Praxis Precision Medicines slips after announcing equity offering plans

Praxis Precision Medicines PRAX.O shares down 4% in extended trading to $262.01 as it looks to raise equity

Biopharma co announces proposed offering of stock and pre-funded warrants; deal size not disclosed

Co intends to use net proceeds for potential commercialization of late-stage product candidates, to continue R&D activities of clinical-stage product candidates, among other uses, per the offering prospectus

Piper Sandler, TD Cowen, Guggenheim and Truist joint bookrunners

Boston, Massachusetts-based firm has ~25.2 mln shares outstanding as of Dec 31 for roughly $7 bln market cap

On Dec 29, PRAX rose 13% to close at $304.58 after U.S. FDA granted "breakthrough" tag for co's experimental drug, ulixacaltamide, to treat patients with essential tremor

Stock, which nearly tripled in 2025, ended down 1.5% at $272.90 on Tues

14 of 15 analysts rate PRAX "strong buy" or "buy", while 1 has "strong sell"; median PT $450, per LSEG data