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Tonic-Clonic Epilepsy: one US-listed biotech with a clinical-stage programme

Neurology & PsychiatryUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$9.9Buniverse median $1.20B
Allocated capital$3.3B$9.9B competing
Phase 3 or filed10 mid, 0 early
Pure plays0this indication only
Capital rank62/299crowding rank 109

Tonic-Clonic Epilepsy is uncontested. Praxis Precision Medicines (PRAX) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with vormatrogine in phase 3.

There is no public comparable to price it against. PRAX spreads its $9.9B market cap across 3 indications, so $3.3B of it is allocated here.

The one programme here is in late-stage development, with 1 dated catalyst in the next 12 months.

$3.3B of allocated capital sits in Tonic-Clonic Epilepsy, ranking it 62nd of 299 indications by the money committed to it.

Companies developing drugs for Tonic-Clonic Epilepsy 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
PRAXPraxis Precision MedicinesvormatroginePhase 31$9.9BNo3 27 Dec 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Tonic-Clonic Epilepsy counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Tonic-Clonic Epilepsy has one competitor and a median of $9.9B.

Neurology & Psychiatry

Neurology & Psychiatry holds $120B of the map's capital, 17.9% of the total, spread across 46 indications and 58 companies. 19 of those indications have more than one company competing.

See every Neurology & Psychiatry indication on the map

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Tonic-Clonic Epilepsy pipeline questions

Which biotech companies are developing drugs for Tonic-Clonic Epilepsy?

Praxis Precision Medicines (PRAX, vormatrogine, Phase 3). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Tonic-Clonic Epilepsy.

How advanced is the Tonic-Clonic Epilepsy pipeline?

Of the 1 clinical-stage programme in Tonic-Clonic Epilepsy, 1 is in Phase 3 or filed, 0 are in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Tonic-Clonic Epilepsy?

No. PRAX is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Tonic-Clonic Epilepsy, which is why the indication is classified as uncontested.

When is the next Tonic-Clonic Epilepsy catalyst?

The next dated catalyst in Tonic-Clonic Epilepsy is PRAX on 27 Dec 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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