Praxis Precision Medicines, Inc. Announces Pricing of $525 Million Public Offering

BOSTON, Oct. 16, 2025 (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 3,025,480 shares of its common stock at a public offering price per share of $157.00 and, in lieu of shares of common stock, pre-funded warrants to purchase up to an aggregate of 318,470 shares of common stock at a purchase price of $156.9999 per pre-funded warrant, which equals the public offering price per share of the common stock less the $0.0001 per share exercise price of each pre-funded warrant. The gross proceeds from the offering are expected to be approximately $525 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Praxis. All shares and pre-funded warrants in the offering are being offered by Praxis. In addition, Praxis has granted the underwriters a 30-day option to purchase up to 501,592 additional shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 20, 2025, subject to market conditions and the satisfaction of customary closing conditions.

TD Cowen, Piper Sandler, Guggenheim Securities and Truist Securities are acting as joint book-running managers for the offering. Oppenheimer & Co. and H.C. Wainwright & Co. are acting as lead 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 October 16, 2025. 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: TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [e-mail]; Piper Sandler & Co., 350 North 5^th Street, Suite 1000, Minneapolis, MN 55401, Attention: Prospectus Department, by telephone at [phone], or by email at [e-mail]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at [phone], or by email at [e-mail]; or Truist Securities, Inc., Attention: Equity Capital Markets, 740 Battery Ave SE, Atlanta, Georgia 30339, by telephone at [phone] or by email at [e-mail]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.