Praxis Precision (NASDAQ: PRAX) replaces EY with KPMG as auditor

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Praxis Precision Medicines, Inc. reported that its Audit Committee dismissed Ernst & Young LLP as independent registered public accounting firm and engaged KPMG LLP, both effective June 29, 2026. EY’s audit reports on the company’s 2024 and 2025 financial statements contained no adverse opinions or disclaimers.

The company states there were no disagreements with EY on accounting principles, financial disclosures, or audit procedures, and no reportable events during those periods. Praxis also reports that it did not consult KPMG on accounting principles, potential audit opinions, or any matters involving disagreements or reportable events before the appointment.

8-K Event Classification

2 items: 4.01, 9.01

2 items

Item 4.01 Changes in Registrant's Certifying Accountant Governance

The company changed its independent auditing firm, which may involve disagreements on accounting matters.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Auditor change effective date: June 29, 2026 Fiscal years covered by EY reports: 2024 and 2025

2 metrics

Auditor change effective date June 29, 2026 Date EY was dismissed and KPMG was engaged

Fiscal years covered by EY reports 2024 and 2025 EY reports contained no adverse opinions or disclaimers

Key Terms

independent registered public accounting firm, Audit Committee, reportable events, disagreements

4 terms

independent registered public accounting firm financial

"EY as the Company's independent registered public accounting firm"

An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.

Audit Committee financial

"the Audit Committee of the Board of Directors of Praxis Precision Medicines"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

reportable events regulatory

"there were no reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K)"

Reportable events are significant incidents or changes a company is legally required to disclose to regulators and the public, such as major safety problems, legal actions, financial irregularities, or management changes. They matter to investors because these events can alter a company’s risk profile or future performance, much like a dashboard warning light signals a problem that could affect a car’s safety or reliability. Timely disclosure helps investors make informed decisions and maintain market fairness.

disagreements financial

"there were no disagreements with EY on any matter of accounting principles"

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Understanding 8-K Material Events →

Available on EDGAR 07/02/2026 - 04:31 PM Accepted by SEC EDGAR 07/02/2026 - 04:30 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 29, 2026

PRAXIS PRECISION MEDICINES, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-39620

47-5195942

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

Praxis Precision Medicines, Inc.

99 High Street, 30th Floor

Boston, Massachusetts 02110

(Address of principal executive offices, including zip code)

(617) 300-8460

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trade

Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.0001 par value per share

PRAX

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 4.01 Changes in Registrant's Certifying Accountant.

Dismissal of Independent Registered Public Accounting Firm

On June 29, 2026, the Audit Committee of the Board of Directors (the "Audit Committee") of Praxis Precision Medicines, Inc. (the "Company") approved the dismissal of Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm, effective as of that date.

The reports of EY on the Company's financial statements for the fiscal years ended December 31, 2025 and December 31, 2024 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.

During the fiscal years ended December 31, 2025 and December 31, 2024 and through June 29, 2026, there were no: (i) disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) with EY on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of EY, would have caused it to make reference to the subject matter of the disagreements in connection with its reports; or (ii) reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K).

The Company has provided EY with a copy of the disclosures it is making in this Current Report on Form 8-K and has requested that EY furnish a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Company in this Current Report on Form 8-K and, if not, stating the respects in which it does not agree. A copy of the letter from EY is attached as Exhibit 16.1 to this Current Report on Form 8-K.

Engagement of New Independent Registered Public Accounting Firm

On June 29, 2026, the Audit Committee approved the engagement of KPMG LLP ("KPMG") as the Company's new independent registered public accounting firm, effective as of that date.

During the fiscal years ended December 31, 2025 and December 31, 2024 and through June 29, 2026, neither the Company nor anyone on its behalf has consulted with KPMG regarding: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company by KPMG that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

16.1

Letter from Ernst & Young LLP to the Securities and Exchange Commission, dated July 2, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PRAXIS PRECISION MEDICINES, INC.

Date: July 2, 2026	By:	/s/ Marcio Souza
		Marcio Souza
		Chief Executive Officer

Source: View Original Filing on SEC EDGAR

FAQ

What auditor change did Praxis Precision Medicines (PRAX) disclose?

Praxis Precision Medicines replaced Ernst & Young LLP with KPMG LLP as its independent registered public accounting firm, effective June 29, 2026. The change was approved by the Audit Committee and applies to future audits of the company’s financial statements.

Did Ernst & Young issue adverse opinions on PRAX’s 2024 or 2025 results?

Ernst & Young’s reports on Praxis Precision Medicines’ financial statements for 2024 and 2025 did not contain adverse opinions or disclaimers. They were also not qualified or modified regarding uncertainty, audit scope, or accounting principles, according to the company’s disclosure.

Were there disagreements between PRAX and Ernst & Young before the auditor change?

Praxis Precision Medicines states there were no disagreements with Ernst & Young on accounting principles, financial statement disclosure, or auditing scope or procedures through June 29, 2026. The company also reports there were no reportable events as defined under Item 304 of Regulation S-K.

How was KPMG selected as the new auditor for Praxis Precision Medicines (PRAX)?

The Audit Committee of Praxis Precision Medicines’ board approved the engagement of KPMG LLP as the new independent registered public accounting firm on June 29, 2026. The company reports it had not consulted KPMG on accounting treatments or potential audit opinions before this appointment.

Did PRAX consult KPMG on accounting issues before appointing them as auditor?

Praxis Precision Medicines reports that neither it nor anyone on its behalf consulted KPMG on applying accounting principles to specific transactions or on potential audit opinions, and no written or oral advice from KPMG influenced accounting or reporting decisions before their engagement.

Filing Exhibits & Attachments

4 documents