Praxis Precision Medicines Inc.
Praxis Precision Medicines Announces Public Offering of Shares and Pre-funded Warrants
Summary
On January 11, 2024, Praxis Precision Medicines, Inc. announced an underwritten public offering of 3,168,275 shares of its common stock and pre-funded warrants to purchase up to 1,056,725 shares of common stock. The offering price for the shares is $35.50 per share, and for the pre-funded warrants, it is $35.4999 per underlying share. The closing of the offering is expected on January 16, 2024, subject to customary conditions. The company intends to use the net proceeds, expected to be approximately $161.7 million, for the development of its drugs, including ulixacaltamide, PRAX-628, PRAX-562, and PRAX-222, and for working capital and other general corporate purposes.
Profitelligence Alerts
Get alerts for PRAX
Be first to know when Praxis Precision Medicines Inc. files with the SEC.
Filing Categories
Exhibits (3)
Advertisement
About Praxis Precision Medicines Inc.
Praxis Precision Medicines Inc. operates within the biopharmaceutical sector, focusing on the development of treatments for central nervous system (CNS) disorders. The company's primary objective is to address unmet medical needs by leveraging their extensive research in genetics, the neurobiology of CNS disorders, and translational science. Praxis Precision Medicines is rapidly carving out a niche in the healthcare field by targeting illnesses such as epilepsy, movement disorders, and psychiatric conditions, which impact millions of individuals globally. Their innovative pipeline includes a variety of therapeutic candidates designed to modulate specific neural pathways that are believed to be core to CNS dysregulation. As an emerging leader in the biopharma industry, Praxis Precision Medicines plays a crucial role in advancing CNS treatment paradigms, working to improve quality of life for patients and expand the possibilities of personalized medicine through cutting-edge science.
Official SEC Documents
Advertisement