Praxis sets up CNS drug approval in 2026

Praxis Precision Medicines (Nasdaq: PRAXI) surged 35% with shares reaching a value of $260, their highest value since the beginning of 2022. Current market capitalization is ~$6.5 billion, after EMBOLD study success and strong pipeline progress, reaching its highest valuation since early 2022.

The company announced positive results from the registrational cohort of the EMBOLD study evaluating relutrigine for the treatment of patients with SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs), following a recommendation by the Data Monitoring Committee to stop the study early for efficacy.

Data from Cohort 1 of the EMBOLD study demonstrated "sustained seizure reduction with continued exposure on top of standard-of-care" (SOC), with no drug related serious adverse treatment events, and improvements noted both in the clinical and daily life settings.