Praxis soars as movement disorder drug meets trial goals

Praxis Precision Medicines

16/10/2025 15:38

Updates

** Drug developer Praxis Precision Medicines' PRAX.O shares surge 228% to more than three-year high of $130.87

** Co says its experimental movement disorder drug ulixacaltamide met the main goals of two late-stage studies for essential tremor, a condition that causes involuntary shaking, often in hands, disrupting daily tasks

** Patients on drug showed improved functioning and maintained the effect over time - PRAX

** Piper Sandler analyst Yasmeen Rahimi said the trial data win validates major opportunity for the company

** Co says no drug-related serious side effects; most common were dizziness, brain fog

** PRAX is on track to add about $2.93 billion in market capitalization, if gains hold

** As of Wednesday close, co had 22,417,761 outstanding shares with a market capitalization of $1.29 billion - LSEG

        ** Including sessions move, stock up more than double YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.pandey@thomsonreuters.com))