BOSTON, Jan. 06, 2026 (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 pricing of its underwritten public offering of 2,212,000 shares of its common stock at a public offering price per share of $260.00. The gross proceeds from the offering are expected to be approximately $575 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Praxis. All shares in the offering are being offered by Praxis. In addition, Praxis has granted the underwriters a 30-day option to purchase up to 331,800 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 8, 2026, subject to market conditions and the satisfaction of customary closing conditions.

Piper Sandler, TD Cowen, Guggenheim Securities and Truist Securities are acting as joint book-running managers for the offering. LifeSci Capital, Baird and Oppenheimer & Co. are acting as lead managers for the offering. H.C. Wainwright & Co. and Needham & Company are acting as co-managers for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3ASR, including a base prospectus, that was filed by Praxis with the Securities and Exchange Commission (SEC) and automatically became effective upon filing on December 23, 2024. A preliminary prospectus supplement related to the offering was filed with the SEC on January 6, 2026. The final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov . Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, when available, may be obtained from: Piper Sandler & Co., 350 North 5 th Street, Suite 1000, Minneapolis, MN 55401, Attention: Prospectus Department, by telephone at (800) 747-3924, or by email at [email protected] ; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] ; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at [email protected] ; or Truist Securities, Inc., Attention: Equity Capital Markets, 740 Battery Ave SE, Atlanta, Georgia 30339, by telephone at (800) 685-4786 or by email at [email protected]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding Praxis’ future expectations, plans and prospects, including, without limitation, statements regarding the timing of the completion, and anticipated gross proceeds, of the offering, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995.

The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation, risks related to market conditions and other risks described in Praxis’ Annual Report on Form 10-K for the year ended December 31, 2024, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and other filings made with the SEC. Although Praxis’ forward-looking statements reflect the good faith judgment of its management, these statements are based only on information and factors currently known by Praxis. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Praxis undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.