Every 10-Q that Praxis Precision Medicines, Inc. (PRAX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PRAX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PRAX filings page.
Praxis Precision Medicines, a CNS-focused biopharmaceutical company, reported a Q2 2026 net loss of $83.7 million and a first-half loss of $176.3 million, driven by research and development expense of $69.4 million and general and administrative expense of $27.5 million. Higher costs reflected expanded clinical programs and commercial preparation.
Cash, cash equivalents and marketable securities totaled $1.4 billion as of June 30, 2026, and management expects this to fund operating and capital needs into 2028. The company remains pre-revenue and continues to invest heavily in its pipeline.
Pipeline progress is significant. NDAs for ulixacaltamide in essential tremor and relutrigine in SCN2A/SCN8A developmental and epileptic encephalopathies are under FDA review, with PDUFA action dates on December 27, 2026 and January 29, 2027, and no major safety or efficacy concerns identified to date. Elsunersen received FDA breakthrough therapy designation for SCN2A gain-of-function DEE and is in a Phase 3 registrational trial. One vormatrigine study in focal onset seizures missed its primary endpoint, leading to a temporary pause in another study while the program is reassessed. Praxis also regained full global rights to its KCNT1 program after its collaboration with UCB ended with no termination payments.
Praxis Precision Medicines reported a net loss of $92.6M for the three months ended March 31, 2026, driven by heavy investment in its CNS pipeline. Research and development spending rose to $78.0M, while general and administrative costs increased to $27.9M as commercialization planning accelerated.
The company ended the quarter with $1.4B in cash, cash equivalents and marketable securities, boosted by a $621.2M follow-on equity offering completed in January 2026. Management believes this balance can fund operations into 2028 while advancing multiple late-stage programs.
Praxis has submitted NDAs for ulixacaltamide in essential tremor and relutrigine in SCN2A/SCN8A developmental and epileptic encephalopathies. The relutrigine filing has FDA priority review with a target PDUFA date of September 27, 2026, and ulixacaltamide has a PDUFA date of January 29, 2027, positioning the company for potential first commercial products.
Praxis Precision Medicines (PRAX) filed its Q3 2025 report, showing higher R&D investment as late‑stage programs advance and a larger quarterly loss. Cash, cash equivalents and marketable securities were $389.2 million as of September 30, 2025. The company also completed an October 2025 public offering with $567.0 million in net proceeds, and states these resources will fund operations for at least one year from issuance and support program activities into 2028.
Q3 operating expenses reached $78.4 million (R&D $65.8 million; G&A $12.6 million), driving a net loss of $73.9 million versus $51.9 million a year ago. For the nine months, operating cash use was $172.7 million, offset by financing inflows including $89.3 million from at‑the‑market offerings. PRAX reported $14.8 million of other income year‑to‑date.
Shares outstanding were 21,165,933 as of September 30, 2025, and 25,007,171 as of October 31, 2025. Management highlights progress across ulixacaltamide (positive Phase 3 topline in October 2025), vormatrigine, relutrigine and elsunersen, while noting continued losses as development advances.