Praxis precision medicines announces closing of financing and reiterates corporate priorities

Strong demand for financing including full exercise of overallotment option with net proceeds of $63.3 million cash runway extended into q1 2025 phase 2 photoparoxsymal response (ppr) study to evaluate prax-628 expected to read-out by ye 2023 plan to begin ulixacaltamide phase 3 enrollment in q4 2023 to support a 2025 nda filing boston, june 22, 2023 (globe newswire) -- praxis precision medicines, inc. (nasdaq: prax), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (cns) disorders characterized by neuronal excitation-inhibition imbalance, today announced the closing of the underwritten public offering of shares of common stock and pre-funded warrants, including the full exercise of the underwriters' overallotment option. the net proceeds from the offering are $63.3 million, after deducting underwriting discounts and commissions and estimated offering expenses.
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