Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Praxis Precision Medicines (NASDAQ: PRAX), a clinical-stage biopharmaceutical company focused on CNS disorders, has granted restricted stock unit (RSU) awards to three new non-executive employees. The awards, totaling 2,100 shares of common stock, were issued under the company's 2024 Inducement Plan on July 1, 2025.
The RSUs will vest over four years in equal annual installments, contingent on continued employment. These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as inducement awards for new hires who were not previously Praxis employees.
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News Market Reaction – PRAX
In the trading session that priced this news, PRAX gained 2.03%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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BOSTON, July 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 July 1, 2025, the Compensation Committee of Praxis’ Board of Directors granted restricted stock unit awards covering an aggregate of 2,100 shares of its common stock to three new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The restricted stock unit awards 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 the 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