$PRAX
Praxis Precision Medicines, Inc. Stock $prax

$prax Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 10-Q Financial Statement

#000168954823000159 Filed on November 07, 2023

Income Statement

Concept	2023 Q4	2023 Q3
Revenue	$515.0K	$468.0K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$9.933M	$8.720M
YoY Change	-24.31%	-37.04%
% of Gross Profit
Research & Development	$18.39M	$17.26M
YoY Change	-35.09%	-43.3%
% of Gross Profit
Depreciation & Amortization	$111.0K	$110.0K
YoY Change	5.71%	7.84%
% of Gross Profit
Operating Expenses	$28.32M	$25.98M
YoY Change	-31.68%	-41.33%
Operating Profit		-$25.52M
YoY Change		-42.39%
Interest Expense	$928.0K	$880.0K
YoY Change	231.43%	155.07%
% of Operating Profit
Other Income/Expense, Net		$884.0K
YoY Change		156.23%
Pretax Income	-$26.88M	-$24.63M
YoY Change	-34.72%	-43.95%
Income Tax
% Of Pretax Income
Net Earnings	-$26.88M	-$24.63M
YoY Change	-34.72%	-43.95%
Net Earnings / Revenue	-5219.03%	-5263.25%
Basic Earnings Per Share		-$0.18
Diluted Earnings Per Share	-$2.96	-$0.18
COMMON SHARES
Basic Shares Outstanding	128.6M shares	128.5M shares
Diluted Shares Outstanding		135.6M shares

Balance Sheet

Concept	2023 Q4	2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$81.30M	$101.1M
YoY Change	-19.1%	-18.3%
Cash & Equivalents	$81.30M	$101.1M
Short-Term Investments	$0.00	$0.00
Other Short-Term Assets	$3.580M	$2.200M
YoY Change	-65.41%	-74.34%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$84.88M	$103.3M
YoY Change	-23.42%	-21.91%
LONG-TERM ASSETS
Property, Plant & Equipment	$588.0K	$700.0K
YoY Change	-39.44%	-35.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$416.0K	$416.0K
YoY Change	0.0%	0.0%
Total Long-Term Assets	$3.068M	$3.398M
YoY Change	-28.45%	-25.97%
TOTAL ASSETS
Total Short-Term Assets	$84.88M	$103.3M
Total Long-Term Assets	$3.068M	$3.398M
Total Assets	$87.95M	$106.7M
YoY Change	-23.61%	-22.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$5.815M	$7.166M
YoY Change	-60.37%	-29.2%
Accrued Expenses	$7.416M	$6.979M
YoY Change	-53.21%	-60.98%
Deferred Revenue	$1.392M	$1.552M
YoY Change	-50.6%
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$15.75M	$16.79M
YoY Change	-54.14%	-42.06%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$2.530M	$3.200M
YoY Change	-45.91%	16.11%
Total Long-Term Liabilities	$2.530M	$3.200M
YoY Change	-45.91%	16.11%
TOTAL LIABILITIES
Total Short-Term Liabilities	$15.75M	$16.79M
Total Long-Term Liabilities	$2.530M	$3.200M
Total Liabilities	$18.28M	$19.97M
YoY Change	-53.16%	-37.08%
SHAREHOLDERS EQUITY
Retained Earnings	-$653.9M	-$627.0M
YoY Change	23.24%	28.09%
Common Stock	$13.00K	$13.00K
YoY Change	160.0%	160.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$69.67M	$86.76M
YoY Change
Total Liabilities & Shareholders Equity	$87.95M	$106.7M
YoY Change	-23.61%	-22.04%

