Praxis Precision Medicines Appoints Global Epilepsy Leader Dr. Orrin Devinsky as Head of Clinical Strategy
Rhea-AI Summary
Praxis Precision Medicines (NASDAQ: PRAX) on Jan 13, 2026 appointed Dr. Orrin Devinsky as Head of Clinical Strategy, a new leadership role reporting to Steven Petrou, Ph.D., President of Research and Development.
Dr. Devinsky brings more than 40 years of clinical experience, > 500 peer-reviewed publications, 16 issued patents, leadership on pivotal cannabidiol trials for rare epilepsies, and prior direction of a major academic epilepsy program. He will guide clinical program architecture, evidence generation, and global medical affairs as Praxis advances a late-stage portfolio toward commercialization.
Positive
- Appointed Dr. Orrin Devinsky as Head of Clinical Strategy on Jan 13, 2026
- Dr. Devinsky brings >40 years of clinical experience
- Scientific output includes >500 peer-reviewed publications
- Holds 16 issued patents spanning epilepsy therapeutics and drug delivery
- Led pivotal cannabidiol trials resulting in first FDA approvals for rare epilepsies
Negative
- None.
News Market Reaction
On the day this news was published, PRAX gained 1.85%, reflecting a mild positive market reaction. Argus tracked a peak move of +3.8% during that session. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $154M to the company's valuation, bringing the market cap to $8.49B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
PRAX was down 4.41% while peers were mixed: AVXL up 6.18%, ZBIO up 7.31%, SANA up 1.95%, and NKTR down 5.48%. With only one peer in the momentum scanner and moves not uniformly aligned, trading appeared more stock-specific than sector-driven before this leadership news.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 08 | Leadership expansion | Positive | -2.0% | Board additions and executive promotions for late-stage, commercial readiness. |
| Jan 06 | Equity offering priced | Negative | -1.4% | Pricing of $575M underwritten public offering of common shares. |
| Jan 06 | Equity offering proposed | Negative | -1.4% | Announcement of proposed public offering and pre-funded warrants. |
| Dec 29 | BTD and NDA plan | Positive | +13.3% | FDA Breakthrough Therapy Designation and early 2026 NDA submission plan. |
| Dec 11 | NDA path confirmed | Positive | +2.2% | FDA confirmed PRAX may file NDA for relutrigine in early 2026. |
Recent offerings and leadership/pipeline milestones often saw price moves aligned with the underlying sentiment, with only one notable divergence on positive governance news.
Over the last two months, PRAX has reported several late-stage pipeline and financing milestones. An Oct 17, 2025 equity raise and related 424B5 prospectus expanded funding into 2028. Subsequent Q3 2025 results highlighted higher R&D and ongoing losses. In Dec 2025, PRAX secured FDA Breakthrough Therapy Designation for ulixacaltamide and positive NDA feedback for both ulixacaltamide and relutrigine. Early Jan 2026 board and executive appointments further positioned the company for late-stage development and commercialization, and today’s appointment adds specialized epilepsy leadership on top of that governance build-out.
Market Pulse Summary
This announcement adds a globally recognized epilepsy and CNS expert to guide clinical strategy as PRAX advances a growing late-stage portfolio. The hire builds on prior FDA interactions, including Breakthrough Therapy Designation and planned NDAs for ulixacaltamide and relutrigine. Investors may watch how Dr. Devinsky’s experience across landmark epilepsy therapies, 500+ publications, and 16 patents influences trial design, evidence generation, and eventual commercialization planning.
Key Terms
cannabidiol medical
dravet syndrome medical
lennox-gastaut syndrome medical
tuberous sclerosis complex medical
sudep medical
AI-generated analysis. Not financial advice.
BOSTON, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, today announced the appointment of world-renowned neurologist and epilepsy authority Dr. Orrin Devinsky, M.D., as Head of Clinical Strategy, a newly created leadership role.
