PRAX
Praxis Precision Medicines (PRAX) plunged nearly 12% after-hours on Monday after its vormatrigine candidate...
Article Summary
HOLD- Praxis Precision Medicines (PRAX) plunged nearly 12% after-hours on Monday after its vormatrigine candidate failed to reduce monthly frequency of focal onset seizures in certain patients in a trial, prompting a pause in enrollment in a second registrational study.
- The POWER1 Phase 2/3 registrational trial did not meet its primary endpoint of percent change in monthly seizure frequency from baseline, though it did meet a key secondary endpoint of 50% responder rate and seizure reduction was more pronounced during the second half of the study on the higher 30 mg dose.
- The once-daily oral therapy targeting hyperexcitable sodium channels in the brain was generally well-tolerated, with adverse event-related discontinuations below 10%, and Praxis Precision Medicines is pausing enrollment in the POWER2 study to reassess the overall program and evaluate potential modifications.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -100.0% | 25% | 0.0 ptsDeclining (-100.0%) - NOT a growth stock |
| EPS Growth Next 5Y ? | 0.0% | 25% | 10.0 ptsVery Weak (0.0%) - Minimal expectations |
| Target Price Upside ? | 92.3% | 20% | 100.0 ptsMassive Upside (92.3%) - Target: $644.59 vs Current: $335.16 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -8.6% | 15% | 20.0 ptsBarely a Dip (-8.6%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
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Past performance does not guarantee future results.
About PRAX
- Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance in the United States.
- The company's platforms include Cerebrum, a small molecule platform for CNS small molecule therapies to develop orally available precision therapies; and Solidus to discover and develop antisense oligonucleotide.
- It also develops ulixacaltamide, a small molecule inhibitor of T-type calcium channels that in NDA for the treatment of essential tremor; relutrigine, a small molecule, which is in NDA for the treatment of SCN2A- and SCN8A-developmental and epileptic encephalopathies (DEE), as well as in Phase 3 trial for broad DEEs; vormatrigine, a small molecule targeting the hyperexcitable state of sodium-channels in the brain that is in Phase 3 trial for the treatment of adjunctive focal epilepsy, as well as in Phase 2 trial for monotherapy focal epilepsy; and Elsunersen, a clinical-stage ASO designed to selectively decrease SCN2A gene expression, which is in Phase 3 trial for the treatment of SCN2A-DEE.
- In addition, the company is developing product candidates in pre-clinical trial comprising PRAX-020 to treat KCNT1; PRAX-080 that targets PCDH19 mosaic expression disorders; PRAX-090 for targeting SYNGAP1 loss-of-function; and PRAX-100 that targets SCN2A LoF mutations.
- It has a cooperation and license agreement with RogCon Inc.; and a research collaboration, option, and license agreement with Ionis Pharmaceuticals, Inc.
- The company was formerly known as EpiPM Therapeutics, Inc. and changed its name to Praxis Precision Medicines, Inc. in October 2016.
- Praxis Precision Medicines, Inc. was incorporated in 2015 and is headquartered in Boston, Massachusetts.