Praxis announces planned equity offering after stock nearly triples

Praxis Precision Medicines

16/10/2025 21:30

** Praxis Precision Medicines PRAX.O looks to capitalize on its surging stock price by raising equity

    ** PRAX shares on Thurs ended up 183.7% at $162.71, an over three-year high, after co said its experimental movement disorder drug ulixacaltamide met main goals of two late-stage studies for essential tremor, a condition that causes involuntary shaking

      ** After the bell, Boston-based co announces offering comprising stock and pre-funded warrants; deal size not disclosed

      ** Last month, co filed for up to $250 mln ATM ("at-the-market") equity sales program

      ** With ~22.4 mln shares outstanding, Praxis has about $3.6 bln market cap, per LSEG data

      ** TD Cowen, Piper Sandler, Guggenheim and Truist are joint bookrunners for the offering

      ** Shares are up 4.2% at $169.50 in extended trading

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))