Praxis Precision Medicines (PRAX) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 13, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-3.6

Last Year’s EPS

-3.29

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 16 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 19, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call emphasized major clinical and regulatory progress (two NDAs filed, positive Phase III results, Breakthrough Therapy designation, multiple near-term readouts) and a strengthened balance sheet (pro forma ~$1.5B) enabling commercialization. Offsetting this are materially higher operating expenses (full-year OpEx +56% y/y), an anticipated further increase in 2026 to support launches, and commercial/payer timing uncertainties (including IRA considerations and label/titration questions). Overall, the highlights — substantial clinical validation, regulatory progress, clear launch planning, and strong cash runway — outweigh the lowlights related to cost increases and access timing risk.

Company Guidance

Praxis provided detailed near‑term regulatory, clinical and financial guidance: the company has submitted two NDAs (ulixacaltamide for essential tremor and relutrigine for SCN2A/SCN8A DEEs), expects POWER1 topline results for vormatrigine and EMBRAVE (elsunersen) data next quarter, aims to complete POWER2 enrollment in H2 2026 and EMERALD enrollment this year (targeting an sNDA from EMERALD by 2027), and converted EMBRAVE3 to a single‑arm baseline‑controlled design of ~30 patients with potential NDA next year (with topline data from the original nine‑patient EMBRAVE Part A due in H1). They reiterated key population and peak‑revenue assumptions: >7M people in the U.S. with ET (≈2M addressable) and >$10B peak for ulixacaltamide; ~10k initial U.S. SCN2A/SCN8A patients and >200k broader DEE patients with up to $5B potential for relutrigine; ~3M U.S. common epilepsy patients and >$4B potential for vormatrigine; and >$1B potential for elsunersen — cumulatively >$20B opportunity. Financially, Q4 2025 operating expenses were $97M (R&D $77.5M; G&A $19.5M), full‑year op ex $326M vs $209M in 2024, cash was $926M at year‑end (vs $469M a year earlier) plus $621M raised in January for pro forma cash ≈$1.5B expected to fund operations into 2028, and 2026 spend is expected to rise materially to support commercial launches, prelaunch hires, inventory build and a medical‑education campaign (15 presentations planned at AAN in April).

Two NDA Submissions

Praxis submitted two NDAs in early 2026: ulixacaltamide for essential tremor and relutrigine for SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs). Both submissions follow positive clinical readouts and productive FDA interactions.

Positive Phase III / Clinical Readouts

Ulixacaltamide (Essential3) met primary and key secondary endpoints with clinically meaningful benefit and received FDA Breakthrough Therapy designation in December. Relutrigine delivered statistically significant, rapid and durable efficacy in EMBOLD (SCN2A/SCN8A). Vormatrigine RADIANT Phase III showed 58% of patients achieving ≥50% seizure reduction at week 1 and 100% median weekly seizure reduction in OLE at week 9 (sustained to week 16).

Multiple Near-Term Catalysts

Upcoming readouts and milestones include: POWER1 topline for vormatrigine in focal epilepsy expected in Q2 2026, elsunersen EMBRAVE Part A topline from original nine patients expected H1 2026, completion of POWER2 enrollment by end of 2026, EMBRAVE3 enrollment completion and potential NDA for elsunersen later in 2026, and EMERALD enrollment completion (relutrigine broader DEE) in 2026 with potential sNDA by 2027.

Strong Balance Sheet and Cash Runway

Praxis ended Q4 2025 with $926 million in cash, equivalents and marketable securities versus $469 million at 12/31/2024 (increase of $457 million, approximately +97%). Subsequent January 2026 offering raised $621 million, resulting in pro forma cash of ~ $1.5 billion, which management expects will fund operations into 2028.

Commercial Readiness

Company is building commercial infrastructure and inventory for two near-term launches (ulixacaltamide and relutrigine), including key hires, medical education planning (major presence at AAN with ~15 presentations), and prelaunch activities designed to support a U.S. launch.

Large Addressable Markets and Revenue Potential

Management estimates: ulixacaltamide addressable ET population of ~2 million U.S. patients (7+ million with ET overall) with >$10 billion annual potential; relutrigine initial SCN2A/SCN8A U.S. addressable ~10,000 patients with potential expansion to 200,000+ DEE patients and up to ~$5 billion annual potential; vormatrigine addressable ~3 million with ~$4 billion peak potential; elsunersen potential >$1 billion.

Regulatory and Exclusivity Advantages

Relutrigine and elsunersen have Rare Pediatric Disease designation, making them eligible for pediatric review vouchers upon approval, which could add commercial and strategic value.

Praxis Precision Medicines (PRAX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

PRAX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2026	2026 (Q1)	-3.60 / -	-3.29	―	―	―
Feb 19, 2026	2025 (Q4)	-3.13 / -3.50	-2.94	-19.05% (-0.56)	―
Nov 05, 2025	2025 (Q3)	-3.47 / -3.36	-2.75	-22.18% (-0.61)	―	―
Aug 04, 2025	2025 (Q2)	-3.25 / -3.31	-1.74	-90.23% (-1.57)
May 02, 2025	2025 (Q1)	-3.21 / -3.29	-2.84	-15.85% (-0.45)	―	―
Feb 28, 2025	2024 (Q4)	-2.85 / -2.94	-2.97	1.01% (+0.03)	―	―
Nov 06, 2024	2024 (Q3)	-1.99 / -2.75	-2.7	-1.85% (-0.05)	―
Aug 13, 2024	2024 (Q2)	-2.31 / -1.74	-7.35	76.33% (+5.61)	―
May 12, 2024	2024 (Q1)	-2.08 / -2.84	-10.65	73.33% (+7.81)	―	―
Mar 05, 2024	2023 (Q4)	-3.05 / -2.97	-13.05	77.24% (+10.08)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PRAX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 19, 2026	$328.93	$331.61	+0.81%
Nov 05, 2025	$171.75	$164.64	-4.14%
Aug 04, 2025	$54.09	$51.09	-5.55%
May 02, 2025	$38.06	$40.24	+5.73%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Praxis Precision Medicines (PRAX) report earnings?

Praxis Precision Medicines (PRAX) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).

What is Praxis Precision Medicines (PRAX) earnings time?

Praxis Precision Medicines (PRAX) earnings time is at May 13, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

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What is PRAX EPS forecast?

PRAX EPS forecast for the fiscal quarter 2026 (Q1) is -3.6.