Praxis Shares Fall 12% After Vormatrigine Trial Misses Primary Endpoint
PRAX•Praxis Precision Medicines shares plunged 12% after its POWER1 study of once-daily vormatrigine missed the primary endpoint for monthly focal seizure reduction. The company paused enrollment in the POWER2 trial to reassess the program despite a 50% responder rate at 30 mg and under 10% discontinuations.
1. Vormatrigine POWER1 Study Results
In the POWER1 Phase 2/3 registrational trial, patients on one to three anti-seizure medications were randomized to once-daily vormatrigine or placebo for 12 weeks. The study failed to meet its primary endpoint of percent change in monthly focal seizure frequency but achieved a key secondary endpoint with a 50% responder rate on the 30 mg dose and adverse event-related discontinuations below 10%.
2. Share Reaction and Investment Impact
Following the announcement, Praxis shares plunged nearly 12% in after-hours trading as investors reacted to the trial setback. Retail sentiment swung to bullish territory despite the drop, reflecting optimism around secondary endpoint data and safety profile.
3. Program Reassessment and Next Steps
Praxis paused enrollment in the POWER2 study to reassess the vormatrigine program and explore potential protocol modifications. The company confirmed no changes to other ongoing trials or regulatory timelines and remains on track for planned commercial launches of relutrigine and ulixacaltamide.
