Praxis Precision Medicines Inc
PRAXHealthcare|Biotechnology|USA
$323.81
-8.39 (-2.52%)
Tangible Book
$50.61
Earnings Power
$6.56
Financials
Financial Snapshot
Market Cap
$9.03B
Enterprise Value
$785.4M
Revenue (TTM)
$0.00
Net Income (TTM)
$-326.5M
Cash & Equivalents
—
Net Cash/Share
$26.44
Free Cash Flow (TTM)
$-282.3M
Operating CF (TTM)
$-282.2M
Debt/Equity
0
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$70.6M
Monthly Burn
$23.5M
Est. Runway
—
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $17.9M | $44.8M | $296.6M | $275.9M | $100.5M | $81.3M | $392.6M | $599.3M | $786.9M | |
| Operating Cash Flow | $-20.7M | $-33.4M | $-52.6M | $-124.6M | $-185.0M | $-111.1M | $-131.8M | $-249.1M | $-282.2M | |
| Free Cash Flow | $-20.8M | $-33.5M | $-52.6M | $-125.6M | $-185.5M | $-111.2M | $-131.8M | $-249.1M | $-282.3M | |
| Capital Expenditure | $-63.0K | $-103.0K | $0.00 | $-1.1M | $-444.0K | $-50.0K | $0.00 | $-56.0K | $-62.0K | |
| Financing Cash Flow | $37.8M | $60.4M | $304.4M | $107.6M | $10.5M | $91.9M | $514.3M | $702.2M | $1.26B |
R&D Spending
R&D (TTM)
$284.3M
R&D Intensity
—
R&D Growth YoY
+6.4%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.4M | $8.6M | $0.00 | $0.00 | |
| R&D Expense | $18.8M | $29.6M | $45.0M | $120.3M | $155.0M | $86.8M | $152.4M | $267.1M | $284.3M | |
| R&D % of Revenue | — | — | — | — | — | 3545.8% | 1782.0% | — | — | |
| SG&A | $3.9M | $6.2M | $17.0M | $47.1M | $59.9M | $42.1M | $56.3M | $59.1M | $73.0M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.4M | $8.6M | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.4M | $8.6M | $0.00 | $0.00 | |
| R&D | $18.8M | $29.6M | $45.0M | $120.3M | $155.0M | $86.8M | $152.4M | $267.1M | $284.3M | |
| SG&A | $3.9M | $6.2M | $17.0M | $47.1M | $59.9M | $42.1M | $56.3M | $59.1M | $73.0M | |
| Operating Income | $-22.7M | $-35.8M | $-62.0M | $-167.3M | $-215.0M | $-126.4M | $-200.2M | $-326.2M | $-357.3M | |
| Interest Expense | $-127.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-26.4M | $-35.6M | $-61.8M | $-167.1M | $-214.0M | $-123.3M | $-182.8M | $-303.3M | $-326.5M | |
| Net Income | $-26.5M | $-35.5M | $-61.8M | $-167.1M | $-214.0M | $-123.3M | $-182.8M | $-303.3M | $-326.5M | |
| EPS (Diluted) | -33.03 | -35.52 | -117.90 | -59.10 | -69.65 | -18.69 | -10.21 | -13.48 | -13.37 | |
| EBITDA | $-26.3M | $-35.8M | $-61.9M | $-167.2M | $-214.6M | $-125.9M | $-199.8M | $-326.1M | $-357.2M | |
| Shares Out. (M) | 0.89 | 1.15 | 0.60 | 2.83 | 3.07 | 6.59 | 17.91 | 22.50 | 28.88 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.9M | $44.8M | $296.6M | $138.7M | $61.6M | $81.3M | $215.4M | $357.3M | $536.3M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $137.2M | $38.9M | $0.00 | $177.2M | $242.0M | $250.5M | |
| Total Current Assets | $19.1M | $45.5M | $302.3M | $287.4M | $110.8M | $84.9M | $404.4M | $610.9M | $797.8M | |
| Total Assets | $19.8M | $47.7M | $303.2M | $292.7M | $115.1M | $87.9M | $483.1M | $937.9M | $1.46B | |
| Total Current Liabilities | $5.1M | $6.8M | $15.7M | $38.4M | $34.3M | $15.7M | $37.5M | $59.8M | $50.2M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $5.1M | $7.6M | $15.7M | $41.9M | $39.0M | $18.3M | $37.7M | $59.8M | $50.2M | |
| Stockholders' Equity | $14.7M | $40.1M | $287.5M | $250.8M | $76.1M | $69.7M | $445.4M | $878.1M | $1.41B | |
