Praxis Precision Medicines Shares Rise After FDA Accepts New Drug Application

Published: 2026-04-14 10:48:15 ET PRAX

Published on 04/14/2026 at 10:48 am EDT

By Christopher Kuo

Praxis Precision Medicines shares rose after the Food and Drug Administration accepted its new drug application for ulixacaltamide HCl in the treatment of essential tremor in adults.

Shares of the biopharmaceutical company rose 7.9% on Tuesday to $342.09. The company's shares are up 16% year to date.

The Ulixacaltamide HCl drug is designed to block the abnormal activity of neurons that correlates with tremor activity, which is a neurological disorder involving rhythmic shaking, the company said.

The drug went through a Phase 3 program with two studies of adults and received breakthrough therapy designation from the FDA in 2025. The FDA has set a target action date of Jan. 29, 2027, the company said.

Write to Christopher Kuo at [email protected]

(END) Dow Jones Newswires

04-14-26 1047ET