Cashflow Statement

Concept	2023 Q4	2023 Q3
OPERATING ACTIVITIES
Net Income	-$26.88M	-$24.63M
YoY Change	-34.72%	-43.95%
Depreciation, Depletion And Amortization	$111.0K	$110.0K
YoY Change	5.71%	7.84%
Cash From Operating Activities	-$23.86M	-$23.22M
YoY Change	-17.17%	-48.31%
INVESTING ACTIVITIES
Capital Expenditures	$50.00K	$0.00
YoY Change		-100.0%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$0.00
YoY Change	-100.0%	-100.0%
Cash From Investing Activities	-$50.00K	$0.00
YoY Change	-100.22%	-100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	4.126M	0.000
YoY Change	-23.41%	-100.0%
NET CHANGE
Cash From Operating Activities	-23.86M	-23.22M
Cash From Investing Activities	-50.00K	0.000
Cash From Financing Activities	4.126M	0.000
Net Change In Cash	-19.78M	-23.22M
YoY Change	2298.18%	-462.76%
FREE CASH FLOW
Cash From Operating Activities	-$23.86M	-$23.22M
Capital Expenditures	$50.00K	$0.00
Free Cash Flow	-$23.91M	-$23.22M
YoY Change	-16.99%	-48.26%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q3	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	0	usd
CY2022Q4	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	38874000	usd
CY2022Q4	us-gaap	Assets Assets	115128000	usd
CY2023Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	7166000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	14672000	usd
CY2023Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	6979000	usd
CY2022Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	2818000	usd
CY2023Q3	us-gaap	Liabilities Current LiabilitiesCurrent	16792000	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	34345000	usd
CY2023Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	1661000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	2495000	usd
CY2023Q3	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	1516000	usd
CY2022Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	2182000	usd
CY2023Q3	us-gaap	Liabilities Liabilities	19969000	usd
CY2022Q4	us-gaap	Liabilities Liabilities	39022000	usd
CY2023Q3	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2023Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2022Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2023Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
CY2023Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
CY2022Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	45774376	shares
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	45774376	shares
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-24632000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-43945000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-96399000	usd
CY2023Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	0	usd
CY2022Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	144000	usd
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	173000	usd
CY2023Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-24632000	usd
CY2022Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-43801000	usd
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-96226000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	76106000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7593000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	18096000	usd
CY2023Q1	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	127000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	101000	usd
CY2023Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	154000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-37455000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	64468000	usd
CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	5775000	usd
CY2023Q2	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	4484000	usd
CY2023Q2	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	208000	usd
CY2023Q2	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	4000	usd
CY2023Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	19000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	-34312000	usd
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y
CY2023Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	700000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	971000	usd
CY2023Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2282000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2901000	usd
CY2023Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	416000	usd
CY2022Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	416000	usd
CY2023Q3	us-gaap	Assets Assets	106725000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	15850000	usd
CY2023Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1095000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1005000	usd
CY2023Q3	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	1552000	usd
CY2023Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	128547336	shares
CY2023Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	128547336	shares
CY2023Q3	us-gaap	Common Stock Value CommonStockValue	13000	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	5000	usd
CY2023Q3	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	713786000	usd
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	606918000	usd
CY2023Q3	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	0	usd
CY2022Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-173000	usd
CY2023Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-627043000	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-530644000	usd
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	86756000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	76106000	usd
CY2023Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	106725000	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	115128000	usd
CY2023Q3	us-gaap	Revenues Revenues	468000	usd
CY2022Q3	us-gaap	Revenues Revenues	0	usd
CY2023Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	8724000	usd
CY2022Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	13851000	usd
CY2023Q3	us-gaap	Operating Expenses OperatingExpenses	25984000	usd
CY2022Q3	us-gaap	Operating Expenses OperatingExpenses	44290000	usd
CY2023Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	-25516000	usd
CY2022Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	345000	usd
CY2023Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	884000	usd
CY2022Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	345000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-43945000	usd
CY2023Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.18
CY2023Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.18
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.12
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.12
CY2023Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	135591429	shares
CY2023Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	135591429	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	86447174	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	86447174	shares
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	105625000	usd
CY2023Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	5763000	usd
CY2023Q3	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	1000	usd
CY2023Q3	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	1000	usd
CY2023Q3	us-gaap	Net Income Loss NetIncomeLoss	-24632000	usd
CY2023Q3	us-gaap	Stockholders Equity StockholdersEquity	86756000	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	250812000	usd
CY2022Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7886000	usd
CY2022Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	1368000	usd
CY2022Q1	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	230000	usd
CY2022Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	333000	usd
