Praxis falls after Culper Research says it's short on co

Praxis Precision Medicines

20/11/2025 17:04

** Shares of drug developer Praxis Precision Medicines PRAX.O fall 4.7% to $180

** Culper Research says it's short on PRAX and thinks co is misleading investors about how good its new tremor drug ulixacaltamide, or "ulixa", really is, and that the stock is likely to drop a lot

** Praxis in October said it's experimental drug, ulixacaltamide, for a type of movement disorder called essential tremor, improved patients' ability to perform daily tasks in two late-stage trials

** Ulixacaltamide is "a house of cards" and has no real chance of FDA approval once the agency re‑analyzes the data properly, says Culper Research

     ** Culper calls the data "make-believe and half-baked analysis"

** Including session's move, PRAX stock more than doubled YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))