Praxis Precision Medicines, Inc. (NASDAQ: PRAX) Q2 2025 Earnings | 08/04/2025

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Praxis Precision Medicines, Inc. delivered a pivotal second quarter in 2025 marked by important clinical progress and intensified R&D investment, even as financial losses widened. The company recognized no revenue for the quarter—down from $0.4 million in Q2 2024—following the end of its collaboration with UCB. Research and development expenses more than doubled to $63.0 million (vs. $27.3 million in Q2 2024), primarily driven by increased activity in its Cerebrum™ and Solidus™ platforms and higher personnel costs. General and administrative expenses rose to $13.1 million, up from $10.6 million last year. As a result, Praxis reported a net loss of $71.1 million for Q2 2025—equivalent to $(3.31) per share—compared to a net loss of $32.7 million ($(1.74) per share) in the prior year, missing consensus EPS estimates. The company finished June 2025 with $446.6 million in cash, cash equivalents, and marketable securities, enough to fund operations into 2028. Operational expansion was reflected in a rise in accounts payable ($28.8 million, up from $12.5 million), while weighted average shares outstanding climbed to 21.5 million, up from 18.8 million last year, due to equity funding. Notably, Praxis announced positive topline data from its Phase 2 RADIANT trial for vormatrigine in focal onset seizures, showing a 56.3% median reduction in seizure frequency, with 22% of participants achieving seizure freedom in the last 28 days of the study. The company also moved relutrigine into pivotal trials for developmental and epileptic encephalopathies (DEEs), following FDA Breakthrough Therapy designation. Key clinical milestones expected in late 2025 and 2026 include topline results from pivotal studies in essential tremor (ulixacaltamide) and epilepsy (vormatrigine, POWER1). Praxis is focused on expanding its pipeline for CNS disorders and executing on multiple late-stage clinical programs, remaining well-capitalized despite currently high cash burn and a lack of near-term revenue or updated financial guidance. About Inside Ticker: For more expert analysis and real-time updates on Praxis Precision Medicines, Inc. (NASDAQ: PRAX) and other market movers, follow Inside Ticker and visit http://www.insideticker.com/ for in-depth reports, financial insights, and the latest news on leading companies. #Praxis #PRAX #Q22025 #Earnings #FinancialResults #NetLoss #Research #Epilepsy #CNS #RADIANT #Vormatrigine #ClinicalTrials #BreakthroughTherapy #CashRunway #InsideTicker #2025Outlook