Company Overview - Praxis Precision Medicines is a Boston-based biotechnology company focused on developing novel therapies for neurological and psychiatric disorders characterized by neuronal imbalance [6] - The company has a pipeline targeting major depressive disorder, essential tremor, and rare epilepsies, emphasizing precision medicine and targeted treatments [6] - As of February 17, 2026, the company's stock price was $328.04, reflecting a significant increase of 320% over the prior year [8] Financial Performance - The company reported a trailing twelve months (TTM) revenue of $7.46 million and a net income loss of $273.04 million [4] - Praxis ended 2025 with $926 million in cash and investments, supplemented by an additional $621 million in financing in January 2026, extending its financial runway into 2028 [10][11] - Research and development spending for 2025 reached $267 million, indicating a late-stage push across multiple programs [11] Recent Developments - On February 17, 2026, Perceptive Advisors LLC disclosed a purchase of 431,432 shares of Praxis Precision Medicines, valued at approximately $80.34 million, increasing its stake significantly [2] - The quarter-end value of Perceptive Advisors' position in Praxis increased by $505.38 million due to the share purchase and subsequent stock price movement [2] - Praxis has submitted two New Drug Applications (NDAs) to the FDA for ulixacaltamide in essential tremor and relutrigine for SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs) [10] Market Position and Strategy - The company operates a biopharmaceutical business model focused on research, clinical development, and commercialization of proprietary drug candidates [9] - Praxis targets healthcare providers and specialists in neurology and psychiatry, aiming to address unmet medical needs in these fields [9] - The recent increase in portfolio weightings for Praxis reflects a transition from a pipeline story to a pending commercial launch, indicating potential for rapid changes in investor sentiment [7]

Praxis Precision Medicines (NasdaqGS:PRAX) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsDan Ferry - VP of Investor RelationsMarcio Souza - President and CEOTim Kelly - CFOConference Call ParticipantsAmi Fadia - AnalystAndrew Tsai - AnalystAthena Chin - AnalystBenjamin Burnett - AnalystBrian Skorney - AnalystDavid Hoang - Equity AnalystDouglas Tsao - AnalystFrancois Brisebois - AnalystJay Olson - AnalystJoon Lee - AnalystJustin Walsh - AnalystKambiz Yazdi - AnalystYasmeen Rahimi - ...

Praxis Precision Medicines (NasdaqGS:PRAX) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsDan Ferry - VP of Investor RelationsMarcio Souza - President and CEOTim Kelly - CFOConference Call ParticipantsAmi Fadia - AnalystAndrew Tsai - AnalystAthena Chin - AnalystBenjamin Burnett - AnalystBrian Skorney - AnalystDavid Hoang - Equity AnalystDouglas Tsao - AnalystFrancois Brisebois - AnalystJay Olson - AnalystJoon Lee - AnalystJustin Walsh - AnalystKambiz Yazdi - AnalystYasmin Rahimi - S ...

Praxis Precision Medicines (NasdaqGS:PRAX) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Speaker12Good day, and thank you for standing by. Welcome to the Praxis Precision Medicines fourth quarter and full year 2025 earnings call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one on your telephone. You will then hear an automated message advising y ...

Two new drug applications (NDA) for ulixacaltamide in essential tremor (ET) and for relutrigine in SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs) have been submitted to the U.S. Food and Drug Administration (FDA) Pre-launch activities for ulixacaltamide and relutrigine are underway and will accelerate through 2026 Essential3 results to be presented as an oral presentation at the American Academy of Neurology Annual Meeting Cash and investments of $926 million as of December 31, 2025 and ...

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is one of the 13 hot stocks to buy with the highest upside potential. On February 2, Wells Fargo gave a more tempered assessment on the stock, initiating coverage of the company with an Equal Weight rating and a $282 price target. Wells Fargo noted that while public sentiment about ulixacaltamide, an investigational-stage treatment for essential tremor, is bullish, it sees a 50% probability of success for the drug. Meanwhile, Praxis Precision Medicines Inc. (N ...

Praxis Precision Medicines (NASDAQ:PRAX) is one of the 17 biotechnology stocks with more than 50% upside. On February 10, Guggenheim analyst Yatin Suneja raised the price target on Praxis Precision Medicines (NASDAQ:PRAX) from $760 to $800. He maintained a Buy rating on the stock, which he believes offers more than 140% upside. Why Core Scientific Inc. (CORZ) Performed Worst On Tuesday? Sergey Nivens/Shutterstock.com Suneja highlighted his analysis and feedback from industry experts, which suggests uli ...

