Praxis Precision Medicines Stock Surges 25% In Friday Pre-Market Trading— What's Going On?

Praxis Precision Medicines Inc. (NASDAQ:PRAX) shares surged 24.81% in pre-market trading on Friday, climbing to $237.10.

Check out the current price of PRAX stock here.

PRAX closed Thursday's regular session at $189.97, up 2.05%, according to Benzinga Pro data.

Early Trial Halt For Efficacy

The Boston-based clinical-stage biopharmaceutical company reported positive results from the registrational cohort of its EMBOLD study, which is evaluating relutrigine for SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs).

The Food and Drug Administration (FDA) has scheduled a meeting in the coming weeks to review the data and discuss next steps. Praxis will decide on the timing of the NDA filing for relutrigine after that meeting.

No Approved Treatments Available

Marcio Souza, president and chief executive officer, said in the release that "SCN2A and SCN8A DEEs are devastating conditions with extremely high mortality due to the debilitating seizure burden they impose on patients, and there are currently no approved treatment options."

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On Saturday, the company will present its topline results at the American Epilepsy Society Annual Meeting.

Separate Essential Tremor Program Advances

In a separate release Thursday, Praxis also announced it completed a pre-NDA (New Drug Application) meeting with the FDA for ulixacaltamide, an essential tremor treatment, and expects to submit the NDA in early 2026 after aligning on its content.

Short seller Culper Research previously challenged the ulixacaltamide trial data, claiming there were endpoint changes and optimistic assumptions for discontinued patients.

Stock Performance

The stock has surged 349.53% over the past six months.

Praxis Precision Medicines has a market capitalization of $4.75 billion, with its stock trading between $26.70 and $206.36 over the past 52 weeks.

With a strong Momentum in the 98th percentile, Benzinga’s Edge Stock Rankings indicate that PRAX has a positive price trend across all time frames.  Know how its momentum lines up with other well-known names.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.