Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Praxis Precision Medicines (NASDAQ: PRAX) has granted restricted stock unit (RSU) awards to five new non-executive employees under its 2024 Inducement Plan. The awards cover a total of 3,688 shares of common stock and were approved by the Compensation Committee on May 1, 2025. The RSUs will vest over four years in equal annual installments, contingent on continued employment.
The grants were made as employment inducements in accordance with Nasdaq Listing Rule 5635(c)(4). Praxis, a clinical-stage biopharmaceutical company, focuses on developing therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance.
Positive
- None.
Negative
- None.
News Market Reaction
On the day this news was published, PRAX declined 3.18%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BOSTON, May 02, 2025 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (Nasdaq: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that on May 1, 2025, the Compensation Committee of Praxis’ Board of Directors granted restricted stock unit awards covering an aggregate of 3,688 shares of its common stock to five new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock units were granted as inducements material to the employees’ entering into employment with Praxis in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2024 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Praxis, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Praxis, pursuant to Nasdaq Listing Rule 5635(c)(4).
The restricted stock units will vest in four equal annual installments, subject to each employee’s continued employment with Praxis on each vesting date.
About Praxis
Praxis Precision Medicines is a clinical-stage 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 epilepsy and movement disorders, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook, LinkedIn and Twitter/X.
Contacts: Investor Contact: Praxis Precision Medicines investors@praxismedicines.com 857-702-9452 Media Contact: Dan Ferry Life Science Advisors Daniel@lifesciadvisors.com 617-430-7576
FAQ
What is the vesting schedule for PRAX's May 2025 RSU grants?
How many shares were granted in Praxis Precision Medicines' May 2025 inducement awards?
What is the purpose of PRAX's 2024 Inducement Plan?
What type of company is Praxis Precision Medicines (PRAX)?
