Earnings Releases·Nov 9, 2026, 7:02 AM ET

Praxis Precision Medicines — Third Quarter 2026 Earnings Summary

Reported a net loss of $94.2 million for Q3 2026, an increase from $73.9 million in the prior year period, driven by a rise in general and administrative expenses to $42.7 million from $12.6 million, while R&D expenses decreased to $64.2 million.
Cash, cash equivalents, and marketable securities increased to $1.3 billion as of September 30, 2026, up $359.9 million from year-end 2025, primarily due to proceeds from a January 2026 follow-on public offering, with sufficient liquidity to fund operations into 2028.
Regulatory milestones include a PDUFA date of December 27, 2026, for the relutrigine NDA and January 29, 2027, for the ulixacaltamide NDA, with top-line EMERALD study results expected in Q4 2026 and EMBRAVE3 results anticipated in 2027.
Strategic initiatives include the completion of ulixacaltamide sales force hiring in Q4 2026, the initiation of a collaboration with Remagine Labs for a transdermal patch formulation in July 2026, and plans to initiate the POWER3 vormatrigine study in 2027.