Praxis disclosed ‘highly positive’ initial data for elsunersen, says Truist

Reporting from Praxis Precision Medicines’ R&D day, Truist contends that the company disclosed “highly positive” initial data from PRAX-222, now called elsunersen, from a cohort of 4 patients. Management noted a 44% median seizure reduction across three doses, which is “well beyond” the 10%-15% bar set by management, while seizure free days also rose from a baseline of 21% to 35% on elsunersen, notes the analyst. The firm maintains a Buy rating and $10 price target on Praxis shares.