Praxis Precision Medicines reports late-stage failure of seizure drug and pauses second trial

Praxis Precision Medicines had enjoyed a period of momentum, reporting two notable clinical successes in the past eight months. The company’s pipeline had been viewed positively by investors and analysts.

On Monday the firm announced that its late-stage study of an investigational seizure pill did not meet its primary endpoints. As a result, Praxis is halting the second trial that was planned for the same indication.

The setback removes a potential new therapy for seizures from the company’s near-term outlook and may weigh on its stock, while the earlier wins remain part of its broader development program.