Praxis jumps on positive meeting with FDA for tremor drug, epilepsy trial success

Praxis Precision Medicines

05/12/2025 14:48

Updates

** Shares of drug developer Praxis Precision Medicines PRAX.O rise 36% to $257.89, the highest in nearly four years

** Co late on Thursday said U.S. FDA has agreed on NDA for its tremor drug, ulixacaltamide

** NDA stands for "New Drug Application"

** Co also reported positive interim results for its rare epilepsy treatment, relutrigine

** "Preliminary checks suggest peak sales could exceed $2.5 billion and sees meaningful catalysts ahead, including NDA acceptance and potential approval in 2026" - Jefferies

** Co's ulixacaltamide showed meaningful benefit for essential tremor, a condition causing involuntary shaking

** Including session's move, stock up ~235% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))