NASDAQ$PRAX
Praxis Precision Medicines I · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Praxis Precision Medicines reported financial results for the second quarter 2024 and provided a corporate update.
Praxis Precision Medicines reported a net loss of $32.7 million for the second quarter of 2024. The company's cash and investments totaled $433.8 million as of June 30, 2024, providing a cash runway into 2027.
- Up to four programs in registrational phase by 2025
- Planned interim analysis for ulixacaltamide Essential3 Study 1 to be conducted in Q4 2024
- Topline results for Phase 2 EMBOLD study of relutrigine in SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs) expected in Q3 2024
- PRAX-628 Phase 2/3 POWER1 study to initiate in Q4 2024
Headline financials
Revenue & EPS history
Praxis · Revenue · Quarterly
$357K
Revenue by segment
Praxis · $500K total across 1 segment · Q3 2023
- Collaboration Revenue$500K—100.0%
Forward guidance
Praxis expects to advance its portfolio and has multiple programs in registrational stage. The company anticipates topline data from several studies in the near term.
Tailwinds
- Essential3 program continues to progress well, with a pre-planned interim analysis of Study 1 to be conducted later this year.
- On track for a successful topline readout enabling an NDA filing in 2025
- Sharing topline results of the EMBOLD study for relutrigine, formerly known as PRAX-562, in SCN2A and 8A patients later this quarter
- Executing on the ENERGY program, a comprehensive set of studies, including a new Phase 2 Study (RADIANT)
- Anticipate the rapid advancement of all four clinical programs in our portfolio towards regulatory registrations.
Headwinds
- Uncertainties inherent in clinical trials
- Preliminary analyses from ongoing studies differing materially from final data from preclinical studies and completed clinical trials
- The expected timing of clinical trials, data readouts and the results thereof
- Submissions for regulatory approval or review by governmental authorities
- Regulatory approvals to conduct trials
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 Q2 2024
-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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