Praxis Precision Medicines Inc

PRAX is in a Stage 2 corrective reset within an overall uptrend, with Higher Highs & Higher Lows confirming demand dominance. Price is consolidating above rising EMAs without exhaustion, offering a continuation setup. Both medium- and short-term biases are bullish, providing favorable execution conditions. We buy pullbacks into the rising EMA and prior consolidation support, targeting continuation participation.

• ↑FDA accepted NDAs for ulexacultamide and relutrigine, targeting over $10B peak sales.
• ↑Cash position of $1.4B funds R&D and operations into 2028.
• ↓Q1’26 operating expenses reached $106M, driving $86M in cash burn.