PRAX at a glance
Praxis Precision Medicines, Inc. (PRAX, SEC CIK 1689548) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 6, 2026 and Form 4 insider filings as recently as July 8, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Praxis Precision Medicines, Inc. (PRAX) reported revenue of $0 (down 100.0% from FY2024) and a net loss of $303.3 million. Diluted EPS was -$13.48.
- As of June 30, 2026, 32 institutional investment managers tracked by SignalX reported holding Praxis Precision Medicines, Inc. (PRAX) shares worth $4.2 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by DeSimone Jill on June 24, 2026 of 1,240 shares at $308.24 per share.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $0
- −100.0% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 32 funds
- $4.2B · +2 vs prior quarter
- Latest 8-K
- Aug 6, 2026
- Item 2.02 · Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Precision neuroscience biopharma developing therapies for CNS disorders from genetic epilepsies via two platforms, Cerebrum™ (small molecules) and Solidus™ (antisense oligonucleotides)
- New emphasis on clinical development with four clinical-stage candidates; submitted NDAs for ulixacaltamide (essential tremor) and relutrigine (SCN2A-DEE, SCN8A-DEE)
- Strategic shift to expanded clinical and commercial preparations for NDA-stage assets and ongoing Phase 3 programs (POWER1, POWER2 for vormatrigine) targeting broader epilepsy and CNS disorders
- Quantitative highlight: ~7 million US essential tremor patients, 54% median seizure reduction in RADIANT vormatrigine Phase 2, 53% placebo-adjusted seizure reduction with relutrigine in EMBOLD Phase 2
- Noteworthy: FDA granted Breakthrough Therapy Designation for ulixacaltamide and relutrigine; first commercial collaboration in Greater China for ulixacaltamide launched
Risk Factors
- Regulatory risk: ongoing FDA review of NDAs for ulixacaltamide (essential tremor) and relutrigine (SCN2A and SCN8A DEEs) with uncertain approval timing or outcome
- Macroeconomic exposure: cash runway extends into 2028 but risks of faster cash burn due to increased R&D, clinical trials, or unexpected costs
- Supply chain vulnerability: potential delays or failure in manufacturing scale-up or third-party clinical/commercial supply arrangements
- Competitive risk: failure to address competing technologies or market acceptance risks amid evolving neurology drug landscape
- Financial risk: accumulated deficit $1.1 billion with net losses $303.3 million in 2025 and $182.8 million in 2024, requiring additional capital raising that could dilute shareholders
Management Discussion & Analysis
- No revenues reported; focused on R&D and pre-commercial activities with expected substantial operating expense increases
- Operating losses expected to grow due to advancing clinical trials, commercialization prep, and infrastructure buildout; no margin % disclosed
- No segment performance breakdown; primary activities in Cerebrum™ and Solidus™ platforms with collaborative IP licensing arrangements
- Cash, cash equivalents, and marketable securities plus January 2026 follow-on offering proceeds expected to fund operations into 2028; lease and licensing commitments total $1.6M plus milestone payments (e.g., $3.0M to RogCon, $6.9M to Ionis)
- Risks: high R&D costs, uncertainty of approval and commercialization, potential need for additional capital with dilution risk, market volatility affecting funding access
AI summary of the PRAX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $0, unchanged YoY; no product sales since inception
- Net loss $83.7M vs $71.1M YoY; operating loss $96.9M vs $76.1M
- Solidus R&D $8.7M vs $2.0M; Cerebrum R&D $40.4M vs $47.0M
- Cash, equivalents and marketable securities $1.4B at June 30, 2026; funding expected into 2028
- Near-term catalysts: relutrigine PDUFA December 27, 2026; ulixacaltamide PDUFA January 29, 2027; vormatrigine POWER1 endpoint failure headwind
Risk Factors
- No material changes to 10-K risk factors for year ended December 31, 2025
- Regulatory and compliance risks carried forward from February 19, 2026 10-K
- Operational and competitive risks unchanged from 2025 Annual Report
- Financial and liquidity risks unchanged from 2025 Annual Report
AI summary of the PRAX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Fiscal results announced for quarter ended June 30, 2026
- Press release furnished as Exhibit 99.1, containing detailed financial results and management commentary
Item 7.01: Regulation FD Disclosure
- Updated corporate presentation for investor and analyst meetings as of August 6, 2026
- Presentation available on Praxis’s investor website and furnished as Exhibit 99.2
Item 8.01: Other Events