CY2022Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-430000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-68717000	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	191022000	usd
CY2022Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	7611000	usd
CY2022Q2	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	454000	usd
CY2022Q2	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	17000	usd
CY2022Q2	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	67000	usd
CY2022Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-74000	usd
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-60194000	usd
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	138869000	usd
CY2022Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	6730000	usd
CY2022Q3	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	109000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	2962000	usd
CY2022Q3	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	6000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	409000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	144000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	-43945000	usd
CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	105163000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-96399000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-172856000	usd
	us-gaap	Depreciation Depreciation	321000	usd
	us-gaap	Depreciation Depreciation	314000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	19131000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	22227000	usd
	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	619000	usd
	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	556000	usd
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	-47000	usd
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	-807000	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-8109000	usd
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-2326000	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-7556000	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-658000	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-8871000	usd
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-8431000	usd
	prax	Increase Decrease In Operating Lease Liabilities IncreaseDecreaseInOperatingLeaseLiabilities	-744000	usd
	prax	Increase Decrease In Operating Lease Liabilities IncreaseDecreaseInOperatingLeaseLiabilities	-578000	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	-1932000	usd
	us-gaap	Increase Decrease In Contract With Customer Liability IncreaseDecreaseInContractWithCustomerLiability	0	usd
	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	0	usd
	us-gaap	Other Operating Activities Cash Flow Statement OtherOperatingActivitiesCashFlowStatement	56000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-87275000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-156237000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	0	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	444000	usd
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	0	usd
	us-gaap	Payments To Acquire Available For Sale Securities Debt PaymentsToAcquireAvailableForSaleSecuritiesDebt	83022000	usd
	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	39000000	usd
	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	157761000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	39000000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	74295000	usd
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	132000	usd
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	253000	usd
	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions	310000	usd
	us-gaap	Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions	1263000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	87745000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	5078000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	39470000	usd
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	us-gaap	Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	184000	usd
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	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	50000	usd
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	us-gaap	Nature Of Operations NatureOfOperations	Nature of the Business<div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Praxis Precision Medicines, Inc. (“Praxis” or the “Company”) is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for central nervous system, or CNS, disorders characterized by neuronal excitation-inhibition imbalance. Normal brain function requires a delicate balance of excitation and inhibition in neuronal circuits, which, when dysregulated, can lead to abnormal function and both rare and more prevalent neurological disorders. The Company is applying genetic insights to the discovery and development of therapies for neurological disorders through two proprietary platforms, using its understanding of shared biological targets and circuits in the brain. Each platform has multiple programs currently, with significant potential for additional program and indication expansion: </span></div><div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:13.8pt">Cerebrum</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">™, the Company's small molecule platform, utilizes deep understanding of neuronal excitability and neuronal networks and applies a series of computational and experimental tools to develop orally available precision therapies </span></div><div style="margin-top:9pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;padding-left:14.5pt">Solidus</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">™, the Company's antisense oligonucleotide, or ASO, platform, is an efficient, targeted precision medicine discovery and development engine anchored on a proprietary, computational methodology </span></div><div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's platforms utilize a deliberate, pragmatic and patient-guided approach, leveraging a suite of translational tools, including novel transgenic and predictive translational animal models and electrophysiology markers, to enable an efficient path to proof-of-concept in patients. Through this approach, the Company has established a diversified, multimodal CNS portfolio with four clinical-stage product candidates across movement disorders and epilepsy. For the Company's most advanced product candidate under the Cerebrum™ platform, ulixacaltamide (also known as PRAX-944), topline results from the Phase 2b Essential1 clinical trial in essential tremor ("ET"), were announced in the first quarter of 2023. The Company initiated its Phase 3 studies in ET in the fourth quarter of 2023, with enrollment expected to complete in the first half of 2024 and topline results expected in the second half of 2024. The Company initiated</span><span style="color:#ff0000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">its PRAX-562 Phase 2 EMBOLD study in the first quarter of 2023 and expects to announce topline results in the first half of 2024. The Company also announced positive results from its PRAX-628 Phase 1 study in May 2023. In June 2023, the Company initiated a Phase 2 proof of concept study evaluating PRAX-628 in patients with a Photo Paroxysmal Response ("PPR"), with results anticipated in the fourth quarter of 2023. Upon completion of the PPR study, Praxis plans to initiate a Phase 2 study of PRAX-628 in focal epilepsy in the first half of 2024. For the Company's most advanced product candidate under the Solidus™ platform, elsunersen (also known as PRAX-222), the Company completed dosing in the first cohort of its EMBRAVE study and announced preliminary data from the first dose cohort in October 2023. </span></div><div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Praxis was incorporated in 2015 and commenced operations in 2016. The Company has funded its operations primarily with proceeds from the issuance of redeemable convertible preferred stock, and from the sale of common stock and pre-funded warrants through an initial public offering, follow-on public offerings and at-the-market offerings under its shelf registration statement. From inception through September 30, 2023, the Company raised $613.6 million in aggregate cash proceeds from these transactions, net of issuance costs. </span></div><div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including but not limited to, risks associated with completing preclinical studies and clinical trials, receiving regulatory approvals for product candidates, development by competitors of new biopharmaceutical products, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Programs currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-15, </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued.