Praxis Precision Medicines announces proposed public offering

Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced a proposed public offering of common stock and prefunded warrants to purchase shares of common stock. The clinical-stage biopharmaceutical company develops therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance.

The company plans to grant underwriters a 30-day option to purchase additional shares up to 15% of the shares sold in the offering at the public offering price, minus underwriting discount and commission. TD Cowen, Piper Sandler, Guggenheim Securities and Truist Securities serve as joint book-running managers for the offering.

The offering remains subject to market and customary closing conditions, with no assurance regarding completion timing or whether it will be completed. Praxis filed a shelf registration statement on Form S-3ASR with the Securities and Exchange Commission, which became effective on December 23, 2024.

The proposed offering will be conducted through a preliminary prospectus supplement and accompanying base prospectus. Interested parties can obtain copies of the preliminary prospectus from the underwriters once available.

The information is based on a press release statement from the company.

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