CNS biotech Praxis Precision Medicine files for a $100 million IPO

Praxis Precision Medicines, a Phase 2 biotech developing therapies for CNS disorders using genetic insights, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The company’s pipeline contains its most advanced candidates, PRAX-114 and PRAX-944, which are in Phase 2 development for major depressive disorder/perimenopausal depression and essential tremor, respectively. The company plans to initiate a Phase 2/3 trial for PRAX-114 in the US and Australia in the 4Q20, with topline data expected in the 2H21.

The Cambridge, MA-based company was founded in 2015 and plans to list on the Nasdaq under the symbol PRAX. Praxis Precision Medicines filed confidentially on July 22, 2020. Cowen, Evercore ISI and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.

The article CNS biotech Praxis Precision Medicine files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article