</span></div><div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has incurred recurring losses since its inception, including a net loss of $96.4 million for the nine months ended September 30, 2023. In addition, as of September 30, 2023, the Company had an accumulated deficit of $627.0 million. The Company expects to continue to generate operating losses for the foreseeable future.</span></div><div style="margin-top:12pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company expects that its cash and cash equivalents as of September 30, 2023 of $101.1 million will be sufficient to fund the operating expenditures and capital expenditure requirements necessary to advance its research efforts and clinical trials for at least one year from the date of issuance of these condensed consolidated financial statements. The analysis included consideration of the Company's current financial needs and ongoing research and development plans, which are limited to advancing product candidates through, but not beyond, their current clinical trials. As a result, the Company concluded that it did not identify conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date these condensed consolidated financial statements were issued. The Company’s current operating plan is based on assumptions that may prove to be wrong, and the Company could use its capital resources sooner than it expects. In this case, the Company would evaluate further reductions in its expenses or to obtain additional financing sooner than it otherwise would, which may not be available or may only be available on terms that are not acceptable to the Company.</span></div>
CY2023Q3	prax	Number Of Platforms NumberOfPlatforms	2	platform
CY2023Q3	prax	Number Of Product Candidates NumberOfProductCandidates	4	candidate
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	613600000	usd
	us-gaap	Net Income Loss NetIncomeLoss	-96400000	usd
CY2023Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-627000000	usd
CY2023Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	101100000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the </span></div>disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, accrued and prepaid research and development expense, collaboration revenue, stock-based compensation expense and the recoverability of the Company’s net deferred tax assets and related valuation allowance. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ materially from those estimates.
CY2022Q4	us-gaap	Debt Securities Available For Sale Amortized Cost Current DebtSecuritiesAvailableForSaleAmortizedCostCurrent	39047000	usd
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CY2022Q4	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	38874000	usd
CY2022Q4	us-gaap	Debt Securities Available For Sale Unrealized Loss Position Number Of Positions DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions	7	security
CY2022Q4	us-gaap	Debt Securities Available For Sale Unrealized Loss Position DebtSecuritiesAvailableForSaleUnrealizedLossPosition	38900000	usd
CY2023Q3	prax	Accrued External Research And Development Expenses Current AccruedExternalResearchAndDevelopmentExpensesCurrent	4348000	usd
CY2022Q4	prax	Accrued External Research And Development Expenses Current AccruedExternalResearchAndDevelopmentExpensesCurrent	10734000	usd
CY2023Q3	prax	Accrued Personnel Related Expenses Current AccruedPersonnelRelatedExpensesCurrent	2020000	usd
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CY2023Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	611000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	2313000	usd
CY2023Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	6979000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	15850000	usd
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
CY2023Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000	shares
CY2023Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
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CY2022Q4	us-gaap	Common Stock Capital Shares Reserved For Future Issuance CommonStockCapitalSharesReservedForFutureIssuance	12072855	shares
CY2023Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
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CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
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CY2023Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	12.59
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P7Y5M8D
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CY2023Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	9876256	shares
CY2023Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	10.90
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CY2023Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0435
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.0357
CY2023Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y
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CY2023Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	5763000	usd
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	6730000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	19131000	usd
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CY2023Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	10671584	shares
CY2022Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	9997016	shares
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	us-gaap	Restructuring And Related Cost Incurred Cost RestructuringAndRelatedCostIncurredCost	1000000.0	usd

Files In Submission

Name	View Source	Status
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0001689548-23-000159-index.html	Edgar Link	pending
0001689548-23-000159.txt	Edgar Link	pending
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exhibit31220230930.htm	Edgar Link	pending
exhibit32120230930.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
prax-20230930.htm	Edgar Link	pending
prax-20230930.xsd	Edgar Link	pending
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R29.htm	Edgar Link	pending
prax-20230930_cal.xml	Edgar Link	unprocessable
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prax-20230930_htm.xml	Edgar Link	completed
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R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$PRAX
Praxis Precision Medicines, Inc. Stock $prax

2023 Q4 Form 10-Q Financial Statement

#000168954823000159 Filed on November 07, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

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$PRAX Praxis Precision Medicines, Inc. Stock $prax

2023 Q4 Form 10-Q Financial Statement

#000168954823000159 Filed on November 07, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PRAX
Praxis Precision Medicines, Inc. Stock $prax