Praxis Precision Medicines, Inc. (PRAX) FY2025 10-K Annual Report
Praxis Precision Medicines, Inc. (PRAX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 19, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Praxis Precision Medicines, Inc. FY2025 10-K Analysis
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)
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
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
Praxis Precision Medicines, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$0
▼ -100.0% YoY
Net Income
-$303M
▼ -65.9% YoY
ROE
-34.5%
▲ +651bp YoY
Total Assets
$938M
▲ +94.1% YoY
EPS (Diluted)
$-13.48
▼ -32.0% YoY
Operating Cash Flow
-$249M
▼ -89.0% YoY
Source: XBRL data from Praxis Precision Medicines, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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