FDA tells Praxis it can't move into the clinic just yet for a rare epilepsy drug

The FDA emailed Praxis Precision Medicines on Thursday to let the biotech know that its IND for a rare epilepsy drug was placed on clinical hold.

“The clinical hold letter detailing the reasons for the hold is expected to be received from the FDA within 30 days of April 28, 2022,” the company said in a Friday morning SEC filing. Praxis’ shares $PRAX were down nearly 6% as of the opening bell Friday morning.