PRAX advances two NDAs to FDA review, raises $1.2B in equity to fund commercial launch prep

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 2, 2025 · ~1 min read

Key Changes

• high

  Submitted NDAs for ulixacaltamide (essential tremor, PDUFA Jan 2027) and relutrigine (SCN2A/SCN8A epilepsy, priority review PDUFA Sep 2026); commercial preparations underway for both programs.

  MD&A: NDA submissions verify on EDGAR →
• high

  Raised $1.2B across two follow-on offerings (Oct 2025: $567M at $157/share; Jan 2026: $621M at $260/share), tripling cash position to $1.4B and extending runway into 2028.

  MD&A: Equity raises verify on EDGAR →
• high

  Announced positive topline results from elsunersen EMBRAVE Part A study (SCN2A gain-of-function epilepsy) in April 2026; Phase 3 registrational study EMBRAVE3 enrolling with results expected 2027.

  MD&A: Elsunersen program verify on EDGAR →