Praxis jumps on positive meeting with FDA for tremor drug, epilepsy trial success

Shares of drug developer Praxis Precision Medicines PRAX.O rise 31% to $249.27 premarket

Co late on Thursday said U.S. FDA has agreed on NDA for its tremor drug, ulixacaltamide

NDA stands for "New Drug Application"

Co also reported positive interim results for its rare epilepsy treatment, relutrigine

"Preliminary checks suggest peak sales could exceed $2.5 billion and sees meaningful catalysts ahead, including NDA acceptance and potential approval in 2026” - Jefferies

Co's ulixacaltamide showed meaningful benefit for essential tremor, a condition causing involuntary shaking

Up to last close, stock up ~147% YTD