Press Release

Live event in New York City and webcast to start at 8:30 a.m. ET

BOSTON, April 27, 2022 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today will host its 2022 Epilepsy Day live in New York City and via webcast from 8:30 to 11:30 a.m. ET.

“We are excited to share a deeper dive into the significant work we have been doing in our epilepsy franchise, in particular our genetically-driven approach to identifying targets and how we are leveraging innovative techniques in drug development to bring a new wave of much-needed targeted therapies to patients,” said Marcio Souza, president and chief executive officer of Praxis. “We have made considerable progress enabling a high-value portfolio across each of our three franchises, and we look forward to sharing our continued progress across the entire Praxis pipeline.”

Key highlights of the event include:

• An overview of Praxis’ proprietary innovation strategy, driven by its understanding of genetics and translational tools, to rapidly discover and develop targeted CNS drugs, which has led to an epilepsy portfolio representing a multi-billion-dollar market opportunity
• Updates from Praxis’ three most advanced epilepsy programs, each of which is expected to be clinical stage by year-end 2022: 
  • PRAX-222: Investigational New Drug (IND) submitted to the U.S. Food and Drug Administration (FDA) proposing a seamless study design for SCN2A patients with early-onset seizures
  • PRAX-562: Preliminary 28-day exposure Phase 1 data supports long-term dosing with an unprecedented therapeutic window for sodium channel blockers. A Phase 2 clinical study in cohorts of children with SCN2A epilepsy, SCN8A epilepsy, and Tuberous Sclerosis Complex (TSC) is expected to initiate in 2H2022 
  • PRAX-628: Expected initiation of a Phase 1 study in the fourth quarter of 2022 and a Phase 2 study in focal epilepsy in 2023
    
• A review of the significant progress in Praxis’ early-stage epilepsy pipeline, including plans to declare antisense oligonucleotide (ASO) candidates for PRAX-080 for PCDH19 and PRAX-090 for SYNGAP1 in 2023
  

• A discussion by world-renowned epilepsy experts of the unmet need in clinical management of epilepsy today and perspective on the opportunity for precision-based therapies
  

A live webcast and slide presentation will be available through the Events & Presentations page of the Investors + Media section of the company’s website at www.praxismedicines.com. A replay of the webcast will be available on Praxis’ website for 90 days following the event.

About Praxis

Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying insights from genetic epilepsies to both rare and more prevalent neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio with multiple programs, including product candidates across psychiatric disorders, movement disorders, epilepsy and other exploratory CNS indications, with three clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding our future expectations, plans and prospects, including, without limitation, statements regarding expectations, plans and timing for our clinical data, the anticipated timing of our clinical trials and regulatory filings and the development of our product candidates, including the design of our clinical trials and the treatment potential of our product candidates.

The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: uncertainties inherent in clinical trials; our ability to initiate, enroll, conduct or complete ongoing and planned clinical trials and our timelines for regulatory submissions; the expected timing of submissions for regulatory approval or review by governmental authorities; risks, uncertainties and assumptions regarding the impact of the continuing COVID-19 pandemic on our business, operations, strategy, goals and anticipated timelines of our ongoing and planned preclinical activities; and other risks concerning our programs and operations as described in further detail in our Annual Report on Form 10-K for the year ended December 31, 2021 and other filings made with the Securities and Exchange Commission. Although our forward-looking statements reflect the good faith judgment of our management, these statements are based only on information and factors currently known by us. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Investor Contact: Alex Kane Praxis Precision Medicines investors@praxismedicines.com 617-300-8481 Media Contact: Ian Stone Canale Communications Ian.stone@canalecomm.com 619-849-538