Praxis Precision Medicines Inc.
Praxis Precision Medicines Terminates Sales Agreement
Summary
On January 10, 2024, Praxis Precision Medicines, Inc. (NASDAQ: PRAX) terminated its Open Market Sale Agreement with Jefferies LLC, effective immediately. The agreement, previously disclosed on December 7, 2023, allowed the company to sell up to $75 million worth of its common stock. Praxis has sold 404,643 shares for approximately $9.6 million gross proceeds under this agreement and is not subject to any termination penalties.
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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.
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