NASDAQ$PRAX
Praxis Precision Medicines I · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Praxis Precision Medicines reported its first quarter 2025 financial results, highlighting progress in its epilepsy portfolio and a strong cash position.
Praxis Precision Medicines reported a net loss of $69.3 million for Q1 2025, with research and development expenses significantly increasing to $60.8 million. The company maintains a strong cash position of $472.0 million, extending its runway into 2028.
- Cash and investments totaled $472.0 million as of March 31, 2025, providing a runway into 2028.
- Research and development expenses increased to $60.8 million in Q1 2025, up from $27.0 million in Q1 2024, primarily due to increased Cerebrum™ platform expenses.
- The company reported a net loss of $69.3 million for Q1 2025, compared to $39.6 million in Q1 2024.
- Praxis is on track for six major study readouts across four programs over the next 12 months, including pivotal studies for DEE programs.
Headline financials
Revenue & EPS history
Praxis · Revenue · Quarterly
$0
Revenue by segment
Praxis · $500K total across 1 segment · Q3 2023
- Collaboration Revenue$500K—100.0%
Forward guidance
Praxis anticipates a transformative year with multiple upcoming catalysts and data readouts, including topline results for vormatrigine from the RADIANT study by mid-2025 and POWER1 study in H2 2025. The company plans to initiate pivotal studies for DEE programs in mid-2025 and expects topline results for EMBOLD and EMBRAVE studies in H1 2026.
Tailwinds
- On track for six major study readouts across four programs over the next 12 months.
- Ready to initiate pivotal studies in two DEE programs (EMERALD and EMBRAVE3) in mid-2025.
- Vormatrigine continues to demonstrate a best-in-class safety profile with no food effect and higher dosing tolerability.
- Registrational cohort of EMBOLD study is recruiting strongly and on track for topline results no later than H1 2026.
- EMBRAVE study with elsunersen is progressing well, with topline results expected in H1 2026 to support the registrational package.
Headwinds
- Interim analysis of Essential3 study 1 for ulixacaltamide was not what was expected, with the study recommended to be stopped for futility.
- The company will continue the Essential3 studies to completion and share topline results in Q3 2025, after which a decision will be made regarding NDA filing.
- No collaboration revenue recognized in Q1 2025, a decrease from the previous year due to the exercise of an option by UCB.
- Increased research and development expenses primarily due to the Cerebrum™ platform.
- Net loss increased significantly compared to the previous year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
-0.3%
Avg return
Earnings day
+3.3%
Avg return
5 days after
-4.0%
Avg return
30 days after
57%
13 / 23 earnings
Positive
+22.3%
Q2 2022
Best reaction
-40.6%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.7% | -6.4% | -22.2% | |
| Q4 2025 | +0.5% | +4.2% | -9.3% | |
| Q3 2025 | -4.7% | -2.2% | +44.4% | |
| Q1 2025 | +0.2% | -3.5% | +16.3% | |
| Q4 2024 | -40.6% | -41.8% | -40.6% | |
| Q3 2024 | +3.6% | +16.6% | -4.0% | |
| Q2 2024 | -1.1% | +2.0% | +13.3% | |
| Q1 2024 | -5.9% | -6.9% | -15.8% | |
| Q4 2023 | +6.3% | +2.3% | -7.3% | |
| Q3 2023 | +1.4% | -0.6% | +21.6% | |
| Q2 2023 | +10.8% | +17.0% | +43.9% | |
| Q1 2023 | -2.8% | -1.9% | -7.7% | |
| Q4 2022 | -4.2% | -13.0% | -77.0% | |
| Q3 2022 | -12.5% | -11.2% | -13.3% | |
| Q2 2022 | +22.3% | +33.2% | -3.4% | |
| Q1 2022 | +14.0% | +28.1% | -77.7% | |
| Q4 2021 | -1.9% | -4.2% | -22.9% | |
| Q3 2021 | +2.4% | +2.0% | -17.1% | |
| Q2 2020 | +12.7% | +35.9% | +42.8% | |
| Q2 2021 | +12.7% | +35.9% | +42.8% | |
| Q1 2021 | -16.4% | -16.1% | -20.2% | |
| Q4 2020 | -6.8% | -11.5% | -34.0% | |
| Q3 2020 | +2.3% | +18.2% | +54.7% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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