BUZZ-Praxis slumps as anti-tremor drug study unlikely to meet the main goal

Shares of drug developer Praxis Precision Medicines PRAX.O fall 39.2% to $39.51 premarket, set to open at an over eight-month low

Co says an independent committee has recommended stopping its tremor drug trial, as it was unlikely to meet the main goal of the study; PRAX says it will continue the trial with changes to its analysis methods

The experimental drug, ulixacaltamide, is being tested in the late-stage study to treat essential tremor, a condition that affects the nervous system and causes involuntary and rhythmic shaking

Stock has risen 33.1% in the past 12 months