Praxis Stock Surges 231% After Positive Phase 3 Results For Ulixacaltamide

(RTTNews) - Praxis Precision Medicines, Inc. (PRAX) soared 231.14% to $190.00, gaining $132.65, after the company announced positive topline results from its two pivotal Phase 3 Essential3 studies evaluating ulixacaltamide in essential tremor.

Both trials met their primary endpoints with favorable safety and tolerability outcomes. Praxis' breakthrough results reduce clinical risk for its lead candidate, signaling strong potential for regulatory approval and commercial viability.

The stock opened at $158.29, hit a high of $180.00, and a low of $60.00, compared to the previous close of $57.35. It trades on the NasdaqGS with a volume of 5.94 million shares, well above its average daily volume.

The stock is trading near its 52-week high of $190.00, far above its 52-week low of $11.85.