Praxis Precision's Q1 net loss widens on higher expenses

Praxis Precision Medicines

07/05/2026 13:07

Overview

U.S. CNS biopharma's Q1 net loss widened yr/yr on higher R&D and admin costs

Company's cash and investments rose to $1.4 bln, expected to fund operations into 2028

FDA accepted NDAs for ulixacaltamide and relutrigine; clinical pipeline advancing

Outlook

Company expects topline results from POWER1 study of vormatrigine in Q2 2026

Praxis anticipates EMERALD study topline results in broad DEEs in Q4 2026

FDA decision on ulixacaltamide NDA expected by Jan. 29, 2027; relutrigine by Sept. 27, 2026

Result Drivers

HIGHER R&D SPENDING - Praxis said increased Q1 research and development expenses were mainly due to higher costs for the Cerebrum platform, personnel, and Solidus platform

INCREASED ADMIN COSTS - General and administrative expenses rose due to higher personnel and professional expenses

Company press release: ID:nGNX8PgKR8

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
-$3.20
Q1 Net Income
-$92.56 mln
Q1 Operating Expenses
$105.86 mln
Q1 Operating Income
-$105.86 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

Wall Street's median 12-month price target for Praxis Precision Medicines Inc is $554.00, about 63.9% above its May 6 closing price of $338.07

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)