- Collaboration with Remagine to develop an iontophoretic transdermal ulixacaltamide patch for essential tremor
- Multi-day dosing platform could expand ulixacaltamide’s addressable patient population beyond the oral program
Item 4.01: Changes in Registrant's Certifying Accountant
- EY dismissed effective June 29, 2026 after auditing fiscal years 2025 and 2024
- EY audit reports contained no adverse opinions, disclaimers, qualifications or modifications
AI summaries of PRAX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PRAX
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Souza Marcio | G | Jul 8, 2026 | 20,521 | - |
| Souza Marcio | G | Jul 8, 2026 | 2,600 | - |
| DeSimone Jill | Sell | Jun 24, 2026 | 1,240 | $308.24 |
| DeSimone Jill | Sell | Jun 24, 2026 | 10 | $301.44 |
| DeSimone Jill | Sell | Jun 24, 2026 | 320 | $305.31 |
| DeSimone Jill | Sell | Jun 24, 2026 | 683 | $306.77 |
| DeSimone Jill | M | Jun 24, 2026 | 8,566 | $44.25 |
| DeSimone Jill | Sell | Jun 24, 2026 | 120 | $303.13 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $2.4M | $8.6M | $0 |
| Operating Income | - | -$200.2M | -$326.2M |
| Net Income | -$123.3M | -$182.8M | -$303.3M |
| Op. Margin | - | -2340.3% | - |
| Net Margin | -5037.9% | -2137.5% | - |
| Balance Sheet | |||
| Total Assets | - | $483.1M | $937.9M |
| Equity | - | $445.4M | $878.1M |
| ROE | - | -41.0% | -34.5% |
| Per Share | |||
| EPS | $-18.69 | $-10.21 | $-13.48 |
| Cash Flow | |||
| Operating CF | -$111.1M | -$131.8M | -$249.1M |
| CapEx | - | $0 | $56K |
Source: XBRL data in Praxis Precision Medicines, Inc. (PRAX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PRAX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 32 | $4.24B |
| Q1 2026 | 30 | $3.54B |
| Q4 2025 | 29 | $2.81B |
| Q3 2025 | 23 | $397.9M |
| Q2 2025 | 21 | $321.3M |
| Q1 2025 | 19 | $171.8M |
| Q4 2024 | 17 | $238.8M |
| Q3 2024 | 13 | $106.3M |
- Vanguard Portfolio Management LLC+578.4K (+76%)
- Invesco Ltd+476.2K (+776%)
- T. Rowe Price Group+312.1K (+49%)
- FMR LLC (Fidelity)+156.0K (+7%)
- State Street Corp+142.2K (+16%)
- Goldman Sachs Group−161.9K (-23%)
- JPMorgan Chase & Co−36.1K (-45%)
- BlackRock−32.3K (-1%)
- Prudential Financial−11.0K (-36%)
- Millennium Management−2.8K (-74%)
- Citadel Advisors LLC+7.3K
- D.E. Shaw & Co+5.1K
Source: 13F-HR filings on SEC EDGAR (aggregated from 184 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PRAX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 8, 2026 | - | - | - |
| 8-K | Jul 7, 2026 | - | Analysis | - |
| 8-K | Jul 2, 2026 | - | Analysis | - |
| 8-K | Jun 29, 2026 | - | Analysis | - |
| 4 | Jun 26, 2026 | - | - | - |
| 8-K | Jun 22, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | Jun 1, 2026 | - | Analysis | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| SC 13G | May 15, 2026 | - | - | |
| 8-K | May 7, 2026 | - | Analysis |
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PRAX SEC filings: frequently asked questions
Which institutions hold PRAX stock?
As of June 30, 2026, the largest Praxis Precision Medicines, Inc. (PRAX) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($775.7 million), BlackRock ($767.5 million), Vanguard Portfolio Management LLC ($447.0 million), Vanguard Capital Management LLC ($413.6 million), State Street Corp ($343.7 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PRAX's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Praxis Precision Medicines, Inc. (PRAX) reported revenue of $0 (down 100.0% from FY2024) and a net loss of $303.3 million. Diluted EPS was -$13.48. The figures come from the XBRL data in the 10-K.
What are the main risks in PRAX's latest 10-K?
In the 10-K filed February 19, 2026, Praxis Precision Medicines, Inc. (PRAX) flagged: Regulatory risk: ongoing FDA review of NDAs for ulixacaltamide (essential tremor) and relutrigine (SCN2A and SCN8A DEEs) with uncertain approval timing or outcome. Macroeconomic exposure: cash runway extends into 2028 but risks of faster cash burn due to increased R&D, clinical trials, or unexpected costs. (AI summary of the Risk Factors section.)
What did PRAX report in its latest 8-K?
Praxis Precision Medicines, Inc. (PRAX) filed an 8-K on August 6, 2026 reporting Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure). Fiscal results announced for quarter ended June 30, 2026.
What are the latest PRAX SEC filings?
Praxis Precision Medicines, Inc. (PRAX) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 6, 2026 and a Form 4 insider filing on July 8, 2026.
What is PRAX's SEC CIK number?
Praxis Precision Medicines, Inc. (PRAX)'s SEC Central Index Key (CIK) is 1689548. EDGAR lists every PRAX filing under that number.
Ask anything about PRAX
The research agent reads PRAX's filings, financials, insider trades and 13F holders, then answers with sources.