| Retained Earnings | $-41.4M | $-81.0M | $-149.6M | $-316.6M | $-530.6M | $-653.9M | $-836.7M | $-1.14B | $-1.23B |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-20.7M | $-33.4M | $-52.6M | $-124.6M | $-185.0M | $-111.1M | $-131.8M | $-249.1M | $-282.2M | |
| Capital Expenditure | $-63.0K | $-103.0K | $0.00 | $-1.1M | $-444.0K | $-50.0K | $0.00 | $-56.0K | $-62.0K | |
| Free Cash Flow | $-20.8M | $-33.5M | $-52.6M | $-125.6M | $-185.5M | $-111.2M | $-131.8M | $-249.1M | $-282.3M | |
| Investing Cash Flow | $-63.0K | $-103.0K | $0.00 | $-140.5M | $96.9M | $39.0M | $-248.5M | $-311.1M | $-604.4M | |
| Financing Cash Flow | $37.8M | $60.4M | $304.4M | $107.6M | $10.5M | $91.9M | $514.3M | $702.2M | $1.26B | |
| Issuance of Stock | $0.00 | $0.00 | $200.9M | $105.7M | $9.6M | $91.6M | $512.0M | $691.0M | $1.26B | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $1.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $579.0K | $668.0K | $5.2M | $22.7M | $28.6M | $24.9M | $41.4M | $33.9M | $42.3M | |
| Net Change in Cash | $17.0M | $26.9M | $251.8M | $-157.5M | $-77.7M | $19.7M | $134.1M | $142.0M | $370.8M |
Dilution Tracker
Shares outstanding grew 920.6% over 5 years — significant dilution
Shares Outstanding
29M
5-Year Share Growth
+920.6%
Stock Issuance (TTM)
$1.26B
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.89 | 1.15 | 0.60 | 2.83 | 3.07 | 6.59 | 17.91 | 22.50 | 28.88 | |
| YoY Change % | — | 29.4% | -47.9% | 374.0% | 8.6% | 114.6% | 171.6% | 25.7% | 28.3% | |
| Stock Issuance | $0.00 | $0.00 | $200.9M | $105.7M | $9.6M | $91.6M | $512.0M | $691.0M | $1.26B | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $579.0K | $668.0K | $5.2M | $22.7M | $28.6M | $24.9M | $41.4M | $33.9M | $42.3M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -5164.4% | -2340.3% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -5037.9% | -2137.5% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -5146.8% | -2336.1% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -4543.8% | -1540.5% | 0.0% | 0.0% | |
| ROE % | -180.7% | -129.6% | -37.7% | -62.1% | -130.9% | -169.1% | -71.0% | -45.8% | -47.0% | |
| ROA % | -133.8% | -105.2% | -35.2% | -56.1% | -104.9% | -121.4% | -64.0% | -42.7% | -43.8% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical35.59 / 138.74 / 938.26
Industry Med.9.49
P/B6.40
Historical0.73 / 2.67 / 21.56
Industry Med.2.93
EV/EBITDA-23.07
Historical-25.34 / -3.17 / 0.34
Industry Med.13.02
EV/Revenue—
Historical-57.99 / 140.10 / 994.85
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$50.61
Net Current Assets
$26.830
Net-Net Working Capital
$26.44
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | 60.05 | 161.00 | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 7.32 | 3.56 | 1.54 | 2.81 | 3.36 | 8.46 | 6.40 | |
| EV/EBITDA | 0.00 | 0.00 | -29.22 | -3.71 | -0.10 | -0.93 | -5.52 | -20.94 | -23.07 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 47.85 | 129.02 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $3.01M | $317.12M | $1,079.19M |
| Net Income | $-442.60M | $-331.92M | $238.59M |
| EPS | -15.08 | -10.53 | 9.19 |
| Book Value per Share | 39.22 | 32.73 | 42.66 |
| Operating Cash Flow per Share | -10.29 | -5.63 | 3.82 |
| Operating CF | $-297.22M | $-162.62M | $110.34M |
Dividends
Revenue Segments
By Business
| Segment | 2024 |
|---|---|
| Discovers and develops therapies for central nervous system (CNS) disorders | $8.6M |
By Geography
| Segment | 2024 |
|---|---|
| United States | $8.6M |