PRAX - Praxis epilepsy disorder drug investigational new drug application put on clinical hold

The U.S. FDA has notified Praxis Precision Medicines (NASDAQ:PRAX) that its Investigational New Drug Application for a study of PRAX-222 for a rare type of epilepsy has been placed on a clinical hold. Shares are down 6% in Friday afternoon trading. The company said it will receive a formal letter from the agency within 30 days explaining the reason for the hold. PRAX-222 is an antisense oligonucleotide for the treatment of patients with SCN2A gain-of-function mutations. The mutations can result in autism, developmental delay, and sometimes seizures. For more on Praxis (PRAX), read this backgrounder on the company from Seeking Alpha contributor Numenor Capital

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Praxis epilepsy disorder drug investigational new drug application put on clinical hold