Praxis Precision Medicines, Inc. Financials
Praxis Precision Medicines, Inc. (PRAX) reported $0 in revenue for fiscal year 2025, down 100.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Praxis operates as a cash-funded R&D platform, where equity financing rather than revenue currently sustains expansion.
In the latest year, operating cash burn widened from-$131.8M to-$249.1M , while the expense base remained clearly research-driven rather than overhead-heavy. Cash still increased to$357.3M because financing brought in$702.2M , showing the balance sheet is being built by external capital instead of internal cash generation.
The expense mix is overwhelmingly research-led: R&D reached
This is a low-capital-intensity model, with capital spending of only
Financial Health Signals
Praxis Precision Medicines, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Praxis Precision Medicines, Inc. scores 105.97, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($10.8B) relative to total liabilities ($59.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Praxis Precision Medicines, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Praxis Precision Medicines, Inc. reported a net loss of $303.0M while operations used $249.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Praxis Precision Medicines, Inc. generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Praxis Precision Medicines, Inc.'s EBITDA was -$326.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 63.2% from the prior year.
Praxis Precision Medicines, Inc. reported -$303.0M in net income in fiscal year 2025. This represents a decrease of 65.6% from the prior year.
Praxis Precision Medicines, Inc. earned -$13.48 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 32.0% from the prior year.
Cash & Balance Sheet
Praxis Precision Medicines, Inc. recorded an outflow of $249.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 89.1% from the prior year.
Praxis Precision Medicines, Inc. held $357.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Praxis Precision Medicines, Inc.'s ROE was -34.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Praxis Precision Medicines, Inc. invested $267.1M in research and development in fiscal year 2025. This represents an increase of 75.3% from the prior year.
Praxis Precision Medicines, Inc. invested $56K in capex in fiscal year 2025, funding long-term assets and infrastructure.
Not reported for fiscal year 2025.
PRAX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $0-100.0% | $8.6M+249.5% | $2.4M | $0 | N/A | N/A | N/A |
| R&D Expenses | N/A | $267.1M+75.3% | $152.4M+75.7% | $86.8M-44.0% | $155.0M+28.9% | $120.3M+167.4% | $45.0M+52.2% | $29.6M |
| SG&A Expenses | N/A | $59.1M+4.9% | $56.3M+33.9% | $42.1M-29.8% | $59.9M+27.3% | $47.1M+177.0% | $17.0M+172.7% | $6.2M |
| Operating Income | N/A | -$326.2M-63.0% | -$200.2M-58.4% | -$126.4M+41.2% | -$215.0M-28.5% | -$167.3M-170.0% | -$62.0M-73.1% | -$35.8M |
| Income Tax | N/A | $471K | N/A | N/A | N/A | $0+100.0% | -$8K+90.5% | -$84K |
| Net Income | N/A | -$303.0M-65.6% | -$183.0M-48.8% | -$123.0M+42.5% | -$214.0M-28.1% | -$167.0M-170.1% | -$61.8M-74.1% | -$35.5M |
| EPS (Diluted) | — | -$13.48-32.0% | -$10.21 | -$18.69 | -$69.65 | -$3.94 | -$7.86 | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PRAX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $937.9M+94.1% | $483.1M+449.3% | $87.9M-23.6% | $115.1M-60.7% | $292.7M-3.4% | $303.2M+535.7% | $47.7M |
| Current Assets | $610.9M+51.1% | $404.4M+376.4% | $84.9M-23.4% | $110.8M-61.4% | $287.4M-4.9% | $302.3M+564.5% | $45.5M |
| Cash & Equivalents | $357.3M+65.9% | $215.4M+164.9% | $81.3M+31.9% | $61.6M-55.6% | $138.7M-53.2% | $296.6M+561.8% | $44.8M |
| Total Liabilities | $59.8M+58.7% | $37.7M+106.0% | $18.3M-53.2% | $39.0M-6.9% | $41.9M+166.8% | $15.7M-87.8% | $128.7M |
| Current Liabilities | $59.8M+59.2% | $37.5M+138.4% | $15.7M-54.1% | $34.3M-10.6% | $38.4M+144.5% | $15.7M+130.6% | $6.8M |
| Total Equity | $878.1M+97.1% | $445.4M+539.4% | $69.7M-8.5% | $76.1M-69.7% | $250.8M-12.7% | $287.5M+454.9% | -$81.0M |
| Retained Earnings | -$1.1B-36.2% | -$836.7M-28.0% | -$653.9M-23.2% | -$530.6M-67.6% | -$316.6M-111.7% | -$149.6M-84.6% | -$81.0M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
PRAX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$305.1M | -$249.1M-89.0% | -$131.8M-18.6% | -$111.1M+39.9% | -$185.0M-48.6% | -$124.6M-136.7% | -$52.6M-57.5% | -$33.4M |
