PRAX - Praxis Precision Medicine plummets 27% on clinical hold on lead drug

Recent IPO Praxis Precision Medicines ([[PRAX]] -27.0%) craters on average volume in reaction to the FDA's clinical hold on its Investigational New Drug ((IND)) application for lead candidate PRAX-114, an extrasynaptic-preferring GABAa receptor positive allosteric modulator, for the potential treatment of major depressive disorder ((MDD)) and perimenopausal depression.The company says the agency has not explained the reason for the hold, which prohibits the start of its planned Phase 2/3 clinical trial in MDD, only saying that its comments have yet to be finalized.

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Praxis Precision Medicine plummets 27% on clinical hold on lead drug