PRAX-944 is a small molecule commercialized by Praxis Precision Medicines, with a leading Phase II program in Essential Tremor. According to Globaldata, it is involved in 7 clinical trials, of which 2 were completed, 1 is ongoing, 3 are planned, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of PRAX-944’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for PRAX-944 is expected to reach an annual total of $11 mn by 2035 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

PRAX-944 Overview

Ulixacaltamide (PRAX-944) is under development for the treatment of essential tremor and Parkinson’s disease. The drug candidate is administered through oral route in the form of tablet. It acts by targeting the T-type calcium channel. It was also under development for the treatment of absence seizures.

Praxis Precision Medicines Overview

Praxis Precision Medicines (Praxis), formerly EpiPM Therapeutics Inc, is a clinical statge biopharmaceutical company that translates genetic insights for the development of novel therapies to treat central nervous system disorders. The company’s pipeline program includes PRAX-114, PRAX-944, PRAXIS-050, PRAXIS-040 which are molecule GABA receptors for the treatment of psychiatry and movement disorders, It provides programs such as PRAX-562, PRAX-222, PRAX-020, SCN2A-LCF, SYNGAP1, PCDH19, and PRAXIS-030 are used for the treatment of genetic epilepsies. Praxis incorporates large-scale genome sequencing and a neurocircuit biology-based approach to advance its pipeline products. The company’s funding partners include Vida ventures, Novo Holdings, Blackstone life sciences, and others. Praxis is headquartered in Cambridge, Massachusetts, the US.

The operating loss of the company was US$215 million in FY2022, compared to an operating loss of US$167.3 million in FY2021. The net loss of the company was US$214 million in FY2022, compared to a net loss of US$167.1 million in FY2021.

For a complete picture of PRAX-944’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.