| Capital Expenditures | $307K | $56K | $0-100.0% | $50K-88.7% | $444K-57.7% | $1.1M | $0-100.0% | $103K |
| Free Cash Flow | -$305.4M | -$249.1M-89.1% | -$131.8M-18.5% | -$111.2M+40.1% | -$185.5M-47.7% | -$125.6M-138.7% | -$52.6M-57.0% | -$33.5M |
| Investing Cash Flow | -$611.3M | -$311.1M-25.2% | -$248.5M-738.0% | $39.0M-59.8% | $96.9M+169.0% | -$140.5M | $0+100.0% | -$103K |
| Financing Cash Flow | $1.2B | $702.2M+36.5% | $514.3M+459.8% | $91.9M+777.9% | $10.5M-90.3% | $107.6M-64.7% | $304.4M+404.1% | $60.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PRAX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | -2340.3% | -5164.4% | N/A | N/A | N/A | N/A |
| Net Margin | N/A | -2139.6% | -5026.6% | N/A | N/A | N/A | N/A |
| Return on Equity | -34.5%+6.6pp | -41.1%+135.5pp | -176.6%+104.6pp | -281.2%-214.6pp | -66.6%-45.1pp | -21.5% | N/A |
| Return on Assets | -32.3%+5.6pp | -37.9%+102.0pp | -139.9%+46.0pp | -185.9%-128.8pp | -57.0%-36.7pp | -20.4%+54.1pp | -74.5% |
| Current Ratio | 10.22-0.5x | 10.77+5.4x | 5.39+2.2x | 3.23-4.3x | 7.48-11.8x | 19.23+12.6x | 6.67 |
| Debt-to-Equity | 0.070.0x | 0.08-0.2x | 0.26-0.3x | 0.51+0.3x | 0.17+0.1x | 0.05 | N/A |
| FCF Margin | N/A | -1540.5% | -4543.8% | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Praxis Precision Medicines, Inc. Ranks
Frequently Asked Questions
What is Praxis Precision Medicines, Inc.'s annual revenue?
Praxis Precision Medicines, Inc. (PRAX) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Praxis Precision Medicines, Inc.'s revenue growing?
Praxis Precision Medicines, Inc. (PRAX) revenue declined by 100.0% year-over-year, from $8.6M to $0 in fiscal year 2025.
Is Praxis Precision Medicines, Inc. profitable?
No, Praxis Precision Medicines, Inc. (PRAX) reported a net income of -$303.0M in fiscal year 2025.
What is Praxis Precision Medicines, Inc.'s EBITDA?
Praxis Precision Medicines, Inc. (PRAX) had EBITDA of -$326.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Praxis Precision Medicines, Inc.'s return on equity (ROE)?
Praxis Precision Medicines, Inc. (PRAX) has a return on equity of -34.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Praxis Precision Medicines, Inc.'s free cash flow?
Praxis Precision Medicines, Inc. (PRAX) recorded an outflow of $249.1M in free cash flow during fiscal year 2025. This represents a -89.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Praxis Precision Medicines, Inc.'s operating cash flow?
Praxis Precision Medicines, Inc. (PRAX) recorded an outflow of $249.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Praxis Precision Medicines, Inc.'s total assets?
Praxis Precision Medicines, Inc. (PRAX) had $937.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Praxis Precision Medicines, Inc.'s capital expenditures?
Praxis Precision Medicines, Inc. (PRAX) invested $56K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Praxis Precision Medicines, Inc. spend on research and development?
Praxis Precision Medicines, Inc. (PRAX) invested $267.1M in research and development during fiscal year 2025.
What is Praxis Precision Medicines, Inc.'s current ratio?
Praxis Precision Medicines, Inc. (PRAX) had a current ratio of 10.22 as of fiscal year 2025, which is generally considered healthy.
What is Praxis Precision Medicines, Inc.'s debt-to-equity ratio?
Praxis Precision Medicines, Inc. (PRAX) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Praxis Precision Medicines, Inc.'s return on assets (ROA)?
Praxis Precision Medicines, Inc. (PRAX) had a return on assets of -32.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Praxis Precision Medicines, Inc.'s cash runway?
Based on fiscal year 2025 data, Praxis Precision Medicines, Inc. (PRAX) had $357.3M in cash against an annual operating cash burn of $249.1M. This gives an estimated cash runway of approximately 17 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Praxis Precision Medicines, Inc.'s Altman Z-Score?
Praxis Precision Medicines, Inc. (PRAX) has an Altman Z-Score of 105.97, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Praxis Precision Medicines, Inc.'s Piotroski F-Score?
Praxis Precision Medicines, Inc. (PRAX) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Praxis Precision Medicines, Inc.'s earnings high quality?
Praxis Precision Medicines, Inc. (PRAX) reported a net loss of $303.0M while operations used $249.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.