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PRAX

Praxis Precision Medicines, Inc.

PRAX

Praxis Precision Medicines, Inc. • NASDAQ
$196.46 ▲ 4.20% (+7.92)
Market Cap $4.15 B
52w High $206.71
52w Low $26.70
Dividend Yield 0%
P/E -15.15
Volume 708.64K
Outstanding Shares 21.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $12.562M ▼ $-73.934M ▼ 0% $-3.36 ▼ $-73.915M ▲
Q2-2025 $0 $13.061M ▼ $-71.127M ▼ 0% $-3.31 ▼ $-76.021M ▼
Q1-2025 $0 ▼ $13.922M ▼ $-69.296M ▼ 0% ▲ $-3.29 ▼ $-74.681M ▼
Q4-2024 $7.463M ▲ $15.131M ▼ $-58.679M ▼ -786.266% ▲ $-2.94 ▼ $-63.909M ▼
Q3-2024 $302K $15.256M $-51.91M -17.189K% $-2.75 $-56.743M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $267.157M ▼ $396.388M ▼ $52.883M ▲ $343.505M ▼
Q2-2025 $301.275M ▼ $452.832M ▼ $48.608M ▲ $404.224M ▼
Q1-2025 $327.991M ▼ $478.736M ▼ $39.522M ▲ $439.214M ▼
Q4-2024 $392.567M ▲ $483.11M ▲ $37.66M ▲ $445.45M ▲
Q3-2024 $357.032M $416.256M $33.59M $382.666M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-73.934M ▼ $-64.738M ▼ $50.413M ▲ $6.437M ▼ $-7.888M ▲ $-64.738M ▼
Q2-2025 $-71.127M ▼ $-54.676M ▼ $17.894M ▲ $28.63M ▼ $-8.152M ▲ $-54.796M ▼
Q1-2025 $-69.296M ▼ $-52.707M ▲ $-51.064M ▼ $53.966M ▼ $-49.805M ▼ $-52.707M ▲
Q4-2024 $-58.679M ▼ $-56.122M ▼ $-10.918M ▼ $113.767M ▲ $46.727M ▲ $-56.122M ▼
Q3-2024 $-51.91M $-27.5M $49.566M $1.436M $23.502M $-27.5M

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q4-2024
Option Exercise Fee
Option Exercise Fee
 $0 ▲$0 ▲$0 ▲$10.00M ▲
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Praxis is still a classic clinical‑stage biotech story: almost no product revenue yet and a steady stream of operating losses. The business is built around research rather than sales at this point. Losses have been significant every year, which is normal for a company funding multiple clinical programs before approval. That said, the size of the loss has been moving in the right direction more recently, suggesting tighter cost control or more focused spending. Per‑share losses look very large because of the reverse stock split, which changes the share count but not the underlying economics. The key takeaway is that the company is still firmly in investment mode, not profitability mode.

Balance Sheet

Balance Sheet The balance sheet is dominated by cash and has no financial debt, which is a positive starting point for a risk‑heavy biotech. The company is essentially equity‑financed. Cash levels dipped over time and then were rebuilt more recently, likely through new financing. That has strengthened the near‑term cushion but does not remove the need for careful cash management. Equity has followed a similar pattern, shrinking and then being rebuilt, which is typical for a young biotech that raises capital as programs advance. The structure looks clean, but the business still depends on external funding until it can generate meaningful revenue.

Cash Flow

Cash Flow Praxis consistently spends more cash than it brings in, driven mainly by research and development and operating costs. That is expected for a company without approved products. Operating and free cash flow have been negative every year, though the outflow has eased somewhat recently. There is essentially no spending on physical assets, so almost all cash use is tied to people, trials, and drug development. The core question going forward is how far the current cash balance can carry the pipeline and whether additional financing will be needed before any commercial launches. That timing is uncertain and will depend on trial progress and spending discipline.

Competitive Edge

Competitive Edge Praxis focuses on central nervous system disorders, especially epilepsy and movement disorders, with a precision‑medicine angle. That gives it a clear scientific identity in a crowded neurology field. Its main edge is specialization: targeting specific ion channels and genetic forms of disease, where competition is thinner and unmet need is high. Several programs have regulatory designations that can speed development or improve market positioning if successful. However, the company competes indirectly with much larger pharma players in neurology and directly with other innovators targeting similar pathways. With no approved drugs yet, its competitive position remains potential rather than proven, and it hinges on clinical data and execution over the next few years.

Innovation and R&D

Innovation and R&D Praxis is highly innovation‑driven, built around two core platforms: one for small molecules and one for genetic medicines. Together, they let the company attack brain disorders from both a traditional drug and a gene‑level angle. The pipeline is diversified across essential tremor, focal seizures, and rare developmental epilepsies, including some first‑in‑class and potentially disease‑modifying approaches. Multiple programs carry special regulatory statuses, signaling that regulators see meaningful unmet need and scientific promise. R&D spending has been heavy, which explains the persistent losses but also underpins the company’s value. The scientific strategy is ambitious and differentiated, but clinical and regulatory risk is inherently high, and any setback in key trials could materially affect the story.

Summary

Praxis is an early‑stage, research‑focused biotech aiming to reshape treatment for brain disorders using precision medicine. Financially, it looks like a typical clinical‑stage company: minimal revenue, sizable but recently improving losses, and heavy dependence on external capital. The balance sheet is relatively clean, with no debt and a strengthened cash position, but the business still burns cash and is not yet self‑funding. Future financings remain a realistic possibility. Strategically, Praxis has carved out a distinct niche in targeted neurology with a dual‑platform approach and a pipeline that includes both rare and broader indications. Regulatory designations, partnerships, and late‑stage trials offer real upside potential, but the company’s ultimate success depends on clinical trial outcomes and its ability to navigate the long, uncertain path from promising data to approved, commercial products.

NEWS

November 20, 2025 · 4:01 PM UTC

Praxis Precision Medicines to Participate in Upcoming Fireside Chat

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November 6, 2025 · 8:00 AM UTC

Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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October 16, 2025 · 11:45 PM UTC

Praxis Precision Medicines, Inc. Announces Pricing of $525 Million Public Offering

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October 16, 2025 · 4:01 PM UTC

Praxis Precision Medicines, Inc. Announces Proposed Public Offering

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October 2, 2025 · 4:01 PM UTC

Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Read more