Praxis Precision Q3 net loss widens to $94 mln on G&A costs

Overview

• U.S. CNS drugmaker reported Q3 net loss of $94.2 mln and loss per share of $3.23

• Company's cash and investments rose to $1.3 bln, expected to fund operations into 2028

• R&D expenses fell slightly, while G&A costs rose sharply from last year

Outlook

• FDA review of relutrigine ongoing, with PDUFA target action date of Dec 27, 2026

• FDA review of ulixacaltamide ongoing, with PDUFA target action date of Jan 29, 2027

• Topline results from EMERALD study of relutrigine expected in Q4 2026

Result Drivers

• R&D EXPENSES - Lower spending on Cerebrum program offset by higher personnel-related costs

• G&A COSTS - Higher personnel, professional, and other expenses drove increase in general and administrative costs

• CASH POSITION - Cash and investments increased due to proceeds from public offering and interest income

Company press release:

Key Details

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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.)