenue $683,000 vs. $0 last year. "Each of our four clinical-stage programs has made meaningful progress this year and we anticipate additional value inflecting milestones throughout the pipeline in the coming months," said Marcio Souza, president and chief executive officer of Praxis. "We shared positive topline results earlier today from the Phase 1 study of our next-generation, functional-state selective small molecule, PRAX-628, and believe that this program has the potential to change the treatment paradigm for people living with focal epilepsy. We look forward to initiating a PRAX-628 Phase 2 study in focal epilepsy later this year, and also plan to share results from our PRAX-562 and PRAX-222 programs in rare, genetic epilepsies. Finally, we eagerly anticipate the upcoming ulixacaltamide End-of-Phase 2 FDA meeting in June and intend to start a Phase 3 program in essential tremor shortly thereafter." | ||||
Praxis Precision… Praxis Precision Medicines announced positive topline results from the PRAX-628 Phase 1 healthy volunteer study evaluating the safety, tolerability and pharmacokinetics of single ascending doses and multiple ascending doses of PRAX-628. PRAX-628 is a next-generation, functionally selective small molecule targeting the hyperexcitable state of sodium-channels in the brain. PRAX-628 is currently being developed as a once daily, oral treatment for adult focal onset epilepsy. "Today's data reinforce our expectations that PRAX-628 has the potential to be the best-in-class treatment for patients suffering from focal epilepsy," said Marcio Souza, president and chief executive officer of Praxis. "The ultimate goal of an anti-seizure medication is seizure freedom for all affected patients, and a wide therapeutic window is critical to reach that goal. Today's results support previously announced preclinical data to demonstrate that the unique functional selectivity of PRAX-628 may lead to a wider therapeutic range than current standard-of-care and other potential treatments in development." | ||||
| Over a month ago | ||||
Latest data shows the… Latest data shows the largest indicative borrow rate increases among liquid option names include: Upstart Holdings (UPST) 138.01% +22.07, Tattooed Chef (TTCF) 124.42% +3.74, Teucrium Wheat (WEAT) 35.82% +2.05, Nikola (NKLA) 130.76% +1.24, ProShares UltraShort DJ-UBS Natural Gas (KOLD) 31.23% +0.92, AST SpaceMobile (ASTS) 22.75% +0.72, Avadel Pharmaceuticals (AVDL) 5.63% +0.56, Getty Images (GETY) 86.08% +0.48, Direxion Daily 20 plus Year Treasury Bear 3X Shares (TMV) 9.85% +0.46, and Praxis Precision Medicines (PRAX) 3.43% +0.39. | ||||
Conference call with CEO… Conference call with CEO Souza to be held on March 28 at 11 am hosted by HC Wainwright. Webcast Link | ||||
Conference call with CEO… Conference call with CEO Souza to be held on March 28 at 11 am hosted by HC Wainwright. | ||||
Conference call with CEO… Conference call with CEO Souza to be held on March 28 at 11 am hosted by HC Wainwright. | ||||
William Blair on Friday… William Blair on Friday night downgraded Praxis Precision Medicines to Market Perform from Outperform without a price target after the he Essential1 study of RAX-944 on essential tremor did not meet its primary endpoint. The analyst thinks there may be a signal for the drug, but says it remains unclear whether the FDA will align on a favorable trial design or how clinically meaningful the data is. It reduced RAX-944's probability of clinical success to 10% and downgraded Praxis on the regulatory uncertainty and capital overhang. | ||||
