Praxis Moves Away From Depression With Surprising Phase II/III Failure
With GABA-A modulator PRAX-114 missing all endpoints in a monotherapy study, Praxis will cease development of that drug and focus on its candidates for essential tremor and epilepsy.
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Praxis hopes to initiate a Phase III later in 2023, but an analyst said it is unclear if regulators will align with the company on a proposed primary endpoint.
Investors, advisors and CEOs at the J.P. Morgan Healthcare Conference and Biotech Showcase were somewhat optimistic about fundraising this year, but noted certain companies may have to call it quits.
The companies reported positive Phase III data in postpartum depression, a market opportunity of up to half a million women in the US with a condition that remains underdiagnosed.