Praxis Precision Medicines reports positive results in epilepsy study By Investing.com

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BOSTON – Praxis Precision Medicines Inc. (NASDAQ: PRAX), a biopharmaceutical company, announced positive results from the Phase 2a proof of concept for PRAX-628, a treatment for epilepsy patients with photoparoxysmal response (PPR).

The study showed a 100% complete response in the 45 mg group and an 80% complete response in the 15 mg group, with the remaining 20% ​​achieving a partial response.

The PPR study is designed to measure the electroencephalogram (EEG) signal after photic stimulation, which serves as an indicator of anti-seizure efficacy. The results of this study showed strong and consistent responses across all dosing groups, with a safety profile consistent with previous studies. Pharmacokinetic analysis confirms the unusual exposure of the drug.

The company has indicated that these results will inform the preparation of a clinical trial for epilepsy, which should begin in the second half of 2024. Praxis highly appreciated the patients who participated in the PPR study.

In this study, patients’ EEG signals were analyzed over a 24-hour period following administration of placebo or PRAX-628. A response was classified as complete if there was a zero reduction in the number of PPR events at any time of assessment versus baseline. A partial response was defined if there was a decrease, but not zero, in the number of PPR events.

The safety and pharmacokinetic (PK) profile of PRAX-628 was evaluated throughout this period. The drug, which is being developed as a once-daily oral treatment for adults with early-onset epilepsy, has shown positive results in clinical studies and was well tolerated in a Phase 1 dose-escalation study in healthy volunteers.

PRAX-628 is known to be a very accurate sodium meter, which measures sodium transport in the brain. In vitro studies have shown its selectivity in the diagnosis of NaV Channel hyperexcitability, and in vivo studies have shown great potency in predicting the model’s efficacy in epilepsy.

Praxis will receive a call to discuss the results of the study, which has Dr. Daniel Friedman from the NYU Grossman School of Medicine. The findings are based on the company’s findings and are part of Praxis’ efforts to develop treatments for CNS disorders characterized by neuronal excitation-inhibition imbalance.

InvestingPro Insights

Praxis Precision Medicines (NASDAQ: PRAX ) recently released promising results from its Phase 2a study of PRAX-628, which could have significant implications for the company’s financials and stock performance. According to real-time data from InvestingPro, Praxis has a market capitalization of $668.54 million, indicating investor interest in its growth in the biopharmaceutical sector.

Despite the company’s impressive growth, it is worth noting that Praxis is currently unprofitable, with a negative P/E ratio of -2.73 and a P/E ratio for the last twelve months as of Q4 2023 of -5.42, indicating a high risk for the investment. investments in biopharma companies.

InvestingPro Advisors reveals that Praxis has more cash than debt on its website, which could lead to a financial turnaround as it continues to fund its research and development activities. However, the company is burning cash quickly, which is important for investors to consider. In addition, analysts have also reviewed the company’s earnings for the coming years, which shows that they are optimistic about the company’s future earnings.

InvestingPro also shows that Praxis’ gross profit margin is negative at -3445.81% in the last twelve months from Q4 2023, confirming the difficulties the company is facing in generating profits. Despite this, the stock returned significantly last year, with a return of 312.03%, showing the market’s optimism regarding its long-term prospects. For investors interested in Praxis’ potential and looking for additional information, there are 15 more. InvestingPro Guidelines available at: https://www.investing.com/pro/PRAX. To get this information, consider using coupons PRONEWS24 to receive an additional 10% on annual or bi-annual Pro and Pro+ subscriptions.

This article was created with the help of AI and reviewed by an editor. For more information see our T&C.

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