Praxis Precision Medicines announces proposed public stock offering

Praxis Precision Medicines, Inc. (NASDAQ: PRAX) announced a proposed public offering of common stock and pre-funded warrants. The clinical-stage biopharmaceutical company, which develops therapies for central nervous system disorders, will offer all securities in the proposed offering.

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.

Piper Sandler, TD Cowen, Guggenheim Securities and Truist Securities serve as joint book-running managers. LifeSci Capital, Baird and Oppenheimer & Co. act as lead managers, while H.C. Wainwright & Co. and Needham & Company serve as co-managers.

The offering operates under a shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission that became effective December 23, 2024. The company stated the offering remains subject to market and customary closing conditions, with no assurance regarding completion timing.

Praxis focuses on translating genetic insights into therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. The offering will be conducted through a preliminary prospectus supplement and accompanying base prospectus, according to the company's statement.

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