PRAX - Praxis' PRAX-562 wins Orphan Drug designation for rare encephalopathy

The FDA has granted Orphan Drug designation to Praxis Precision Medicines' (PRAX) PRAX-562 for the treatment of SCN2A development and epileptic encephalopathy (SCN2A-DEE).Earlier this month, PRAX-562 received the same designation for the treatment of SCN8A-DEE.The company plans to start a phase 2 trial in 1H 2022 to examine the potential for PRAX-562 to treat other rare pediatric development and epileptic encephalopathies.Praxis shares are up 1.2% to $32.59 in premarket trading.

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Praxis' PRAX-562 wins Orphan Drug designation for rare encephalopathy