Overview

* Praxis reports Q3 net loss of $73.9 mln, with no collaboration revenue recognized

* Operating expenses for Q3 rise to $78.4 mln, driven by increased R&D costs

* Positive Phase 3 results for ulixacaltamide in essential tremor announced

Outlook

* Company plans to accelerate relutrigine development with interim analysis in Q4 2025

* Praxis expects to fund operations into 2028 with current cash and investments

* Pre-NDA meeting for ulixacaltamide scheduled for Q4 2025

Result Drivers

* Research and development expenses were $65.8 million for the three months ended September 30, 2025, compared to $41.9 million for the three months ended September 30, 2024

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$3.36

Q3 Net -$73.93

Income mln

Q3 $78.35

Operatin mln

g

Expenses

Q3 -$78.35

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for Praxis Precision Medicines Inc ( PRAX ) is $260.50, about 34.1% above its November 4 closing price of $171.75

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)