- Praxis Precision Medicines Inc’s (NASDAQ:PRAX) Phase 2/3 Aria Study of PRAX-114 for major depressive disorder (MDD) did not achieve statistical significance on the primary endpoint.
- The primary endpoint was the change from baseline in the total score of the 17-item Hamilton Depression Rating Scale (HAM-D17).
- The scale measures the frequency and intensity of depressive symptoms in individuals with major depressive disorder.
- Praxis said it will prioritize programs in movement disorders and epilepsy moving forward.
- Related: Praxis’ PRAX-944 Shows Promising Action In Essential Tremor Patients.
- The strategic realignment will result in a reduction of the company’s workforce and future operating expenses. As a result of the realignment, the company’s cash runway will extend into 2024.
- The strategic alignment will focus on delivering Phase 2b results for PRAX-944 in essential tremor and proof-of-concept for PRAX-562 in epilepsy and advancing the pre-clinical pipeline.
- Price Action: PRAX shares traded 65.1% lower at $3 premarket on the last check Monday.
The Gap To Close All Stores In UK And Ireland
The Gap Inc. (NYSE: GPS) has announced it will shut down all 81 of its stores in the UK and Ireland by the end of September and shift to an e-commerce retail strategy for those markets.