Core Insights - Praxis Precision Medicines is focused on developing therapies for central nervous system disorders, with candidates targeting conditions such as depression and epilepsy [1][9] - Affinity Asset Advisors disclosed a new position in Praxis, acquiring 185,000 shares valued at approximately $54.53 million [2][8] Company Overview - As of February 13, 2026, Praxis Precision Medicines had a market capitalization of $8.8 billion and a share price of $317.25, reflecting a 266.1% increase over the past year [4][8] - The company reported a total revenue of $7.46 million and a net income loss of $273.04 million for the trailing twelve months [4] Financial Position - The firm has approximately $956 million in pro forma cash and investments, which is expected to fund operations into 2028 [7] - The recent acquisition by Affinity Asset Advisors represents 3.11% of the fund's reportable assets [8] Strategic Developments - Praxis is in a critical phase, with expectations to submit two new drug applications for ulixacaltamide and relutrigine by mid-February, both of which have received Breakthrough Therapy Designation [7] - The company is leveraging a robust clinical pipeline and strategic collaborations to address significant gaps in neurological and psychiatric care [9] Market Performance - Praxis shares have significantly outperformed the S&P 500 by 254.29 percentage points over the past year [8] - The company is seen as transitioning from a focus on promise to potential commercialization, with an emphasis on regulatory milestones and cash discipline [11]

Summary of Praxis Precision Medicines Conference Call Company Overview - **Company**: Praxis Precision Medicines (NasdaqGS:PRAX) - **Event**: Guggenheim Emerging Outlook, Biotech Summit 2026 - **Date**: February 11, 2026 - **Key Executives Present**: Marcio Souza (CEO), Tim Kelly (CFO) Core Industry Insights - **Focus Area**: Central Nervous System (CNS) disorders, specifically essential tremor and epilepsy treatments - **Market Potential**: Approximately 2-2.5% of the U.S. population is affected by essential tremor, indicating a significant patient base requiring treatment [9][10] - **Current Treatment Landscape**: There are no effective and safe treatments available for essential tremor, highlighting a substantial unmet medical need [10] Key Points Discussed - **Ulixacaltamide Hydrochloride**: - A potential drug for essential tremor, expected to be a significant advancement in treatment options [9][10] - Positive results from the Essential3 program were highlighted, indicating meaningful benefits for patients [11] - **Patient Population**: - Between 1 and 2 million patients in the U.S. are actively seeking treatment for essential tremor [16] - 80,000 prescriptions are written monthly by neurologists for essential tremor, indicating strong demand [14] - 70% of patients have family members also affected by essential tremor, suggesting a broader market potential [19] - **Commercial Strategy**: - The company plans to deploy a robust sales force to effectively reach physicians across the U.S. [21] - Emphasis on mobilizing patients to participate in clinical studies, achieving recruitment rates 5-7 times faster than larger competitors [24] - The launch strategy will include extensive patient messaging and ensuring coverage from payers [27] - **Pricing Strategy**: - Initial pricing discussions suggest a potential range of $40,000 to $60,000 per year for ulixacaltamide, with considerations for patient copay management [43][44] - The company aims to avoid leaving money on the table to ensure continued innovation [41] Regulatory and Development Updates - **NDA Filing**: - The company is on track to file for ulixacaltamide in mid-February 2026, with confidence in meeting regulatory requirements [47][52] - Two NDAs are being filed simultaneously, indicating a significant operational effort [60] - **Emerald Study**: - The EMERALD study for expanding indications in developmental and epileptic encephalopathies (DEE) is progressing well, with expectations for positive outcomes [64][66] - The study is anticipated to finalize in the second half of the year, potentially qualifying for expedited review under the STAR program [67] Financial Position - **Funding**: - The company has approximately $1.5 billion in cash, providing a strong runway to support drug launches and operations through 2028 [90] - **Priority Vouchers**: - The company is eligible for two priority review vouchers, which could enhance its market positioning for rare disease treatments [90] Additional Considerations - **Market Dynamics**: - The company acknowledges the competitive landscape for epilepsy treatments but believes there is ample opportunity for multiple successful products [78] - **Combination Therapies**: - Future treatments may involve combination therapies, particularly for severe cases, indicating a strategic approach to patient care [86] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Praxis Precision Medicines' focus on addressing significant unmet needs in CNS disorders and its proactive approach to market entry and patient engagement.

Core Insights - Praxis Precision Medicines is positioned for significant growth in 2026 with multiple product launches and a strong focus on commercial readiness for its therapies [2][4] - The company has a robust financial standing with $1.5 billion in pro forma cash and investments, supporting its pipeline and commercial activities [1][16] - Combined peak revenue estimates for four late-stage assets are projected to exceed $20 billion, indicating substantial market potential [1] Clinical and Regulatory Milestones - In 2025, Praxis achieved Breakthrough Therapy Designation from the FDA for ulixacaltamide and relutrigine, marking significant advancements in treating essential tremor and SCN2A/8A developmental and epileptic encephalopathies (DEEs) [2][3] - The company initiated four registration-enabling studies across its epilepsy portfolio, including pivotal studies for vormatrigine, relutrigine, and elsunersen [3] - Positive results were reported for ulixacaltamide in pivotal studies, establishing it as the first successful Phase 3 program for pharmacological treatment of essential tremor [3] Product Pipeline and Revenue Potential - Ulixacaltamide is expected to exceed $10 billion in peak revenues, while vormatrigine and relutrigine are projected to exceed $4 billion and $5 billion, respectively [10] - Elsunersen is anticipated to exceed $1 billion in peak revenues, highlighting the diverse revenue streams from the product pipeline [10] - The company plans to submit NDAs for ulixacaltamide and relutrigine by mid-February 2026, with significant pre-launch momentum and patient interest [10] Corporate Developments - Praxis has strengthened its leadership team to support growth, appointing new board members and promoting key executives [16] - The company completed a public offering resulting in net proceeds of approximately $621 million, enhancing its financial resources for upcoming initiatives [16] - A focus on lifecycle management and indication expansion across its portfolio is planned for 2026, reinforcing its position in the CNS market [10][15]