Praxis Precision Medicines, Inc.

Listed Company

PRAXCIK 0001689548NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

Net Income

$-303.30M

Total Assets

$937.91M

Equity

$878.14M

Shares Out

27.85M

Op. Cash Flow

$-249.07M

Business

Praxis Precision Medicines, Inc. is a clinical-stage biopharmaceutical company translating genetic insights from epilepsies into therapies for central nervous system disorders driven by neuronal excitation–inhibition imbalance. It develops precision small molecules and antisense oligonucleotides, advancing clinical-stage candidates including ulixacaltamide, vormatrigine, relutrigine and elsunersen. The company operates two proprietary platforms—Cerebrum™ (small molecules) and Solidus™ (ASOs)—and maintains discovery, translational biomarker, and clinical development capabilities supported by external collaborators. It conducts global clinical trials and partnerships, leverages CRO/CDMO networks, and pursues regulatory approvals across multiple jurisdictions.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	0	9	2	0	—
Research and development	267	152	87	155	120
General and administrative	59	56	42	60	47
Total operating expenses	326	209	129	215	167
Loss from operations	−326	−200	−126	−215	−167
Other income, net	23	17	3	957,000	—
Total other income	23	17	3	957,000	271,000
Net loss	−303	−183	−123	−214	−167
Net loss per share attributable to common stockholders, basic (in dollars per share)	−13.48	−10.21	−18.69	−69.65	−3.94
Net loss per share attributable to common stockholders, diluted (in dollars per share)	−13.48	−10.21	−18.69	−69.65	−3.94
Weighted average common shares outstanding, basic (in shares)	23	18	7	3	42
Weighted average common shares outstanding, diluted (in shares)	23	18	7	3	42

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2024 2024-06-30	FY 2024 2024-03-31
Cash and cash equivalents	357	215	—	—	—
Marketable securities	242	177	—	—	—
Prepaid expenses and other current assets	12	12	—	—	—
Total current assets	611	404	—	—	—
Long-term marketable securities	327	77	—	—	—
Property and equipment, net	147,000	230,000	—	—	—
Operating lease right-of-use assets	92,000	1	—	—	—
Other non-current assets	0	416,000	—	—	—
Total assets	938	483	—	—	—
Accounts payable	25	13	—	—	—
Accrued expenses	35	24	—	—	—
Operating lease liabilities	110,000	1	—	—	—
Total current liabilities	60	38	—	—	—
Non-current portion of operating lease liabilities	0	110,000	—	—	—
Total liabilities	60	38	—	—	—
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued or outstanding as of December 31, 2025 and December 31, 2024	0	0	—	—	—
Common stock, $0.0001 par value; 150,000,000 shares authorized; 25,195,092 shares issued and outstanding as of December 31, 2025, and 19,422,358 shares issued and outstanding as of December 31, 2024	15,000	14,000	—	—	—
Additional paid-in capital	2,018	1,282	—	—	—
Accumulated deficit	−1,100	−837	—	—	—
Accumulated other comprehensive gain	563,000	654,000	—	—	—
Total stockholders equity	878	445	383	419	230
Total liabilities and stockholders equity	938	483	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation expense	100,000	400,000	400,000	400,000	200,000
Stock-based compensation expense	34	41	25	29	23
Non-cash operating lease expense	1	933,000	837,000	752,000	1
Amortization of premiums and discounts on marketable securities, net	−4	−5	47,000	1	2
Non-cash collaboration and license agreement expense	0	3	0	—	—
Other non-cash adjustments	−7,000	0	0	—	—
Prepaid expenses and other current assets	640,000	−8	7	547,000	−6
Accounts payable	12	7	−9	4	7
Accrued expenses	11	16	−8	−10	15
Operating lease liabilities	−1	−1	−1	—	—
Deferred revenue	0	−3	−2	5	0
Other	0	2,000	0	56,000	−41,000
Net cash used in operating activities	−249	−132	−111	−185	−125
Purchases of property and equipment	−56,000	0	−50,000	−444,000	−1
Purchases of marketable securities	−624	−372	0	−83	−164
Maturities of marketable securities	313	123	39	180	25
Net cash (used in) provided by investing activities	−311	−248	39	97	−141
Payments of tax withholdings related to vesting of restricted stock units	−2	−308,000	−137,000	−260,000	0
Proceeds from exercise of options and employee stock purchase plan purchases	13	3	416,000	1	—
Net cash provided by financing activities	702	514	92	10	108
Increase in cash, cash equivalents and restricted cash	142	134	20	−78	−157

Filings

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