Praxis Precision Medicines, Inc. PRAX
We are a fully integrated, leading central nervous system, or CNS, precision neuroscience biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Normal brain function requires a delicate balance of excitation and inhibition in neuronal circuits, which, when dysregulated, can lead to abnormal function and both rare and more prevalent neurological disorders. We are applying genetic insights to the discovery and development of therapies for neurological disorders through two proprietary platforms, using our understanding of shared biological targets and circuits in the brain. Each platform currently has multiple programs, with significant potential for additional program and indication expansion:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $8.6M | $2.4M | $0 | — | — | — | — |
| R&D | $267.1M | $152.4M | $86.8M | $155.0M | $120.3M | $45.0M | $29.6M | — |
| SG&A | $59.1M | $56.3M | $42.1M | $59.9M | $47.1M | $17.0M | $6.2M | — |
| Total operating expenses | $326.2M | $208.7M | $128.8M | $215.0M | $167.3M | $62.0M | $35.8M | — |
| Operating income | -$326.2M | -$200.2M | -$126.4M | -$215.0M | -$167.3M | -$62.0M | -$35.8M | — |
| Pre-tax income | -$302.8M | -$182.7M | -$123.0M | — | -$167.1M | -$61.8M | -$35.6M | — |
| Income tax | $471.0K | — | — | — | $0 | $8.0K | $84.0K | — |
| Net income | -$303.0M | -$183.0M | -$123.0M | -$214.0M | -$167.0M | -$61.8M | -$35.5M | — |
| EPS, basic | -13.48 | -10.21 | -18.69 | -69.65 | -3.94 | -7.86 | — | — |
| EPS, diluted | -13.48 | -10.21 | -18.69 | -69.65 | -3.94 | -7.86 | -26.60 | — |
| Shares, diluted (wtd. avg.) | 22.5M | 17.9M | 6.6M | 3.1M | 42.5M | 9.0M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $357.3M | $215.4M | $81.3M | $62.0M | $139.7M | $297.2M | $45.4M | $18.6M |
| Short-term investments | $242.0M | $177.2M | $0 | $38.9M | $105.7M | — | — | — |
| Total current assets | $610.9M | $404.4M | $84.9M | $110.8M | $287.4M | $302.3M | $45.5M | — |
| Property, plant and equipment | $147.0K | $230.0K | $588.0K | $971.0K | $1.2M | $82.0K | $128.0K | — |
| Total assets | $937.9M | $483.1M | $87.9M | $115.1M | $292.7M | $303.2M | $47.7M | — |
| Accounts payable | $24.6M | $12.5M | $5.8M | $14.7M | $10.8M | $4.1M | $2.7M | — |
| Total current liabilities | $59.8M | $37.5M | $15.7M | $34.3M | $38.4M | $15.7M | $6.8M | — |
| Total liabilities | $59.8M | $37.7M | $18.3M | $39.0M | $41.9M | $15.7M | $7.6M | — |
| Retained earnings | -$1.14B | -$836.7M | -$653.9M | -$530.6M | -$316.6M | -$149.6M | -$81.0M | — |
| Total equity | $878.1M | $445.4M | $69.7M | $76.1M | $250.8M | $287.5M | -$81.0M | -$41.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$249.1M | -$131.8M | -$111.1M | -$185.0M | -$124.6M | -$52.6M | -$33.4M | — |
| Depreciation and amortisation | $140.0K | $358.0K | $432.0K | $419.0K | $182.0K | $50.0K | $37.0K | — |
| Stock-based compensation | $33.9M | $41.4M | $24.9M | $28.6M | $22.7M | $5.2M | $668.0K | — |
| Capital expenditure | $56.0K | $0 | $50.0K | $444.0K | $1.1M | $0 | $103.0K | — |
| Investing cash flow | -$311.1M | -$248.5M | $39.0M | $96.9M | -$140.5M | $0 | -$103.0K | — |
| Financing cash flow | $702.2M | $514.3M | $91.9M | $10.5M | $107.6M | $304.4M | $60.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001689548-26-000039.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0 | $2.4M | $8.6M | $0 |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$35.5M | -$61.8M | -$167.0M | -$214.0M | -$123.0M | -$183.0M | -$303.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Other event Item 8.01
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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