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Positive study results and FDA meeting create significant investor confidence, reminiscent of past biotech surges.
What happened, with direct paths to the underlying reporting
PRAX stock surged after positive EMBOLD study results for relutrigine. The FDA will review data and decide on NDA filing soon. Analysts see relutrigine's peak sales potential rising to $2.8 billion. HC Wainwright raises the probability of success for relutrigine to 80%. Praxis expects NDA submission completion by early 2026.
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