Dr. Devinsky is widely regarded as one of the most influential physician-scientists of his generation in modern epilepsy and clinical neuroscience. Over a career spanning more than four decades, he has shaped the development of multiple transformative therapies, built enduring global research initiatives, and helped define the modern standards of care for patients with severe neurological disease. He currently serves as a Professor of Neurology and previously directed a major academic epilepsy program for more than three decades.
At Praxis, Dr. Devinsky will be part of the group leading clinical strategy and global medical affairs, guiding program architecture, evidence generation, and external scientific engagement as the company advances a growing late-stage portfolio toward commercialization and will report to Steven Petrou, Ph.D., President of Research and Development.
“Orrin Devinsky’s career has had a significant impact on the development of therapies for patients with severe neurological disease,” said Steven Petrou. “His decision to join Praxis reflects the strength of our scientific approach and long-term strategy. We are excited to welcome Orrin into this role, and his insight and perspective will be valuable as we continue to advance the next generation of CNS medicines to patients worldwide.”
Dr. Devinsky has been a central architect of multiple landmark therapeutic advances. He served as Principal Investigator for the pivotal clinical trials leading to the first FDA approval of cannabidiol therapy for Dravet syndrome, Lennox-Gastaut syndrome, and tuberous sclerosis complex, opening an entirely new therapeutic class for rare epilepsies. His scientific output includes more than 500 peer-reviewed publications and 16 issued patents spanning epilepsy therapeutics, molecular biology, and drug delivery.
Beyond his scientific contributions, Dr. Devinsky has founded or co-founded some of the most impactful organizations in the epilepsy community, including Finding A Cure for Epilepsy and Seizures (FACES), Epilepsy Therapy Project, and epilepsy.com, and established the North American SUDEP Registry, a cornerstone initiative advancing understanding of epilepsy-related mortality. He has led multiple research programs and has served on the boards and scientific advisory committees of numerous biotechnology and patient advocacy organizations. His career achievements have been recognized with the field’s highest honors, including the American Epilepsy Society J. Kiffin Penry Award for Excellence in Epilepsy Care, the LouLou Foundation Champion of Progress Award, and the 2025 Epilepsy Foundation Lifetime Accelerator Award.
“Praxis represents a rare convergence of scientific rigor, translational ambition, and genuine commitment to patients,” said Dr. Devinsky. “I am joining with deep conviction in our science, leadership, and long-term vision. With the largest, most comprehensive, precision-based pipelines I have seen in my career, Praxis is uniquely positioned to deliver these promising and transformative epilepsy therapies. I am thrilled to work with Steve and the Praxis team at this inflection point and help guide programs that I believe can meaningfully change the lives of people living with devastating neurological disorders.”
About Praxis
Praxis Precision Medicines is a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across movement disorders and epilepsy, with four late-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook, LinkedIn and X/Twitter.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding Praxis’ future expectations, plans and prospects, including, without limitation, statements regarding the anticipated timing of clinical trials, the development of Praxis’ product candidates and plans to initiate new clinical programs, the anticipated timing of regulatory submissions and interactions, potential market opportunity and commercial potential of Praxis’ product candidates and our projected cash runway, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995.
The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: uncertainties inherent in clinical trials; the expected timing of clinical trials, data readouts and the results thereof, and submissions for regulatory approval or review by governmental authorities; regulatory approvals to conduct trials; and other risks concerning Praxis’ programs and operations as described in its Annual Report on Form 10-K for the year ended December 31, 2024 and as updated in the Quarterly Report on Form 10-Q for the period ended June 30, 2025, as well as other filings made with the Securities and Exchange Commission. Although Praxis’ forward-looking statements reflect the good faith judgment of its management, these statements are based only on information and factors currently known by Praxis. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Praxis undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Investor Contact: Praxis Precision Medicines investors@praxismedicines.com 857-702-9452 Media Contact: Dan Ferry Life Sci Advisors Daniel@lifesciadvisors.com 617-430-7576
FAQ
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