What does Praxis do and what are its main business segments?

What is Praxis's latest dividend and current dividend yield?

What were the key takeaways from Praxis's earnings call?

What guidance did Praxis's management provide for the next earnings period?

What factors drove the changes in Praxis's revenue and profit?

What is the market's earnings forecast for Praxis next quarter?

Did Praxis beat or miss consensus estimates last quarter?

What were the key takeaways from Praxis’s earnings call?

- **Breakthrough Efficacy**: Vormatrigine achieved 56% median seizure reduction and 22% seizure-free rate in RADIANT, outperforming cenobamate even in high-dose patients.
- **Fast-Acting & Tolerable**: 54% of patients responded by week 1, with only 20% adverse event rate vs. competitors.
- **Strategic Pipeline**: POWER2 (40mg dose added) and POWER3 (monotherapy) studies to expand label, targeting $2-3B hyperrefractory epilepsy market.
- **Mood Benefits**: Observed mood improvements may support broader CNS applications, with formal endpoints added to future trials.

**【CEO Opening Remarks】**
- Announced best-in-disease results for vormatrigine in the RADIANT study, highlighting 56% median seizure reduction and 22% seizure-free rate.
- Emphasized vormatrigine's unique profile: once-daily dosing, fast-acting, no food effect, and no significant drug-drug interactions.
- Discussed the company's robust pipeline with 4 late-stage assets and 5 clinical readouts expected within the next year.
- Highlighted strong recruitment capabilities, with 99 patients screened for the POWER1 study as of July 25, 2025.

**【CSO (Steve Petrou) Study Details】**
- RADIANT study design: 28-day baseline observation followed by 8 weeks of 30mg vormatrigine.
- Key results:
  - 56% median seizure reduction (vs. 30% on cenobamate).
  - 60% responder rate (≥50% reduction), with 22% seizure-free.
  - Rapid onset: 54% response by week 1, 67% by week 8.
- Safety: 23% discontinuation rate, primarily due to background ASM adjustments.
- Notable: 30% of patients were on high-dose cenobamate (≥300mg), yet still achieved 55% response.

**【CEO Future Pipeline Update】**
- POWER2 study (400 patients, 12 weeks) to test 20mg, 30mg, and 40mg doses, with enrollment expected to complete in 2026.
- Added 40mg dose arm based on RADIANT modeling for potential higher efficacy.
- POWER3 study (monotherapy) to initiate in early 2026, targeting refractory epilepsy patients transitioning off background ASMs.
- Highlighted mood improvement observations in RADIANT, leading to inclusion of depression/mood endpoints in POWER2.

**【Q&A Highlights】**
- **Efficacy Across Background Therapies**: Consistent response rates (55-57%) across sodium channel blockers, SV2A modulators, and cenobamate.
- **Discontinuation Rate Insights**: 6 patients with proactive background ASM reduction had no AEs or discontinuations.
- **POWER1 Enrollment**: 99 patients screened as of July 25, with final data expected by year-end 2025.
- **Safety Profile**: Vormatrigine AE rate (20%) significantly lower than competitors, with no meaningful drug-drug interactions.
- **Market Potential**: $2-3B addressable market for hyperrefractory epilepsy, with vormatrigine uniquely positioned for monotherapy.


Praxis Precision Medicines, Inc. (PRAX) Q2 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

PRAX

PRAX fundamentals

You can ask Aime