Form 3: Adage discloses 2.37M PRAX shares held via Adage entities

Rhea-AI Filing Summary

Adage Capital Management, L.P. reported an initial Section 16 filing for Praxis Precision Medicines, Inc. (PRAX) disclosing 2,374,085 shares beneficially owned indirectly. The filing states these shares are held directly by Adage Capital Partners, L.P. (ACP) and that Adage Capital Management, L.P. (ACM) serves as ACP's investment manager with discretionary authority over the portfolio. Robert Atchinson and Phillip Gross are identified as managing members of related Adage entities. The reporting persons are listed as Directors and as a 10% owner relationship to the issuer. The filing includes standard Section 16 disclaimers that each reporting person disclaims beneficial ownership except for any pecuniary interest, and it is signed by Adage and the two individuals on 08/19/2025.

Positive

• Initial public disclosure of an indirect stake of 2,374,085 shares in PRAX, improving transparency
• Complete chain of ownership identified: securities held by Adage Capital Partners, L.P., managed by Adage Capital Management, L.P.
• Named reporting persons (Robert Atchinson and Phillip Gross) with signatures, meeting Section 16 filing formalities

Negative

• None.

Insights

Securities Compliance Analyst

TL;DR: Routine Section 16 initial disclosure showing an indirect position of 2,374,085 shares held through Adage entities; compliance filing appears complete.

The Form 3 documents an initial beneficial-ownership disclosure for PRAX where the economic interest is held by Adage Capital Partners, L.P., with Adage Capital Management, L.P. acting as investment manager. The filing identifies two individuals, Robert Atchinson and Phillip Gross, connected via managerial roles in the relevant Adage entities, and marks the relationship as Director and 10% owner. It includes the customary disclaimer of beneficial ownership and is signed and dated. From a compliance perspective, the filing supplies the required ownership amount, ownership form (indirect), reporting persons, and signatures, satisfying basic Section 16 initial-statement elements.

Institutional Investor Relations Specialist

TL;DR: Disclosure provides transparency on a sizable indirect stake of 2,374,085 PRAX shares by Adage-affiliated entities.

The filing clarifies the chain of ownership: ACP holds the shares directly while ACM manages ACP's portfolio, and two named managers link the governance structure. This provides investors and the issuer with clear identification of a significant holder and the responsible reporting parties. The standard pecuniary-interest disclaimer is present. No transactions, derivative positions, or changes in holdings are reported here—this is an initial ownership statement rather than an event-driven trade disclosure.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Adage Capital Management, L.P.

(Last) (First) (Middle)

200 CLARENDON STREET, 52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/18/2025

3. Issuer Name and Ticker or Trading Symbol
Praxis Precision Medicines, Inc. [ PRAX ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Title of Security (Instr. 4)	2,374,085	I	See footnotes(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Adage Capital Management, L.P.

(Last) (First) (Middle)

200 CLARENDON STREET, 52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Atchinson Robert

(Last) (First) (Middle)

200 CLARENDON STREET

52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Gross Phillip

(Last) (First) (Middle)

200 CLARENDON STREET

52ND FLOOR

(Street)

BOSTON MA 02116

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The securities to which this filing relates are held directly by Adage Capital Partners, L.P., a Delaware limited partnership ("ACP"). Adage Capital Management, L.P., a Delaware limited partnership ("ACM"), serves as the investment manager of ACP and as such has discretion over the portfolio securities held by ACP. Robert Atchinson and Phillip Gross are the managing members of (i) Adage Capital Advisors, L.L.C., a Delaware limited liability company, managing member of Adage Capital Partners GP, L.L.C., a Delaware limited liability company, general partner of ACP and (ii) Adage Capital Partners LLC, a Delaware limited liability company, general partner of ACM.

2. Each of the reporting persons disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, except as to such extent of such reporting person's pecuniary interest in the securities, if any.

	/s/ Adage Capital Management, L.P.; By: its general partner Adage Capital Partners LLC; By its managing member Robert Atchinson	08/19/2025
	/s/ Robert Atchinson	08/19/2025
	/s/ Phillip Gross	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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FAQ

What number of PRAX shares does Adage report owning?

The filing reports 2,374,085 shares beneficially owned indirectly.

Who holds the PRAX shares according to the Form 3?

The shares are held directly by Adage Capital Partners, L.P. with Adage Capital Management, L.P. acting as investment manager.

Which individuals are named as reporting persons on the Form 3?

The filing names Robert Atchinson and Phillip Gross as reporting persons and managing members of related Adage entities.

How did the filing describe the reporters' relationship to PRAX?

Each reporting person is indicated as a Director and as a 10% owner in relation to the issuer.

When was the event requiring this Form 3 reported?

The Date of Event Requiring Statement is listed as 08/18/2025, and the form is signed on 08/19/2025.