Breaking: Praxis Precision Medicine (PRAX) Is Set for 400% SurgeThe price of Praxis Precision Medicines, Inc. (NASDAQ: NASDAQ:PRAX ) Is set for a bullish continuation pattern amidst breaking out of a falling wedge pattern spiking 183% yesterday.
The biopharmaceutical company is set to reclaim the $900 resistant zone this last quarter amidst rising interest in the biopharmaceutical company.
NASDAQ:PRAX is already up 3.56% in Friday's premarket session, even with the RSI at 85- which is clearly overbought.
In another news, Praxis Precision Medicines, Inc. (NASDAQ: NASDAQ:PRAX ) announced the pricing of its underwritten public offering of 3,025,480 shares of its common stock at a public offering price per share of $157.00 and, in lieu of shares of common stock, pre-funded warrants to purchase up to an aggregate of 318,470 shares of common stock at a purchase price of $156.9999 per pre-funded warrant, which equals the public offering price per share of the common stock less the $0.0001 per share exercise price of each pre-funded warrant.
The gross proceeds from the offering are expected to be approximately $525 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Praxis.
About PRAX
Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system (CNS) disorders characterized by neuronal excitation-inhibition imbalance. The company’s platforms include cerebrum, a small molecule platform for CNS small molecule therapies to develop orally available precision therapies; and solidus to discover and develop antisense oligonucleotide.
