Praxis Precision Medicines, Inc.

Praxis Precision Medicines, Inc. (PRAX) priced its initial public offering on Oct 16, 2020 at $19.00 per share, above its $17.00–$18.00 range, raising $190M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $698.2M. Blackstone Partners was lead-left underwriter. Goodwin Procter advised the company and Mintz advised the underwriters.

Praxis Precision Medicines, Inc. is a clinical-stage biopharmaceutical company using genetic insights to develop therapies for central nervous system disorders marked by an imbalance between neuronal excitation and inhibition. It targets severe pediatric epilepsies and prevalent psychiatric and neurologic diseases, and has three candidates in clinical development.

Status

IPO

Ticker

PRAX

Exchange

Nasdaq Global Select

Priced

Oct 16, 2020

IPO price

$19.00

Price range

$17.00–$18.00

Raised

$190M

Market cap at IPO price

$698.2M

First filed

Sep 25, 2020

Underwriters

Blackstone Partners

Company counsel

Goodwin Procter

Underwriters' counsel

Mintz

Sector

Biotech & pharma

Country / state

MA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.