Praxis nosedives as antidepressant effort collapses in PhII/III fail — layoffs to follow
Praxis shares $PRAX are taking a tumble Monday after the company reported its lead depression drug failed a Phase II/III study, forcing a substantial pipeline reorganization and layoffs.
The biotech said the program known as PRAX-114 missed the primary endpoint as well as all of its secondary endpoints, leading to the restructuring. Praxis’ program failed to significantly change patients’ HAM-D17 scores from baseline in major depressive disorder.
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