PRAX

MKT CAP:$7B

Praxis Precision Medicines, Inc.

Market Cap

$7B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$338.35+$51.95 (+18.14%)

Apr 24, 2026

Company Details

Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-prefer...

CEO

Marcio Silva De'Souza

IPO Date

Oct 16, 2020

Website

www.praxismedicines.com

Key Metrics TTM

Revenue

$0

-100.0% YoY

Net Income

-$303M

EPS (Diluted)

-$13.46

Free Cash Flow

-$249M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 1, 2026

PENDING

FY 2025

Feb 19, 2026

$0-100.0%EPS -$13.48

Q4 2025

Feb 19, 2026

$0-100.0%EPS -$3.50

Q3 2025

Nov 5, 2025

$0-100.0%EPS -$3.36

Q2 2025

Aug 4, 2025

$0-100.0%EPS -$3.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	-$53M	-$69M
Q2 22	$0	-$3M	-$60M
Q3 22	$0	-$30M	-$44M
Q4 22	$0	-$28M	-$41M
Q1 23	$683.0K	-$25M	-$38M
Q2 23	$781.0K	-$25M	-$35M
Q3 23	$468.0K	-$17M	-$26M
Q4 23	$515.0K	-$18M	-$28M
Q1 24	$431.0K	-$27M	-$42M
Q2 24	$357.0K	-$27M	-$37M
Q3 24	$302.0K	-$42M	-$57M
Q4 24	$7M	-$49M	-$64M
Q1 25	$0	-$61M	-$75M
Q2 25	$0	-$63M	-$76M
Q3 25	$0	-$66M	-$78M
Q4 25	$0	-$28.0K	-$97M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	10495.1x	—
Q2 23	4896.3x	—
Q3 23	3710.2x	—
Q4 23	2929.4x	—
Q1 24	3265.7x	—
Q2 24	4047.5x	—
Q3 24	4466.2x	—
Q4 24	838.1x	—
Q1 25	882.6x	—
Q2 25	923.1x	—
Q3 25	960.5x	—
Q4 25	—	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$54M	-$54M
Q2 22	-$57M	-$57M
Q3 22	-$45M	-$45M
Q4 22	-$29M	-$29M
Q1 23	-$33M	-$33M
Q2 23	-$31M	-$31M
Q3 23	-$23M	-$23M
Q4 23	-$24M	-$24M
Q1 24	-$21M	-$21M
Q2 24	-$27M	-$27M
Q3 24	-$28M	-$28M
Q4 24	-$56M	-$56M
Q1 25	-$53M	-$53M
Q2 25	-$55M	-$55M
Q3 25	-$65M	-$65M
Q4 25	-$77M	-$77M

Capital Expenditures

Quarter	CapEx
Q1 22	$289.0K
Q2 22	$110.0K
Q3 22	$45.0K
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$50.0K
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$120.0K
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+151.1%
Q2 22	—	+65.5%
Q3 22	—	-1.1%
Q4 22	—	-29.3%
Q1 23	—	-43.7%
Q2 23	—	-40.8%
Q3 23	—	-41.3%
Q4 23	—	-31.7%
Q1 24	-36.9%	+9.1%
Q2 24	-54.3%	+5.9%
Q3 24	-35.5%	+119.9%
Q4 24	+1349.1%	+152.2%
Q1 25	-100.0%	+76.6%
Q2 25	-100.0%	+101.0%
Q3 25	-100.0%	+37.1%
Q4 25	-100.0%	+35.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	—
Q2 22	$0	—
Q3 22	$0	—
Q4 22	$0	—
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$6M	1111.8%
Q1 24	$14M	3358.5%
Q2 24	$6M	1646.5%
Q3 24	$12M	4116.6%
Q4 24	$9M	114.9%
Q1 25	$9M	—
Q2 25	$8M	—
Q3 25	$7M	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$53M	$16M
Q2 22	$44M	$16M
Q3 22	$30M	$14M
Q4 22	$28M	$13M
Q1 23	$26M	$13M
Q2 23	$26M	$10M
Q3 23	$17M	$9M
Q4 23	$18M	$10M
Q1 24	$27M	$15M
Q2 24	$27M	$11M
Q3 24	$42M	$15M
Q4 24	$56M	$15M
Q1 25	$61M	$14M
Q2 25	$63M	$13M
Q3 25	$66M	$13M
Q4 25	$78M	$20M

Revenue Segments

Quarter	License
Q1 23	$700.0K
Q2 23	$800.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$78M	$145M	$223M
Q2 22	$56M	$109M	$165M
Q3 22	$62M	$61M	$124M
Q4 22	$62M	$39M	$100M
Q1 23	$81M	$5M	$86M
Q2 23	$124M	$0	$124M
Q3 23	$101M	$0	$101M
Q4 23	$81M	$0	$81M
Q1 24	$152M	$55M	$207M
Q2 24	$145M	$207M	$352M
Q3 24	$169M	$188M	$357M
Q4 24	$215M	$177M	$393M
Q1 25	$166M	$162M	$328M
Q2 25	$157M	$144M	$301M
Q3 25	$150M	$118M	$267M
Q4 25	$357M	$242M	$599M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	3M	+1.1%	+18.2%
Q2 22	3M	+0.2%	+9.6%
Q3 22	3M	+0.5%	+2.4%
Q4 22	3M	+4.0%	+5.8%
Q1 23	4M	+11.6%	+16.8%
Q2 23	5M	+31.3%	+53.1%
Q3 23	9M	+94.4%	+196.2%
Q4 23	9M	+0.2%	+185.6%
Q1 24	14M	+53.5%	+292.8%
Q2 24	19M	+35.4%	+304.9%
Q3 24	19M	+0.3%	+108.9%
Q4 24	20M	+5.8%	+120.5%
Q1 25	21M	+5.4%	+51.4%
Q2 25	21M	+2.0%	+14.1%
Q3 25	22M	+2.3%	+16.4%
Q4 25	23M	+2.4%	+12.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	139
Q2 22	$0	139
Q3 22	$0	139
Q4 22	$0	109
Q1 23	$6.3K	109
Q2 23	$7.2K	109
Q3 23	$4.3K	109
Q4 23	$6.3K	82
Q1 24	$5.3K	82
Q2 24	$4.4K	82
Q3 24	$3.7K	82
Q4 24	$64.3K	116
Q1 25	$0	116
Q2 25	$0	116
Q3 25	$0	116
Q4 25	$0	168

Revenue / Employee