Recent Updates
Recently added Catalysts
PRAX Positive Sentiment

Praxis Precision Medicines Receives PRIME Designation from the EMA for elsunersen (PRAX-222) for Treatment of SCN2A Gain of Function Developmental Epilepsies

Key Takeaway: Praxis Precision Medicines has received PRIME designation from the European Medicines Agency for its drug elsunersen (PRAX-222) intended for treating SCN2A Gain of Function developmental epilepsies. This designation recognizes the therapeutic potential of elsunersen, which aims to address significant unmet medical needs for patients suffering from SCN2A-DEE. The decision was based on promising data from the EMBRAVE study, highlighting its benefits such as reduced seizures. This positions elsunersen as a potential breakthrough therapy in this field.
Price reaction · baseline $14.55 (2023-11-15 close) · hit after-hours · 1 other PRAX headline(s) in the window, move may be shared
day 0 close
-1%

Market Sentiment Analysis

POSITIVE FACTORS

  • PRAX-222 received PRIME designation from EMA, indicating strong support for development.
  • Clinical data showed reduction in seizures and increased seizure-free days in patients.
  • Elsunersen has potential as the first disease-modifying treatment for SCN2A-DEE.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+61%
120-day peak, hindsight
Typical move
23.7%
average across 12 past catalysts
Cash runway
~53 mo
Minimal dilution risk
Lead asset
vormatrogine
Phase 3 · Epilepsy, Tonic-Clonic

Full Press Release Details

BOSTON, Nov. 16, 2023 (GLOBE NEWSWIRE) -- 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 the European Medical Agency (EMA) has awarded its Priority Medicines (PRIME) designation for elsunersen (PRAX-222) for the treatment of SCN2A Gain of Function (GoF) developmental and epileptic encephalopathy (DEE). The EMA’s PRIME designation provides enhanced development support for priority medicines that target an unmet need and was granted based on the Part 1 data from the EMBRAVE study that showed a reduction in seizures and improvement in seizure free days, as well as preclinical data.
“Elsunersen has the potential to significantly impact the lives of patients with SCN2A-DEE and their families,” said Marcio Souza, president and chief executive officer of Praxis. “We welcome the recognition by the EMA of not only the unmet need in the condition, but the breakthrough potential of elsunersen and look forward to working closely with patients and regulators globally to advance the program.”
The PRIME designation provides early and proactive support to developers of promising medicines that may offer a major therapeutic advantage over existing treatments or a benefit to patients without treatment options. These medicines are considered priority medicines by the EMA, whose aim is to optimize development plans and accelerate evaluations so medicines that address significant unmet medical needs can reach patients faster.
About the EMBRAVE Study
Part 1 of the EMBRAVE study is an open-label cohort involving pediatric patients aged 2 to18 years. These patients, diagnosed with early-onset SCN2A developmental and epileptic encephalopathy (SCN2A-DEE), are administered elsunersen over a period of up to 13 weeks. The primary objective is to determine the safety and tolerability of intrathecal delivery of elsunersen. To learn more about the EMBRAVE study, please visit https://www.embravestudy.com/.
About elsunersen (PRAX-222)
Elsunersen is an antisense oligonucleotide (ASO) designed to selectively decrease SCN2A gene expression, directly targeting the underlying cause of early-seizure-onset SCN2A-DEE to treat seizures and other symptoms in patients with gain-of-function SCN2A mutations. In vitro studies of elsunersen have demonstrated reduction in both SCN2A gene expression and protein levels. In vivo, elsunersen has demonstrated significant, dose-dependent reduction in seizures, improvement in behavioral and locomotor activity and increased survival in SCN2A mouse models, with potential to be the first disease-modifying treatment for SCN2A-DEE. Elsunersen has received Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPD) from the FDA, and ODD from the European Medicines Agency (EMA) for the treatment of SCN2A-DEE. The elsunersen program is ongoing under a collaboration with Ionis Pharmaceutics, Inc. (NASDAQ: IONS), and RogCon, Inc.
SCN2A developmental and epileptic encephalopathy (SCN2A-DEE) is a debilitating monogenic epilepsy disorder caused by a variant in the SCN2A gene, associated with early mortality. The SCN2A gene is critical in the formation of sodium channel proteins in the brain, which control the flow of sodium ions into neurons. This movement of sodium ions is a major component of generating electrical signals called action potentials, the way in which the cells communicate. SCN2A-DEE is characterized by a broad spectrum of phenotypes. Early-onset SCN2A-DEE presents before three months and can lead to profound impact on patients, including drug-resistant seizures, significant cognitive impairment, movement disorders such as dystonia or ataxia and problems in other body systems such as gastrointestinal or ocular. Currently there are no approved treatments for SCN2A-DEE, and the standard-of-care typically involves a regimen of many concurrent anti-seizure medications as well as medications to manage co-morbidities. Despite these interventions, more than 70% of early-onset SCN2A-DEE patients live with uncontrolled seizures, and approximately 75% live with severe intellectual disability with patients rarely surviving beyond their teenage years.

Frequently Asked Questions

What designation did elsunersen receive from the EMA?

Elsunersen received the EMA's Priority Medicines (PRIME) designation.

What condition does elsunersen target?

Elsunersen targets SCN2A Gain of Function developmental and epileptic encephalopathy.

What is the main goal of the EMBRAVE study?

The EMBRAVE study aims to assess the safety and tolerability of elsunersen.

What type of medication is elsunersen?

Elsunersen is an antisense oligonucleotide designed to decrease SCN2A gene expression.

Are there approved treatments for SCN2A-DEE currently?

No, there are currently no approved treatments for SCN2A-DEE.

Last updated: Nov 16, 2023