Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635

Praxis Precision Medicines, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635

Praxis Precision Medicines, Inc. (Nasdaq: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that on May 1, 2024, the Compensation Committee of Praxis' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 7,800 shares of its common stock and restricted stock unit awards covering an aggregate of 5,851 shares of its common stock to six new non-executive employees under the Praxis Precision Medicines, Inc. 2024 Inducement Plan (the 2024 Inducement Plan). The stock options and restricted stock units were granted as inducements material to the employees' entering into employment with Praxis in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2024 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Praxis, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with Praxis, pursuant to Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $55.16 per share, which is equal to the closing price of Praxis' common stock on the Nasdaq Global Select Market on the date of grant. The options will vest over four years, with 25% of the options vesting on the first anniversary of the vesting commencement date and the remaining options vesting in equal monthly installments over the three years thereafter, subject to each employee's continued employment with Praxis on each vesting dates. The restricted stock units will vest in four equal annual installments, subject to each employee's continued employment with Praxis on each vesting date.

About Praxis
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across movement disorders and epilepsy, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook , LinkedIn and Twitter/X .


Contacts: Investor Contact: Praxis Precision Medicines investors@praxismedicines.com 857-702-9452 Media Contact: Dan Ferry Life Science Advisors Daniel@lifesciadvisors.com 617-430-7576

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Praxis Precision Medicines to Participate in Upcoming Investor Conferences

Praxis Precision Medicines to Participate in Upcoming Investor Conferences

Praxis Precision Medicines Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance, today announced that management will be participating in three upcoming conferences.

  • Praxis management will participate in a fireside chat at the H.C. Wainwright 2 nd Annual BioConnect Investor Conference, taking place in New York, NY at the NASDAQ Stock Exchange on May 20, 2024 at 10:00am EDT. A live webcast of the fireside chat will be available through this link and will also be available through the "Upcoming & Recent Events" page of the Investors + Media section of the company's website www.praxismedicines.com . A replay of the webcast will be available on Praxis' website for 90 days following the event.

  • Praxis management will also participate in the Mizuho Securities USA Neuroscience Summit, taking place in Boston, MA on May 21, 2024.

  • Praxis management will also be participating in a fireside chat at the Jefferies Global Healthcare Conference, taking place in New York, NY on June 6, 2024 at 11:30am EDT. A live webcast of the fireside chat will be available through this link and will also be available through the "Upcoming & Recent Events" page of the Investors + Media section of the company's website www.praxismedicines.com . A replay of the webcast will be available on Praxis' website for 90 days following the event.

About Praxis
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across movement disorders and epilepsy, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook , LinkedIn and Twitter/X .

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Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across movement disorders and epilepsy, with four clinical-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook , LinkedIn and Twitter/X .

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