Praxis : Phase 2/3 Study Of PRAX-114 In Major Depressive Disorder Fails To Meet Primary Goal

(RTTNews) - Praxis Precision Medicines Inc. (PRAX) said that phase 2/3 Aria Study, which evaluated the efficacy and safety of PRAX-114 for monotherapy treatment of major depressive disorder (MDD), did not achieve statistical significance on the primary endpoint of change from baseline in the 17-item Hamilton Depression Rating Scale (HAM-D17) total score at Day 15, or on any secondary endpoints.

The company noted that it will reduce its workforce and future operating expenses. As a result of the strategic realignment, the company's cash runway will now extend into 2024.

The strategic alignment will focus on delivering Phase 2b results for PRAX-944 in essential tremor (Essential1 Study) and proof-of-concept for PRAX-562 in epilepsy and advancing the pre-clinical pipeline, the company said.