Praxis Precision (PRAX) | Financial Analysis & Statements
Praxis Precision Medicines Inc. Mid-cap Healthcare
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
0
Operating Income
-97.0M
Net Income
-88.9M
EPS (Diluted)
$-3.50
Balance Sheet Metrics
Total Assets
937.9M
Total Liabilities
59.8M
Shareholders Equity
878.1M
Debt to Equity
0.07
Cash Flow Metrics
Operating Cash Flow
-85.2M
Free Cash Flow
-76.3M
Revenue & Profitability Trend
Praxis Precision Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 0 | 8.6M | 2.4M | 0 | 0 |
| Cost of Goods Sold | - | - | - | - | - |
| Gross Profit | - | - | - | - | - |
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Expenses | |||||
| Research & Development | 267.1M | 152.4M | 86.8M | 155.0M | 120.3M |
| Selling, General & Administrative | 59.1M | 56.3M | 42.1M | 59.9M | 47.1M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 326.2M | 208.7M | 128.8M | 215.0M | 167.3M |
| Operating Income | -326.2M | -200.2M | -126.4M | -215.0M | -167.3M |
| Operating Margin % | 0.0% | -2,340.3% | -5,164.4% | 0.0% | 0.0% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | - | - | - | - | - |
| Other Non-Operating Income | 22.9M | 17.3M | 3.1M | 957.0K | 271.0K |
| Pre-tax Income | -303.3M | -182.8M | -123.3M | -214.0M | -167.1M |
| Income Tax | - | - | - | - | 0 |
| Effective Tax Rate % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Income | -303.3M | -182.8M | -123.3M | -214.0M | -167.1M |
| Net Margin % | 0.0% | -2,137.5% | -5,037.9% | 0.0% | 0.0% |
| Key Metrics | |||||
| EBITDA | -326.1M | -199.8M | -125.9M | -214.6M | -167.2M |
| EPS (Basic) | - | $-10.21 | $-18.69 | $-69.60 | $-59.10 |
| EPS (Diluted) | - | $-10.21 | $-18.69 | $-69.60 | $-59.10 |
| Basic Shares Outstanding | - | 17906794 | 6594316 | 3073115 | 2830270 |
| Diluted Shares Outstanding | - | 17906794 | 6594316 | 3073115 | 2830270 |
Income Statement Trend
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Praxis Precision Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 357.3M | 215.4M | 81.3M | 61.6M | 138.7M |
| Short-term Investments | 242.0M | 177.2M | 0 | 38.9M | 137.2M |
| Accounts Receivable | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Other Current Assets | 11.6M | 11.8M | 3.6M | 10.4M | 11.5M |
| Total Current Assets | 610.9M | 404.4M | 84.9M | 110.8M | 287.4M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 415.0K | 359.0K | 359.0K | 309.0K | 242.0K |
| Goodwill | - | - | - | - | - |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | - | 416.0K | 416.0K | 416.0K | 472.0K |
| Total Non-Current Assets | 327.0M | 78.7M | 3.1M | 4.3M | 5.3M |
| Total Assets | 937.9M | 483.1M | 87.9M | 115.1M | 292.7M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 24.6M | 12.5M | 5.8M | 14.7M | 10.8M |
| Short-term Debt | 110.0K | 1.3M | 1.1M | 1.0M | 810.0K |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 59.8M | 37.6M | 15.7M | 34.3M | 38.4M |
| Non-Current Liabilities | |||||
| Long-term Debt | 0 | 110.0K | 1.4M | 2.5M | 3.5M |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 110.0K | 2.5M | 4.7M | 3.5M |
| Total Liabilities | 59.8M | 37.7M | 18.3M | 39.0M | 41.9M |
| Equity | |||||
| Common Stock | 15.0K | 14.0K | 13.0K | 5.0K | 5.0K |
| Retained Earnings | -1.1B | -836.7M | -653.9M | -530.6M | -316.6M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 878.1M | 445.4M | 69.7M | 76.1M | 250.8M |
| Key Metrics | |||||
| Total Debt | 110.0K | 1.4M | 2.5M | 3.5M | 4.3M |
| Working Capital | 551.1M | 366.8M | 69.1M | 76.5M | 249.0M |
Balance Sheet Composition
Praxis Precision Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -303.3M | -182.8M | -123.3M | -214.0M | -167.1M |
| Depreciation & Amortization | 140.0K | 358.0K | 432.0K | 419.0K | 182.0K |
| Stock-Based Compensation | 33.9M | 41.4M | 24.9M | 28.6M | 22.7M |
| Working Capital Changes | 10.8M | 3.0M | -12.3M | 8.1M | 6.5M |
| Operating Cash Flow | -257.3M | -134.6M | -109.5M | -176.1M | -136.3M |
| Investing Activities | |||||
| Capital Expenditures | -56.0K | 0 | -50.0K | -444.0K | -1.0M |
| Acquisitions | - | - | - | - | - |
| Investment Purchases | -623.8M | -371.5M | 0 | -83.0M | -164.2M |
| Investment Sales | 312.7M | 123.0M | 39.0M | 180.4M | 24.7M |
| Investing Cash Flow | -311.1M | -248.5M | 39.0M | 96.9M | -140.5M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | 0 |
| Dividends Paid | - | - | - | - | - |
| Debt Issuance | - | - | - | - | - |
| Debt Repayment | - | - | - | - | - |
| Financing Cash Flow | 688.9M | 511.7M | 91.5M | 9.0M | 105.1M |
| Free Cash Flow | -249.1M | -131.8M | -111.2M | -185.5M | -125.6M |
| Net Change in Cash | 120.4M | 128.6M | 20.9M | -70.2M | -171.7M |
Cash Flow Trend
Praxis Precision Key Financial Ratios
Valuation Ratios
Forward P/E
-38.31
Price to Book
9.46
PEG Ratio
-38.31
Profitability Ratios
Profit Margin
0.00%
Operating Margin
0.00%
Return on Equity
-45.83%
Return on Assets
-28.69%
Financial Health
Current Ratio
10.22
Debt to Equity
0.01
Beta
2.97
Per Share Data
EPS (TTM)
$-13.48
Book Value per Share
$34.85
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| PRAX | 9.6B | - | 9.46 | -45.83% | 0.00% | 0.01 |
| Vertex | 109.4B | 28.40 | 5.92 | 22.54% | 32.94% | 10.91 |
| Regeneron | 81.0B | 18.00 | 2.45 | 14.86% | 31.41% | 9.51 |
| Axsome Therapeutics | 9.5B | -50.54 | 105.31 | -252.12% | -28.69% | 247.03 |
| Bio-Techne | 9.1B | 117.16 | 4.55 | 3.80% | 6.41% | 20.07 |
| Vaxcyte | 8.8B | -10.79 | 2.97 | -25.59% | 0.00% | 4.38 |
Financial data is updated regularly. All figures are in the company's reporting currency.






