Praxis Precision Medicines (PRAX) IPO Opens 37% Higher

Today's IPO for Praxis Precision Medicines, Inc. (NASDAQ: PRAX) opened for trading at $25.94 after pricing 10,000,000 shares of common stock at a public offering price of $19.00 per share. All of the shares are being offered by Praxis.

Praxis has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the initial public offering price less underwriting discounts and commissions.

Cowen, Evercore ISI and Piper Sandler are acting as joint book-running managers for the offering, Wedbush PacGrow is acting as Lead Manager for the offering, and Blackstone Capital Markets* is acting as Co-Manager for the offering.

Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal imbalance.

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