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Mar 31, 2021
Praxis Q1 2021 Earnings Report
Praxis Precision Medicines reported financial results for the first quarter ended March 31, 2021.
Key Takeaways
Praxis Precision Medicines reported a net loss of $27.4 million for the first quarter of 2021. As of March 31, 2021, Praxis had $270.8 million in cash, cash equivalents and marketable securities.
Expanded pipeline with new indications for PRAX-114 and PRAX-944
PRAX-114 Phase 2 trial for treatment of post-traumatic stress disorder to initiate in 2H21
PRAX-114 Phase 2 trial for treatment of essential tremor to initiate in 2H21
PRAX-944 Phase 2 trial for treatment of Parkinson’s disease to initiate in 1H22
Praxis
Praxis
Forward Guidance
Praxis plans to initiate multiple Phase 2 trials in the second half of 2021 and the first half of 2022.
Positive Outlook
- Initiate PRAX-114 Phase 2 trial for PTSD in 2H21
- Initiate PRAX-114 Phase 2 trial for essential tremor in 2H21
- Initiate PRAX-944 Phase 2 trial for Parkinson’s disease in 1H22
- Expect topline results from PRAX-114 Phase 2/3 Aria Study for MDD in 1H22
- Initiate PRAX-114 Phase 2 Study for adjunctive treatment of MDD in 3Q21